bank rates

Leaderboard: Top 2-Year CDs Now Pay 1.55%, Top 3-Year CDs Now Pay 1.70%

CD rates Leaderboard

Yesterday, E-Loan was the national leader in two of the seven CD terms we track on our CD Rates Leaderboard.

Today, it still is – but at disappointingly lower rates in both terms.

It appears E-Loan took note that it led the 2- and 3-year terms by significant margins and consequently trimmed rates while still retaining the top spot.

Its 2-year yield dropped from 1.60% to 1.55% APY and its 3-year from 1.75% to 1.70% APY.

Among nationally available 24-month bank certificates, 1.60% APY was the best lead we’d seen since June 2011, so we’re sad to see it go.

And in the 36-month term, E-Loan has played with its yield more than a half dozen times – both up and down – since offering 1.85% APY from last July through January.

Compared with where the leads stood when the Federal Reserve raised interest rates in December, the 2-year return is slightly above the 1.52% APY you could earn then.

Meanwhile, the 3-year lead has fallen further underwater compared with December’s 1.85% APY.

E-Loan is the online operation of Popular Community Bank, which has almost 50 branches in New York, New Jersey and south Florida.

Its certificates of deposit require a $10,000 minimum investment.

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