bank rates

CD Rates Leaderboard For July 5, 2012: Two Banks Tie For Best 36-Month CD

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.It’s been more than a year since we mentioned the rates at Astoria Federal Savings.

But this New York bank rejoins the conversation today.

It is now tied atop the CD Rates Leaderboard with a 36-month CD that pays 1.50% APY.

Astoria Federal Savings, which has 84 branches in Brooklyn, Queens, Nassau, Suffolk and Westchester counties, requires a $500 minimum deposit.

That minimum deposit is a bit lower than the $1,000 requirement to earn the same rate at Doral Bank Direct, the online division of Doral Bank.

The last time we wrote about Astoria, it sold CDs either at the branch or over the phone. I couldn’t find an online form this morning, so that requirement doesn’t appear to have changed.

For more information, visit Astoria’s website at www.astoriafederal.com or call 1-800-278-6752.

Meanwhile, since this is the first Leaderboard post in July, I thought I’d share the monthly numbers on rate movement.

We saw 40 rate changes in June among the banks we’re watching for the Leaderboard.

That’s about what we’ve seen each of the last three months. It’s interesting to note, however, that Ally and EverBank combined to account for half of the rate changes.

In all, we saw five rate changes at the top of the Leaderboard.

And the 3-, 6- and 60-month terms all offered higher top rates on July 1 when compared to June 1; the 36-month term was lower.

Here’s the rest of the 2012 picture:

  • January: 55 rate changes, including four changes at the top of the Leaderboard.
  • February: 34 rate changes, including one at the top of the Leaderboard.
  • March: 29 rate changes, including one at the top of the Leaderboard.
  • April: 38 rate changes, including seven at the top of the Leaderboard.
  • May: 37 rate changes, including seven at the top of the Leaderboard.

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.

Have you ever opened a deposit account at Astoria Federal Savings? Share your experience below by making a comment.

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  1. Kathy at Bankaholic said:
    on July 16th at 07:10 am

    You can still get Astoria’s 36-month rate.