bank rates

GE Capital Offers Country’s Top 1-Year CD

 GE Capital Offers Country's Top 1-Year CDThe best nationally available 12-month CD has finally climbed back to the rate at which it began 2014.

GE Capital Bank, which has boosted yields in several terms this week, today lifted its 1-year CD rate to 1.10% APY. That’s good enough to take over the top spot on our CD Rates Leaderboard.

You’ll need a $500 minimum deposit to open a certificate of deposit with this bank, one of two online banks owned by the financial services unit of General Electric, the big manufacturer.

GE Capital (www.gecapitalbank.com) also raised rates in the following terms:

  • 6-year CD – to 2.30% APY from 2.15% APY
  • 5-year CD – to 2.25% APY from 2.10% APY
  • 3-year CD – to 1.35% APY from 1.30% APY
  • 2-year CD – to 1.20% APY from 1.15% APY

The new rates are all very competitive, placing GE Capital Bank in the top three or four nationally available deals in 24-, 36- and 60-month CDs.

But on 12-month CDs, the rate boost from 1.05% APY nudges GE Capital ahead of two other banks offering a 1.07% APY deal:

EverBank (www.everbank.com) is a primarily online bank that also has 14 Florida branches. It requires a $1,500 minimum deposit.

VirtualBank (www.virtualbank.com) is the online division of Sabadell United Bank, which has 23 Florida branches and is owned by Banco Sabadell, Spain’s fourth-largest bank. It requires a $10,000 deposit.

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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