bank rates

CD Rates Leaderboard For May 22, 2013

Salem Five has introduced several new eCD Specials that have vaulted the big Massachusetts bank to the top of our CD Rates Leaderboard in two terms.

With a minimum deposit of $10,000, you’ll earn:

  • 1.25% APY on 24-month CDs.
  • 1.50% APY on 36-month CDs.

That’s the highest nationally available 3-year CD rate we’ve seen since mid-March.

Salem Five also is offering a 12-month eCD that pays 1.00% APY. The top bank rate in that term is 1.05% APY, offered by three institutions, CIT Bank, GE Capital Retail Bank and State Bank of India-Chicago.

Salem Five’s 2-year CD pays slightly better than the 1.20% APY offered by CIT. Its 3-year offer outpaces the 1.41% APY State Bank of India pays.

These eCDs are offered through Salem Five Direct, the bank’s online division. (

Founded in 1855 and headquartered in Salem, Mass., Salem Five has 23 Massachusetts branches.

Salem Five last introduced a competitive eCD in October 2012. That offer lasted through mid-March.

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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