bank rates

Incrediblebank Leads 12-Month CD Rates

Seven months ago, Incrediblebank abruptly cut off new CD applications, eliminating the top nationally available deal on 12-month CDs from our CD Rates Leaderboard.

Now, the online division of River Valley Bank, based in Wausau, Wis., is once again offering 1-year certificates of deposit. And once again, it’s the top nationally available deal.

Incrediblebank is paying 1.45% APY on its 12-month CDs. That’s good enough to knock Melrose Credit Union out of the top spot for the first time in five months.

One potential downside: Incrediblebank requires a $10,000 minimum deposit, twice as much as you’ll need to earn Melrose’s 1.41% APY. It also charges a 6-month penalty for early withdrawal.

Here’s where to find all of the top CD rates:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs California First 0.80% APY $5,000
6-Month CDs Metropolitan National 1.15% APY $1,000
12-Month CDs Incrediblebank 1.45% APY $10,000
24-Month CDs Salem Five 1.75% APY $10,000
36-Month CDs Melrose Credit Union 2.17% APY $5,000
60-Month CDs Melrose Credit Union 2.93% APY $5,000


Banks and credit unions qualify for our rankings by selling their certificates of deposit online or through the mail to savers nationwide.

Melrose is one of the few credit unions eligible for 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.)

The other banks on today’s Leaderboard are:

  • Metropolitan National Bank, which has three branches in Manhattan and one in Brooklyn.
  • Salem Five, which has 22 branches north of Boston.
  • California First National Bank, an online bank based in Irvine, Calif.

Compare these returns with the best CD rates from scores of other banks in our database.

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  1. SeniorSaver said:
    on February 15th at 01:26 pm

    The other downside of the Incredible 12-month CD, for me at least, is that interest can’t be withdrawn until maturity. Nevertheless, because it’s only for one year, and the rate is good, I opened a minimum denomination CD this morning. (I was also overcome by nostalgia, having spent many childhood summers in northern Wisconsin.)