E-Loan Bank Now Tops 24-Month CD Rates

E-Loan Bank didn’t make the cut the last time we ranked the best 24-month CD rates.

But over the past several weeks all the banks offering better rates — as high as 2.65% APY — have lowered their returns.

So E-Loan, an online bank that’s part of the Puerto Rican financial conglomerate that owns Banco Popular, now has the best deal — 2.47% APY with a $10,000 minimum deposit.

The sad thing is that that’s lower than the average 24-month CD was paying this time last summer.

The average rate has fallen from 2.58% in July 2008 to 1.53% this week — the lowest it’s been since August 2003.

Click here to compare E-Loan’s deal with the best CD rates from dozens of other banks in our extensive database.