bank rates

CD Rates Leaderboard For Sept. 2, 2011: Sallie Mae Tops Other 1-Year CD Rates

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.One year ago, Sallie Mae Bank made its first appearance at the top of our 12-month rankings of the best CD rates.

The online bank owned by the big student lender paid 1.55% APY with no minimum deposit.

Oh, for those days.

Today, Sallie Mae once again owns the best nationally available 1-year CD on our CD Rates Leaderboard.

Only this time, it’s paying 1.20% APY.

Sallie Mae (www.salliemae.com) vaulted to the top after first AloStar Bank of Commerce and now E-Loan cut their rates.

E-Loan (www.eloan.com), an online operation of Banco Popular North America, with 100 branches in New York, California, Florida, Illinois and New Jersey, whacked its rates by 0.14% APY to fall to 1.12% APY.

After Sallie Mae, you’ll find the next the best nationally available 12-month CD rates at:

AloStar, an online bank based in Birmingham, Ala., which pays 1.18% APY with a $1,000 minimum deposit.

MainStreet Bank, a northern Virginia bank that sells its CDs nationally through its airbanking website (www.airbanking.com), which pays 1.16% APY with a $500 minimum deposit.

Virtual Bank (www.virtualbank.com), an online bank owned by Miami-based Sabadell United Bank, which pays 1.16% 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.

Be sure to check out some of the best local CD deals we’ve found, some of which beat Sallie Mae’s rate by nearly a third of a percentage point.

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

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 3.50 out of 5)
Loading...
One Existing Comment
  1. njambi said:
    on September 2nd at 01:38 pm

    though the rates are low, they give us hope that soon we will be saving more with higher APY rates