bank rates

CD Rates Leaderboard For July 16, 2012: Barclays Trims Its 24-Month Yield

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.Barclays cut CD rates on multiple terms this morning, including its 24-month CD, which had shared the top spot on our CD Rates Leaderboard.

CIT Bank ( now sits atop the Leaderboard by itself with a 1.25% APY offering.

CIT Bank, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, requires a $25,000 minimum deposit. With this certificate of deposit, you can add money to your account once, as well as bump up the rate once during the term.

Barclays, the big British bank with a new online U.S. presence, now pays 1.15% APY on 2-year CDs. That rate ties for the seventh-best nationally available deal on our list.

Here are more of the best 24-month CDs we’re watching:

EH National Bank (, which has a single branch in Beverly Hills, Calif., pays 1.20% APY and requires a $10,000 minimum deposit.

MetLife (, which is the insurance giant’s online bank, pays 1.17% APY and requires a $25,000 minimum deposit.

Broadway Federal Bank (, which has five branches in Los Angeles and Inglewood, Calif., requires a $500 minimum deposit.

Metropolitan National Bank (, which has three branches in Manhattan and one in Brooklyn, requires a $1,000 minimum deposit.

The National Republic Bank of Chicago (, which has two branches in Chicago, requires a $1,000 minimum deposit.

The average annual yield that large banks and thrifts pay is 0.50% this week.

Banks qualify for our Leaderboard rankings by accepting deposits from all savers, regardless of where they live, either online or through the mail.

We don’t include credit unions because of the restrictions they place in order to open an account.

That doesn’t necessarily make these deals any less valuable (although there are sometimes fees to join); it just means you have to jump through a few more hoops.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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