bank rates

CD Rates Leaderboard For Nov. 13, 2012

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates. That didn’t last long.

Airbanking, the online division of MainStreet Bank in northern Virginia, has cut its top nationally available 1-year CD rates from 1.12% APY to a very pedestrian 0.75% APY.

That cut knocks this Internet startup from the top of our CD Rates Leaderboard and out of our rankings altogether.

Just two weeks ago, we reported on a rate boost at airbanking, which over its brief history has frequently made its certificates of deposit competitive, only to slash rates at a later date.

The good news: There’s still a nationally available 12-month CD that pays 1.12% APY.

The online division of Maine’s Northeast Bank — ableBanking — offers that yield with a $1,000 minimum deposit (www.ablebanking.com).

This bank also has a unique quirk about it.

AbleBanking says it will donate $25 to any charity of your choice when you become a customer and another quarter percentage point of your average balance every year thereafter. (So, if you have $10,000 in the bank, it will donate $25 on the anniversary of when you signed up.)

If this deal doesn’t strike you, consider these three other banks that offer similar yields:

  • AloStar Bank of Commerce (www.alostarbank.com), an online bank based in Birmingham, Ala., pays 1.11% APY and requires a $1,000 minimum deposit.
  • Bank of Internet (www.bankofinternet.com), a San Diego, Calif.-based online bank, pays 1.10% APY and requires a $1,000 minimum deposit.
  • CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, pays 1.10% APY with a $25,000 minimum deposit. This bank’s Achiever CD allows you to raise the rate once on this CD if the rate goes up during the term as well as to add to your deposit once.

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

Compare this return with the best CD rates from scores of banks in our extensive database.

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  1. jimshu1 said:
    on November 13th at 03:34 pm

    I’ve spent two days trying to open up a NexBank CD. Their online application has me stuck in a loop and when I phone them, they say they can’t do anything about it. The application is 100% complete, but stuck, and they can’t do anything about it…….. I guess I should be grateful it didn’t go through!