bank rates

CD Rates Leaderboard For Sept. 5, 2012: AloStar Vaults To Top Of 1-, 2-Year CDs

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.It’s been four months since AloStar Bank of Commerce held a top spot on our CD Rates Leaderboard.

That ends today.

The online bank based in Birmingham, Ala., raised its 1- and 2-year CD rates just enough to grab the lead in both terms.

With a $1,000 minimum deposit, AloStar pays 1.11% APY on 12-month CDs and 1.26% APY on 24-month CDs.

In both cases, the offer is one one-hundredth of a percentage point better than the bank it passed on our Leaderboard.

To get there, AloStar boosted its 1-year CD by a tenth of a percentage point and its 2-year CD by 15 one-hundredths of a percentage point.

The rate increase means the top nationally available deal pays the most it has since mid-July on 12-month CDs. The top nationally available 24-month CD last paid more in April, when AloStar offered a 1.40% APY promotion to celebrate its first birthday.

Even though AloStar offers the best deal to savers in all 50 states, we still like the runner-up (and former term leader) quite a bit.

CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, pays 1.10% APY on 12-month CDs and 1.25% APY on 24-month CDs. Both require a $25,000 minimum deposit.

We like this bank’s Achiever CD because it gives you the onetime option of adding money or bumping up your interest rate should rates rise.

One other bank pays 1.10% APY on 1-year CDs. Bank of Internet (www.bankofinternet.com), the San Diego-based online division of BofI Federal Bank, offers this rate with a $1,000 minimum deposit. It, however, offers no rate-bump or add-on feature.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, 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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  1. chris said:
    on September 10th at 01:19 pm

    Westbound Bank located in Katy, Houston, and Bellaire Texas has the best 30 month CD rate around. Look to them for some of the best CD rates and FREE personal checking accounts, yes Free Checking!
    you can reach them at 713-554-7615.