bank rates

iGObanking Lowers Top 24-Month CD Rate

For the past several weeks iGObanking has been offering savers the best deal of the fall – 2.25% APY on 24-month CDs.

The online division of Flushing Savings Bank cuts the return from 2.25% to 2.00% on 2-year CDs.That not only led our rankings of the best nationally available 2-year CD rates, it beat the next best return by nearly half a point, and was almost as much as you could earn of the top 3-year CD rates.

But outliers like that don’t last long.

That’s why we weren’t surprised to see iGObanking cut its rate to 2.00% APY today.

It’s still more than enough for the online division of Flushing Savings Bank in New York to retain the lead in 2-year CD rates.

The next best nationally available rates on 24-month certificates of deposit are:

1.76% APY with a $5,000 minimum deposit from Melrose Credit Union, which has a single location in Queens, N.Y.

1.75% APY with a $1,000 minimum deposit from Presidential Bank, which has two branches in Maryland, six in Virginia and one in Washington D.C.

1.72% APY with a $1,000 minimum deposit from Bank of Internet, based in San Diego, Calif.

These banks and credit unions qualify for our rankings by imposing no restrictions on who can buy their CDs.

Melrose is one of the few credit unions in our rankings because its unique charter allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

See how these returns compare with CD rates from scores of other banks in our database.

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