bank rates

CD Rates Leaderboard For May 16, 2012: Top 60-Month CD Hit With Rate Cut

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.The news just keeps getting worse for 60-month bank CD rates.

State Bank of India has cut its term-leading 5-year CD rate a full fifth of a percentage point, from 1.91% APY to 1.71% APY.

That means the best nationally available bank deal on our CD Rates Leaderboard falls to 1.81% APY, available from the National Republic Bank of Chicago.

National Republic Bank ( has two branches in Chicago and requires a $1,000 minimum deposit. You can open these certificates of deposit online.

The cut means we’re moving ever further away from the 2% top yield where we started the year.

The only way to find a rate that high from a bank that offers certificates to savers nationwide is to open a second account with your CD purchase.

You can earn 2.05% APY at Jacksonville Bank with a $1,000 minimum deposit when you also open an account that earns no interest and is funded by direct deposit.

Otherwise, Jacksonville Bank (, which has five locations in northeast Florida, pays 1.80% APY on 5-year CDs.

Today’s cut also increases the divide between what banks offer and what you’ll find at the top credit unions with nationally available deals. Search for all of the top credit union and local bank deals on our list of the highest CD rates.

The top nationally available credit union deal on our list comes from Endura Financial Federal Credit Union, which pays 2.32% APY with a $1,000 minimum deposit.

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 those 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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Comments (2)
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2 Existing Comments
  1. SeniorSaver said:
    on May 16th at 11:21 am

    Another sad day for savers, particularly seniors. And with Wall Street’s drumbeat for QE3 growing louder every day the stock market averages dip, there could be many more sad days ahead.

  2. Kathy at Bankaholic said:
    on June 22nd at 01:15 pm

    Since this post, State Bank of India and National Republic Bank of Chicago both raised their rates to 1.91% APY.