bank rates

CD Rates Leaderboard For November 6

There was virtually no change in the best nationally available CD rates last month.

Or so far this month, and you can see below.

But average rates fell for the 24th straight month in October.

All five of the CDs that we track ended the month at new record lows, with the average return on 5-year certificates of deposit declining the most precipitously.

That means there’s a growing gap between what you can earn from the top-paying banks and all of the other banks.

With the Federal Reserve also launching a new bond-buying campaign to push all interest rates even lower we don’t see how the Leaderboard can continue to hold its own through Thanksgiving.

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 2.25% 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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Comments (2)
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2 Existing Comments
  1. DealMaven said:
    on November 8th at 11:04 am

    Once again, there were no changes over the weekend.

    We’ll check again tomorrow morning.

  2. Savings Bonds Best Rates said:
    on November 12th at 05:25 am

    it’s really fluctuating market, need to keep an eye over it.