bank rates

Danversbank Joins Leaders In 3-Year CDs

Danversbank has grabbed a top spot in our rankings of the best 36-month CD rates.This Massachusetts bank, with more than 30 branches in the Boston area, is now paying 2.50% APY with an affordable $500 minimum deposit.

This Massachusetts bank with more than 30 branches in the Boston area is now paying 2.50% APY with an affordable $500 minimum deposit.

That only trails our leader, Melrose Credit Union, by the smallest of margins.

This unusual credit union with a single office in Queens, N.Y., continues to pay the top rate of 2.52% APY with a $5,000 minimum deposit.

Melrose is included in our rankings because its open charter allows all U.S. residents to join, regardless of where they live or work, and membership only costs $1.

The next best nationally available rate is 2.40% APY from these three banks:

NewDominion Bank , which has branches in Charlotte and Mooresville, N.C., and requires a $3,000 minimum deposit.

Acacia Federal Savings Bank, an online bank owed by the Acacia Life Insurance Company, of Falls Church, Va., with a $500 minimum deposit.

Kaiser Federal Bank, which has nine offices in southern California and requires a $1,000 minimum deposit.

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

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Comments (2)
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2 Existing Comments
  1. CrankySaver said:
    on August 6th at 10:02 am

    Companies shouldn’t hoard large sums of cash. They’re supposed to spend their profits to grow the business and the value of their stock, or raise the dividend and pass that money on to their shareholders. So why are American companies sitting on a record pile of cash that’s not helping them, their shareholders or the economy? Check out this and all of the other new posts on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.

  2. DealMaven said:
    on August 6th at 10:33 am

    There were no changes on The CD Rates Leaderboard For August 5 when we checked this morning. We suspect that these rates will hold throughout the weekend.

    Look for a new Leaderboard update first thing Monday morning.