bank rates

Comerica Bank Strikes Out On CD Rates

This bank doesn't come close to offering CD rates that are even average in any of the terms we track.The good news is that anyone in the United States can open a CD with Dallas-headquartered Comerica Bank.

The bad news is you probably don’t want one.

Since Comerica Bank (www.comerica.com) has branches in Arizona, California, Florida, Michigan and Texas, I looked up CD rates in those states, figuring they’d be the best.

But I couldn’t find a single rate even close to average.

In those states, Comerica is offering:

3-month CD rates at 0.05% APY, vs. an average rate of 0.17% APY. (Leaderboard leader is 0.81% APY.)

6-month CD rates at 0.15% APY, vs. an average rate of 0.26% APY. (Leaderboard is 1.15% APY.)

12-month CD rates that range from 0.20% to 0.25% APY, vs. an average rate of 0.44% APY. (Leaderboard is 1.33% APY.)

24-month CD rates that range from 0.35% to 0.50% APY, vs. an average rate of 0.67% APY. (Leaderboard is 1.50% APY.)

36-month CD rates that range from 0.55% to 0.75% APY, vs. an average rate of 0.97% APY. (Leaderboard is 2.00% APY.)

60-month CD rates that range from 1.04% APY to 1.25% APY, versus an average rate of 1.62% APY. (Leaderboard is 2.60% APY.)

It looks like I owe Citibank a big apology. While its rates are certainly bad, Comerica wins as most pathetic.

Hands down.

If you’re looking for a deal, remember to head to our CD Rates Leaderboard, which is always up-to-date with the top nationally available rates.

There are definitely better deals out there, and you’ll find them if you compare Comerica’s returns with the best CD rates from scores of other 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 (1 votes, average: 4.00 out of 5)
Loading...
One Existing Comment
  1. Kathy at Bankaholic said:
    on August 29th at 10:37 am

    The 36-month and 60-month rates are even lower now is some states.