bank rates

Dominance Continues In 1-Year CD Rates

The national leader in 12-month CD rates is apparently untouchable.

Melrose Credit Union offers a 1.41% APY.Melrose Credit Union‘s 1.41% APY is now more than five months strong and has been good enough to lead the term for the vast majority of 2011.

Any upheaval at the top is now just a blip on the radar.

That top rate is double the 0.70% APY large banks and thrifts are currently offering for 12-month CDs.

Melrose Credit Union has a single office in New York City and requires a $5,000 minimum deposit.

The second-best 12-month CD rate, by term newcomer Pacific Mercantile Bank, isn’t nearly as good. The southern California bank with seven branches is paying 1.26% APY with a $10,000 minimum deposit.

The next-best nationally available 12-month rates we’ve been tracking for our CD Rates Leaderboard are:

1.25% APY at MetLife Bank, the insurance giant’s online bank which requires a $25,000 minimum deposit.

1.25% APY at Ascencia, the online division of PBI Bank in Louisville, Ky., that requires a $500 minimum deposit.

1.24% APY at Aurora Bank, which has branches in Wilmington, Del., and Jersey City, N.J., and requires a $1,000 minimum deposit.

1.21% APY at Bank of Internet USA, an online bank based in San Diego, Calif., that requires a $1,000 minimum deposit.

These banks and credit unions 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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  1. Lightrider said:
    on May 1st at 11:15 pm

    These sorry rates STILL suck. Don’t report like there the greatest thing since sliced bread!!