bank rates

Gap Between Top 3-, 5-Year CDs Widens

More than half of a percentage point now separates the top nationally available 36- and 60-month CD rates on our CD Rates Leaderboard.

That’s the largest spread between the top 3- and 5-year CD rates since the end of 2011.

Of course, the best 60-month CDs have rebounded a bit. We’re still waiting for 36-month CDs to pick themselves off the floor.

It’s even been difficult scouting local deals for this term.

Not that there hasn’t been some progress. At this point last year, 36-month CD rates topped out at 1.42% APY.

Chart showing the average 36-month CD rate vs. the top deals

Two banks continue to offer the lead rate of 1.50% APY:

Salem Five Direct (www.salemfivedirect.com), the online division of Salem Five Bank, which has 23 branches just north of Boston, requires a $10,000 minimum deposit.

Northern Bank & Trust Co. (www.nbtc.com), which has 11 branches in Massachusetts, requires a $500 minimum deposit.

Intervest National Bank (www.intervestnatbank.com), which has a single branch in New York City and six branches in Florida, now offers the second-best rate of 1.40% APY and requires a $2,500 minimum deposit.

The FDIC-insured Chicago branch of State Bank of India (www.sbichicago.com), India’s largest bank, which operates independently of other U.S. branches, pays 1.31% APY and requires a $2,500 minimum deposit.

The New York branch of the State Bank of India (www.statebank.com), which is also an independent U.S. branch of India’s largest bank, pays 1.30% APY and requires a $5,000 minimum deposit.

The average annual yield that large banks and thrifts are offering for 36-month CDs remains 0.46% APY this week.

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, 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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