bank rates

CD Rates Leaderboard For November 10

Melrose Credit Union continues to hold three of the top six spots in our rankings of the best nationally available CD rates.

We’ve written so much about this small New York credit union over the past few months that we felt like we just had to go there to assure ourselves – and you – that it really existed.

So we hopped on the E Train and ventured out to Queens in search of Melrose’s single office and the secret to why this little credit union can offer savers the best CD rates in the country.

Tag along with us over on the Personal Finance blog.

TERM BANK RATE MIN. DEPOSIT
3-Month CDs Nexity Bank 0.86% APY $1,000
6-Month CDs Bank of Internet 1.15% APY $1,000
12-Month CDs Melrose Credit Union 1.51% APY $5,000
24-Month CDs iGObanking 2.00% APY $1,000
36-Month CDs Melrose Credit Union 2.27% APY $5,000
60-Month CDs Melrose Credit Union 3.03% APY $5,000

The links in the Leaderboard are to our most recent, complete rankings for those terms. While all rates are valid on the day the rankings were posted some may have changed since then.

These banks and credit unions qualify for our rankings by imposing no restrictions on who can buy their CDs. The banks take applications over the Internet.

Melrose is one of the few credit unions in 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.)

You can find the application online, but you must print it and mail it in with the required documentation. Once you’ve become a member you can request an application to purchase a CD by phoning or emailing the credit union.

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

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