bank rates

Earn 3.03% With The Top 5-Year CD Rates

How can a small credit union with a single office in New York offer the best 60-month CD rates in the country all summer?

And into the fall.

Melrose Credit Union has been offering the best nationally available 60-month CD rates all summre and into the fall.Is 3% too much to pay on a 5-year certificate of deposit?

Must be, because Melrose Credit Union is the only place still offering such a return to savers nationwide — 3.03% APY with a $5,000 minimum deposit, to be exact.

The average return on 5-year CDs has certainly be falling faster than on any of the other CDs we track, dropping from 1.99% APY to 1.70% APY since mid-July.

The next best 60-month CD rates are:

2.90% APY with no minimum deposit required from Sallie Mae Bank, the online bank owned by the big student loan provider.

2.85% APY with a $500 minimum deposit from Acacia Federal Savings Bank, an online bank owned by the Acacia Life Insurance Co.

2.75% APY with a $2,500 minimum deposit from Discover Bank, owned by the credit card company.

2.75% APY with no minimum deposit from American Express Bank, owned by the credit card company.

Melrose Credit Union has a unique charter that allows anyone to join for $1, regardless of where they live or work. You’ll also be required to put at least $25 in a savings account before you can buy one of its CDs.

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. Petra said:
    on September 26th at 11:01 am

    What is the answer to the question you pose? Curious as to how the small banks and c.u.’s seem to beat the big ones so often of these rates.

  2. CrankySaver said:
    on September 26th at 07:44 pm

    Take a look at our post Kudos To Small Banks With Big Rates.