bank rates

CD Rates Leaderboard For March 21, 2012

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.There are no changes at the top of the CD Rates Leaderboard today, but a couple banks trailing the top nationally available deals just cut their rates.

With that in mind, it’s a good time to revisit where we stand on rate changes for the month.

As I mentioned at the beginning of March, we’ve seen less rate movement each month of 2012.

Here’s a look at the number of rate changes we’ve seen from these banks over the last couple of months in the terms we track:

  • 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.

So, how are we looking for March?

As I mentioned, we had some rate cuts today. Two banks cut five rates across four terms.

Virtual Bank (, the online division of Sabadell United Bank based in Miami, cut rates in four terms:

  • 3-month CD rates from 0.60% APY to 0.50% APY.
  • 6-month CD rates from 0.80% APY to 0.75% APY.
  • 12-month CD rates from 1.01% APY to 0.90% APY.
  • 24-month CD rates from 1.21% APY to 1.11% APY.

Ally Bank (, an online bank based in Charlotte, N.C., cut its 24-month CD rates from 1.14% APY to 1.10% APY.

With today’s cuts included, there have been 21 rate changes in March, including one at the top of the Leaderboard.

Does this continued stability mean we’ve finally reached the bottom we’ve been hoping for? We’ll see.

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

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

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Comments (3)
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3 Existing Comments
  1. SeniorSaver said:
    on March 21st at 05:53 pm

    Ally seems to have some sort of “science” (i.e., a formula) behind its rate changes. But for most banks, changes seem to be more “art” (and sometimes highly ugly art, at that). For example, when 10-year Treasury yields climbed steeply last week, Discover Bank raised the offered rate on its 5-year brokered CDs from 1.60% to 1.70%. But its online 5-year CDs stayed at 1.75%, and its 10-year online CDs dropped from 2.45% to 2.25% (less than 10-year Treasuries are yielding today). Go figure.

  2. Kathy at Bankaholic said:
    on April 2nd at 07:09 am

    Virtual Bank has dropped its 6-month rate to 0.70% APY and its 24-month rate to 1.06% APY. Ally’s 2-year rate is now 1.09% APY.

  3. Kathy at Bankaholic said:
    on April 16th at 07:58 am

    Virtual Bank’s 24-month rate has fallen again, to 0.90% APY.