bank rates

Last Day To Grab Top 3-, 5-Year CD Rates

MainStreet Bank plans to cut its CD rates on Friday.Today is your last chance to catch the top nationally available 36- and 60-month CD rates before they get trimmed.

As we predicted would happen this week, MainStreet Bank plans to cut its 3-year rates on Friday. It also will trim its 4- and 5-year CD rates, sources said.

But you still have until the end of today to take advantage of current rates on its airbanking.com website. MainStreet Bank’s 24-, 36- and 60-month CD rates top our CD Rates Leaderboard.

On Friday, the Virginia-based bank will cut rates in three terms by a tenth of a percentage point. With a $500 minimum deposit, it will pay:

  • 1.90% APY for 36-months.
  • 2.40% APY for 48-months.
  • 2.50% APY for 60-months.

That’s still good enough to top our Leaderboard in the 3- and 5-year terms. (The bank plans to leave untouched its 1.50% APY 24-month CD rates.)

But if you fill out an application today, the bank will honor the current rates – 2% for 3 years, 2.5% for 4 years and 2.6% for 5 years, sources said.

If you can’t get to one of MainStreet Bank’s branches in Arlington, Fairfax, Herndon or McLean, you must purchase these certificates of deposit online, which can be a confusing experience.

Follow these instructions on how to buy a CD from airbanking.com.

We rarely get insight into when and by how much a bank will change its CD rates.

So savers, this is one tip that can earn you a bit more money.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 4.50 out of 5)
Loading...
One Existing Comment
  1. Mike Cetera said:
    on August 12th at 08:55 am

    The CD rates have, in fact, been cut as of this morning, but MainStreet Bank’s 3- and 5-year rates still top our CD Rates Leaderboard.