bank rates

CD Rates Leaderbord for April 2, 2014

It’s the first of the month, and the typical shuffling is underway on our CD Rates Leaderboard.

Let’s start with CapitalSource, which had offered the best nationally available return on 6-month CDs since Oct. 30.

The plucky community bank out in Los Angeles cut its rates today and fell totally out of our rankings.

The new leader in 6-month CD rates is Doral Bank Direct, which is paying 0.87% APY – just a little less than the 0.90% CapitalSource had paid since Halloween.

Those rate cuts also dropped the LA bank from the logjam at the top of our 12-month rankings.

With CapitalSource no longer in the picture, that leaves four banks still paying 1.05% APY – GE Capital, GE Capital Retail, CIT and AmTrust Direct.

Fortunately, Salem Five Direct boosted its rates and is now our leader in 2-year CDs.

The community bank from northeastern Massachusetts is now paying 1.25% APY, surpassing the 1.20% APY paid by CIT Bank.

It’s the first time since mid-February that our leader in 2-year CDs has paid that much.

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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