bank rates

CD Rates Leaderboard For September 18

We don’t usually have to update the Leaderboard over the weekend, but we have a new leader in 3-month CD rates.

VirtualBank, an online division of Lydian Private Bank in Palm Beach Gardens, Fla., has replaced ISN Bank, which was seized by the Federal Deposit Insurance Corp on Friday.

It’s the first time a bank has failed while at the top of our rankings for certificates of deposit, savings or checking accounts. But I guess we’re seeing a lot of first’s in this economy, eh?

The best nationally available CD rates are now:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs VirtualBank 0.90% APY $10,000
6-Month CDs Aurora Bank 1.17% APY $1,000
Ascencia 1.17% APY $500
12-Month CDs Melrose Credit Union 1.51% APY $5,000
24-Month CDs Discover Bank 1.80% APY $2,500
36-Month CDs Danversbank 2.50% APY $500
60-Month CDs Melrose Credit Union 3.03% APY $5,000

All of these banks accept online applications from customers in all 50 states.

We include Melrose in our rankings because it has a unique charter that allows anyone to join for only $1, regardless of where they live or work.

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

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  1. Connor said:
    on September 20th at 10:29 am

    Good thing these deposits are insured. But it does seem as if we’re seeing more failing banks trying to drum up business to stave off the inevitable. Makes you wonder whether it’s wise to throw your money at the banks offering the best rates if you don’t know much about their solvency.