bank rates

CD Rates Leaderboard For Nov. 2, 2011: Goldwater Cuts Short-Term Rates

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.Goldwater Bank has cut 3- and 6-month CD rates by a tenth of a percentage point.

But that’s not enough to bump it from the top of our CD Rates Leaderboard in either term.

The Scottsdale, Ariz., bank with a single office pays 0.80% APY on 3-month CDs and 0.88% APY on 6-month CDs. Both terms require a $5,000 minimum deposit.

The cuts push Goldwater (www.goldwaterbank.com) closer to the competition in our rankings of the best nationally available deals.

Still, just one other bank — Hudson City Savings (www.hcsbonline.com) — pays more than 0.60% APY on 3-month CDs.

Hudson City, with 130 branches in New Jersey, New York and Connecticut, pays 0.75% APY. It requires a $500 minimum deposit for anyone living in that tri-state area but a $5,000 minimum deposit for everyone else.

On 6-month CDs, five other banks pay 0.85% APY or better. They are:

AloStar Bank of Commerce (www.alostarbank.com), an online bank based in Birmingham, Ala., which pays 0.86% APY with a $1,000 minimum deposit.

Ascencia (www.ascenciabank.com), the online division of PBI Bank in Louisville, Ky., which pays 0.85% APY with a $500 minimum deposit.

OneWest Bank (www.owb.com), with 82 branches in southern California, which pays 0.85% APY with a $1,000 minimum deposit.

Stonebridge Bank (www.stonebridgebank.com), with four branches in suburban Philadelphia, which pays 0.85% APY with a $500 minimum deposit.

Virtual Bank (www.virtualbank.com), the online division of Lydian Private Bank, based in Palm Beach, Fla., which pays 0.85% APY with a $10,000 minimum deposit.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, 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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