bank rates

CD Rates Leaderboard For Sept. 14, 2011: Top 2-, 3- And 5-Year CDs Change Hands

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.We have new top CD rates in three terms we track: 24-, 36-, and 60-month CDs.

But it’s not good news.

After a two-month run atop the CD Rates Leaderboard, a Virginia bank that offered certificates of deposit nationally through its airbanking website has slashed CD rates in three terms.

Indeed, MainStreet Bank cut its rates so far — by a quarter percentage point or more in each term — it now hovers near the bottom of our list of banks to watch.

Three new leaders now offer the best nationally available 2-, 3- and 5-year CD rates:

Goldwater Bank (, which has a single in Scottsdale, Ariz., pays 1.38% APY on its 24-month CDs with a $5,000 minimum deposit.

AmTrust Direct (, the online division of Cleveland-based AmTrust Bank, which is owned by New York Community Bank, pays 1.75% APY on its 36-month CDs with a $1,000 minimum deposit.

Kaiser Federal Bank (, which has nine branches in southern California, pays 2.25% APY on its special 60-month CDs 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.

There are a number of credit union and local deals on CD rates that offer significantly better terms than what you’ll find among the best nationally available deals.

Come back later this afternoon, when we’ll showcase some 5-year CDs that pay as must as three-quarters of a percentage point better than Kaiser’s rate.

And before there are further rate cuts, be sure to review our strategy for buying the CD with the longest term.

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

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