bank rates

Highest CD Rates Roundup For Feb. 14

Bringing you the very best CD rates from credit unions and local banks.I wanted to share a few of the changes this week among the very best 60-month bank CDs.

The top offer on our CD Rates Leaderboard remains 2.15% APY, but there’s been a bit of movement among other banks offering at least 2% on 5-year CDs.

Now that PenFed has limited its 3% CD offer to customers renewing certificates of deposit, these bank CDs are once again the top nationally available deals.

This week, we saw increases at GE Capital Bank, its sister bank GE Capital Retail and at EverBank. There are 12 banks that now offer CDs to all U.S. savers that pay at least 2% APY.

  • GE Capital Bank (gecapitalbank.com) — one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant — boosted its rate from 2.00% APY to 2.05% APY with a $500 minimum deposit.
  • GE Capital Retail Bank (banking.gecrb.com) — the other bank that’s a subsidiary of GE Capital Corp. — increased its offer from 2.00% APY to 2.10% APY with a $25,000 minimum deposit.
  • EverBank (www.everbank.com) — primarily an online bank with 14 branches in Florida — increased its offer from 2.05% APY to 2.13% APY. That move came a week after Everbank cut rates.

There are a number of local deals on our list of the highest CD rates from credit unions and community banks that top these offers. But if you don’t live near one of these institutions, these nationally available bank deals are probably your best bet.

Speaking of our list, this week we added two new deals:

  • ABNB Federal Credit Union in Virginia (www.abnbfcu.org) pays 2.55% APY on 63-month CDs and 1.55% APY on 39-month CDs with a $20,000 minimum deposit. Credit union membership is open to residents of the South Hampton Roads community: Norfolk, Suffolk, Portsmouth, Virginia Beach, Chesapeake and Franklin, as well as Isle of Wight and Southampton counties in Virginia and Currituck County in North Carolina.
  • Eastbank in New York City (www.eastbank-na.com) pays 1.25% APY on 18-month CDs with a $2,500 minimum deposit. CDs must be purchased at one of the bank’s two branches — one in Chinatown and the other in Flushing.

There were a few changes this week to existing deals.

In Indiana, CommunityWide Federal Credit Union’s 6-month, 2% CD offer has expired, as has the 7-month CD offer from Xceed Financial Credit Union in New York. The 48-month CD at Bridgewater Savings in Massachusetts was cut to 1.50% APY from 2.00% APY.

All three offers have been removed from our list.

You’ll find 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 you’ll always know what great deals are out there from credit unions and local banks.

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