bank rates

CD Rates Leaderboard For Oct. 16, 2013

The New York branch of the State Bank of India has cut its 60-month CD rate from 2.10% APY to 2.05% APY.

That’s still good enough to top our CD Rates Leaderboard.

But the best nationally available rate in nearly two years is gone after a two-week run.

With a minimum deposit of $5,000, this deal will be available through at least Oct. 22, the bank announced on its website today.

State Bank of India (www.statebank.com) is one of six banks to pay at least 2% on regular 60-month CDs.

A seventh bank, GE Capital Retail (banking.gecrb.com), this week boosted its 5-year jumbo CD rate to 2%. You’ll need a hefty $100,000 minimum deposit to qualify for this rate.

A $25,000 minimum deposit pays 1.95% APY, while a $2,000 deposit pays 1.80% APY.

This bank is a subsidiary of GE Capital Corp., the financial services unit of the manufacturing giant known for kitchen appliances and jet engines.

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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