bank rates

Doral Again The 6-Month CD Champion

Attention signLast month, we offered up an intervention of sorts for anyone thinking about buying a 6-month CD.

Go ahead and read it, all of the data still applies.

Except …

The best nationally available 6-month CD now pays even less after the two banks tied at the top of our CD Rates Leaderboard cut yields.

The top offer has fallen from 0.90% APY to 0.87% APY, a spot it last occupied in October.

Doral Bank Direct (www.doralbankdirect.com) led the term then and is back at the top now with that same exact rate.

The online bank of Doral Bank, the leading community bank in Puerto Rico, which has five branches in northwest Florida and two in New York City, requires a $500 minimum deposit.

AloStar Bank of Commerce (www.alostarbank.com), which is an online bank based in Birmingham, Ala., pays the second-highest rate of 0.75% APY and requires a $1,000 minimum deposit.

Four banks offer 0.70% APY:

BAC Florida Bank (www.bacflorida.com), which is a community bank with one location in Coral Gables that sells its products nationally through My e-BAnC, requires a $500 minimum deposit.

Colorado Federal Savings Bank (www.coloradofederalbank.com), which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

EH National Bank (www.ehnbank.com), which has a single branch in Beverly Hills, Calif., requires a $10,000 minimum deposit.

GE Capital Bank (www.gecapitalbank.com), one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $500 minimum deposit.

The average annual yield offered by big banks and thrifts remains a record low 0.14%.

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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