bank rates

Leader Emerges For Top 12-Month CDs

pink piggy bank on top of pile of moneyOne bank has finally risen above the rest, ending the multi-way tie for the best 12-month CD rate on our CD Rates Leaderboard. (, the online division of Florida-based Citizens State Bank, now pays the top rate of 1.10% APY and requires a $1,000 minimum deposit.

The term last boasted a higher rate in mid-December 2012.

Four banks continue to offer the former lead rate of 1.05% APY.

CIT Bank (, the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, offers one of its Achiever CDs for the 12-month term. With $25,000 minimum deposit, the Achiever CD allows you to raise the rate once if the rate goes up during the term as well as add to your deposit once.

Colorado Federal Savings Bank (, which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

GE Capital Retail Bank (, which is a subsidiary of GE Capital, requires a $25,000 minimum deposit.

NexBank (, which is a division of NexBank Capital Inc. and has two branches in Texas, requires a $10,000 minimum deposit.

One bank pays 1.02% APY, and eight other banks are offering 1.00% APY.

The current average annual yield offered by big banks and thrifts for the 12-month term remains at 0.27% APY for the sixth week.

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either 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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