bank rates

Four Banks Now Offer Top 2-Year Return

iGObanking edged the yield on its 2-year CDs up to 1.35% APY today, bringing it into a four-way tie for the best nationally available return on our CD Rates Leaderboard.

The improvement comes three weeks after the online operation of Flushing Bank in New York joined the 24-month Leaderboard with a new 1.30% APY rate in early April.

Sharing the lead at 1.35% APY is CIT Bank and Synchrony Bank, who have been co-leaders for three months now, as well as Barclays Bank, who tied for the top spot on April 2.

Minimum investment amounts for the four leaders vary: Barclays requires no minimum, iGObanking requires $1,000 and Synchrony, $2,000.

While CIT’s minimum is a hefty $25,000, it comes with the dual option of raising your rate once during the CD’s term and making one additional deposit to your investment.

iGObanking has a well-established reputation for suddenly increasing one of its rates to Leaderboard status and often dropping it just as abruptly. So we suggest you act fast if you’re interested.

In other Leaderboard news, California First National Bank boosted its 6-month CD rate from 0.85% to 0.95% APY, strengthening its second-place status behind MySavingsDirect’s 1.05% APY.

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