bank rates

Late August’s Leading 60-Month CD Rates Sag to 2.50% at MainStreet, Kaiser

MainStreet and Kaiser Federal banks are paying 2.50% APY.I hate to be a Debbie Downer, but things aren’t lookin’ good for 60-month CD rates.

A month ago, we were disappointed when the top nationally available 60-month deal fell to 2.65% APY.

Well, that interest rate, and the bank that offered it, are nowhere to be found now.

Today’s top return is just 2.50% APY, offered by both MainStreet Bank and Kaiser Federal Bank.

MainStreet, a northern Virginia bank that sells its CDs nationally through its air banking website (, requires a $500 minimum deposit.

Kaiser (, which has nine branches in southern California, requires a $10,000 minimum deposit.

Sadly, that 2.50% APY is over a full percentage point above the current average yield offered by big banks and thrifts for 60-month CDs, which sunk to 1.45% this week – a record low for the term.

(Actually, every term set a record low this week. Oops – there’s that darn Debbie again. Sorry.)

The next best deals we’re watching for the CD Rates Leaderboard are:

2.40% APY at First Internet Bank of Indiana (, an online bank located in Indianapolis, which requires a $1,000 minimum deposit.

2.35% APY at Discover Bank (, an online bank owned by the credit card company, which requires a $2,500 minimum deposit.

2.31% APY at Aurora Bank (, which has branches in Wilmington, Del., and Jersey City, N.J., and requires a $1,000 minimum deposit.

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, and sell them online or through the mail.

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

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Comments (2)
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2 Existing Comments
  1. Mike at Bankaholic said:
    on August 21st at 09:01 pm

    It looks like Kaiser has cut its rate to 2.25% APY on its special 60-month CD rates.

  2. Kathy at Bankaholic said:
    on August 29th at 08:51 am

    Add First Internet and Aurora Bank to the banks that have dropped their 60-month rates: Theirs are now 2.34% APY and 2.21% APY.