bank rates

CD Rates Leaderboard For March 28, 2014

For the ninth consecutive week, EverBank has changed its 60-month CD rates, this time boosting the yield high enough to take over the top spot on our CD Rates Leaderboard.

With a $1,500 minimum deposit, 5-year CDs now pay 2.27% APY.

That’s slightly better than the 2.25% APY offered by both CIT Bank and GE Capital Retail Bank. Those two institutions led the term for the last week and a half.

We’ll have a full review of the 60-month term on Sunday, but this rate boost continues a trend we’ve seen for several months as long-term certificate of deposit deals are showing some strength.

EverBank (www.everbank.com) does much of its business as an online bank, although it does have 14 branches in Florida.

It frequently changes its rates, which typically post on its website late Thursday evening or early Friday morning each week.

Although its long-term CD rates have been trending upward, during this weekly streak it has occasionally cut rates. So there’s no guarantee an offer this good from EverBank will last.

Here’s a look at the peaks and valleys EverBank’s 60-month rate has reached during the last nine weeks.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, 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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