bank rates

Highest CD Rates Roundup For July 25

Bringing you the very best CD rates from credit unions and local banks.In two weeks, EverBank has gone from offering the top nationally available 1-year CD to no longer rating a mention on our list of the best 12-month CD rates.

This Florida-based, primarily online bank last week cut its rate from 1.10% APY to 1.01% APY. Today, EverBank pushed its offer all the way down to 0.86% APY. Truly terrible.

We saw another cut in 12-month CDs this week when the online bank VirtualBank trimmed its offer from 1.07% APY to 1.01% APY. VirtualBank, a division of Sabadell United Bank in Florida, also knocked off a tenth of a percentage point on its 24-month CD, from 1.26% APY to 1.16% APY.

It had been offering the best nationally available deal in that term.

But not all the news is bad.

This week, we wrote about Synchrony Bank’s nice 15-month CD, which pays 1.2% APY.

And Texas-based NexBank boosted its 24-month CD rate to 1.25% APY, just shy of the best nationally available deal in that term.

Plus, we added attractive offers from two institutions to our list of the highest CD rates from credit unions and local banks:

  • Advancial Federal Credit Union ( pays 1.52% APY on 36-month CDs, 1.98% APY on 48-month CDs and 2.41% APY on 60-month CDs with a $25,000 minimum deposit. Credit Union membership is open to select groups that live near its branches in Alaska, Louisiana, New Jersey, Oklahoma and Texas.
  • Service 1st Federal Credit Union in Pennsylvania ( pays 1.50% APY on 24-month CDs with a $500 minimum deposit. Credit union membership is open to select groups that live or work in certain areas of northeastern Pennsylvania.

We have no rate increases to report with regard to existing deals on our list, but we do have several cuts this week.

Doral Bank, with branches in New York and Florida, cut its 36-month CD rate from 1.55% APY to 1.45% APY, its 24-month CD rate from 1.40% APY to 1.30% APY, its 12-month CD rate from 1.15% APY to 1.05% APY and its 6-month CD rate from 0.90% APY to 0.80% APY. The 6- and 12-month offers have both been removed from our list.

We also removed from our list the 33-month CD special from Everett Co-operative Bank in Massachusetts after the bank discontinued the offer.

Third Federal Savings & Loan in Ohio cut its 49-month CD rate (available to all savers) from 2.00% APY to 1.85% APY.

And savers hoping to grab the 42-month, 2% APY special from Kemba Credit Union in Ohio should do so now. The offer is scheduled to end Saturday.

We’ll update our page listing the highest CD rates weekly, so you’ll always know what great deals are out there from credit unions and local banks.

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