bank rates

CD Rates Leaderboard For May 14, 2011

With average returns for CD rates hitting record lows this month, you might expect the best CD rates would slip a bit.

They haven’t.

It’s been nearly three months since the top nationally available deals on our CD Rates Leaderboard were higher than they are now.

Still, the best rates remain well off what they were even at this time last year.

Outside of a brief, one-day lead switch in 36-month CD rates, we haven’t had a change at the top of our Leaderboard since May 3.

Here’s where to find all of the top CD rates:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs Nexity Bank 0.81% APY $1,000
6-Month CDs Nexity Bank 1.12% APY $1,000
12-Month CDs Melrose Credit Union 1.41% APY $5,000
24-Month CDs Salem Five Bank 1.75% APY $10,000
36-Month CDs Melrose Credit Union 2.17% APY $5,000
60-Month CDs Melrose Credit Union 2.93% APY $5,000

Banks and credit unions qualify for our rankings by selling their certificates of deposit online or through the mail to savers nationwide.

Melrose is one of the few credit unions eligible for our rankings because its unique charter allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

The banks on today’s Leaderboard are:

  • Nexity Bank, an online bank based in Birmingham, Ala.
  • Salem Five Savings Bank, which has 22 branches north of Boston.

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

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