bank rates

Highest CD Rates Roundup For Nov. 29

Bringing you the very best CD rates from credit unions and local banks.Thanksgiving might be over, but there are still plenty of turkeys out there.

It’s been five months since we stopped reviewing CD rates from the big banks. In a way, I miss this weekly ritual because it was good for a laugh.

But the offers from the Big 4 – Bank of America, Chase, Citi and Wells Fargo – were so offensive, it was time to give up reviewing their rates regularly.

But this being a week of giving thanks, I thought I’d take a look at where some of the big boys stand. I’ll remain ever thankful I don’t have a certificate of deposit from one of these institutions.

To frame this argument correctly, five months ago, the top nationally available 60-month CD paid 1.76% APY. Today, the best deal on our CD Rates Leaderboard pays 2.05% APY.

Quite the improvement.

So how have the largest banks in the country responded? Like your uncle, who brought nothing to the Thanksgiving table but managed to help himself to a plate full of food you worked hard to cook.

In June, Wells Fargo paid 0.50% APY for its special 58-month CDs (we checked the Chicago region). It pays no better today.

Bank of America has fared even worse.

It paid 0.45% APY on its 60-month CD available to Platinum Privileges customers – folks who deposit a minimum of $50,000 in combined balances in Bank of America deposit accounts and/or Merrill Edge brokerage accounts while also owning an active Bank of America checking account or a Merrill Edge brokerage account.

Today, it pays an even more meager 0.30% APY. That’s nearly half a percentage point below the average 5-year CD rate.

You get the picture. The other big banks are no better. There’s a reason why we stopped writing about these institutions.

They’re all turkeys.

Highest CD Rates

This week, we added two deals to our list of the highest CD rates from credit unions and local banks:

  • Coastal Community and Teachers Credit Union in Texas ( pays 1.34% APY on 24-month CDs and 1.51% APY on 36-month CDs with a $1,000 minimum deposit. Credit union membership is available to those who live or work in Nueces, San Patricio, Aransas, Kleberg, Jim Wells or Duval counties along Texas’ gulf coast.
  • Start Community Bank in Connecticut ( pays 1.65% APY on 36-month CDs with a $500 minimum deposit. You have to be a Connecticut resident to purchase these certificates of deposit and do so in person at one of two New Haven branches.

We had one change to existing deals on our list.

Stanford Federal Credit Union in California ( raised its jumbo 60-month CD rates from 2.22% APY to 2.27% APY with a $100,000 minimum deposit and from 2.17% APY to 2.22% APY with a $50,000 minimum deposit. It cut rates on deposits of $1,000 (now 2.02% APY) and $25,000 (now 2.07% APY).

These rates are available to customers with a loan or checking account with direct deposit. Anyone can join this credit union.

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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