bank rates

Former Lehman Bank Tops 2-Yr. CD Rates

A year after Lehman Brothers spectacular collapse its former, federally-insured bank has risen to the top of our rankings of the best, nationally-available 24-month CD rates.

Lehman Brothers Bank was not part of its owner’s bankruptcy and is trying to get a fresh start by taking the name of the Roman goddess of the dawn.

Aurora Bank, as it's now called, is offering 2.45% APY with a $5,000 minimum deposit.Aurora Bank, as it’s now known, certainly made our morning by offering a 24-month certificate of deposit for 2.45% APY with a $1,000 minimum deposit.

That isn’t as high as the 2.50% APY two banks were paying in our early-September rankings of the top-paying 24-month CDs.

But since then Tennessee Commerce Bank cut its rate to 2.15% APY and Frontier Bank lowered its return to 2.40% APY.

Aurora, which is based in Wilmington, Del., and has a branch in Jersey City, N.J., allows savers to apply online and transfer money from checking or savings accounts to buy its certificates of deposit.

Click here to compare its deal with the best CD rates from dozens of other banks in our extensive database.

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Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 4.33 out of 5)
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  1. DealMaven said:
    on October 1st at 10:34 am

    It didn’t take long for Aurora Bank to fall from first place in our ranking of the best paying 24-month CDs. The new APY is 2.33%, which knocks it down to third place.

    Frontier Bank maintained its 2.40% APY and once again tops the list of highest yields on 24-month CDs.