bank rates

E-Loan Moves To The Top Of Our CD Rates Leaderboard For 12-Month Deposits

This is a great page to bookmark so you can always find the best nationally available deals on the most popular CD rates.The best 1-year CD rate is just a little lower today than it was yesterday.

You’ll also find a new bank offering that top return on our CD Rates Leaderboard.

AloStar Bank of Commerce which had provided savers with the best nationally available interest rate since Aug. 1, lowered its return from 1.27% APY to 1.18% APY this morning.

That’s still the third best deal in the country, and the online bank based in Birmingham, Ala., requires a modest $1,000 minimum deposit.

But the revision allowed E-Loan and Sallie Mae Bank to move ahead of AloStar in our rankings.

E-Loan (www.eloan.com) is an online operation of Banco Popular North America, the U.S. division of a large Puerto Rican bank that has 100 branches in New York, California, Florida, Illinois and New Jersey.

It’s paying 1.26% APY, although it requires a hefty $10,000 minimum deposit to qualify for that interest rate.

Sallie Mae (www.salliemae.com), the online bank of the big student loan company, is paying 1.20% APY and has no minimum balance requirements.

After AloStar (www.alostarbank.com) the next best return on 12-month CDs is 1.16% APY from:

Virtual Bank (www.virtualbank.com), an online bank owned by Miami-based Sabadell United Bank, which requires a $10,000 minimum deposit.

MainStreet, a northern Virginia bank that sells its CDs nationally through its airbanking website (www.airbanking.com), which requires a $500 minimum deposit.

Banks qualify for our rankings by accepting deposits from all savers, regardless of where they live, 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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Comments (2)
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  1. Kathy at Bankaholic said:
    on September 21st at 09:13 am

    Only Sallie Mae and MainStreet are still offering the rates quoted here.

  2. Kathy at Bankaholic said:
    on September 26th at 10:27 am

    Sallie Mae’s and MainStreet’s rates are the only ones still available.