bank rates

Highest CD Rates Roundup For April 27

Bringing you the very best CD rates from credit unions and local banks.The Federal Reserve this week reaffirmed its commitment to hold short-term interest rates at “exceptionally low levels” at least through late 2014.

No surprise there, considering Chairman Ben Bernanke believes interest rates should be even lower than they are.

Unfortunately, the Fed’s negative influence on deposit rates has continued, with average yields on certificates of deposit at record lows.

The average 60-month CD rate this week fell to a record-low 1.13% APY, according to our latest survey of large banks and thrifts.

And the top nationally available 5-year CD on our list of highest CD rates from credit unions and local banks also fell.

Melrose Credit Union cut its long-term rates, pushing its 60-month CD out of the top spot. Melrose still has a competitive offering at 2.17% APY.

The good news is all of the CD rates on our list are well above average. A number of 60-month CDs we’ve found pay nearly double the national average.

And we’ve added a couple of new deals to our list this week:

  • Space City Credit Union pays 2.53% APY on its 60-month CDs, available to select employee groups and residents near its Houston branches.
  • The Mint National Bank pays 2.10% APY on its 60-month CDs, available to Texas residents.

Aside from the cuts at Melrose, none of the other existing deals on our list changed.

You’ll find all the top-paying deals clearly marked on our highest CD rates page, showing where they are available, with a quick link back to the original post, which includes more information on the institution and its requirements.

We’ll update this page weekly so that you’ll always know what great deals are out there from credit unions and local banks.

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