bank rates

Leaders In 6-Month CD Rates Bunch Up

We now have three leaders in 6-month CD rates.

The top five banks are all paying 1.11% APY or 1.10% APY.In fact, all of the top-paying banks are bunched so closely together that there’s only a few pennies difference between what you’ll earn, no matter which one you choose.

Bank of Internet, an online bank based in San Diego, had offered the top rate of 1.15% APY since late October.

Aurora Bank, with branches in Wilmington, Del. and Jersey City N.J., held the second spot with a return of 1.12% APY.

Now they’ve cut their returns to 1.11% APY, with a $1,000 minimum deposit, matching the rate that has been offered by Ascencia, the online division of PBI Bank in Louisville, Ky. Its minimum deposit is $500.

The next best nationally available 6-month CD rate is 1.10% APY from:

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

OneWest Bank, which has 73 branches in Southern California, and requires a $1,000 minimum deposit.

These banks qualify for our rankings by allowing savers to buy certificates of deposit online or by mail with no restrictions on where they must live or work.

The only way you can go wrong is if your don’t pick one of our leaders and buy a 6-month CD that’s paying close to the current average return on 6-month certificates of deposit – a truly pathetic 0.31% APY.

Click here to compare these deals with the best CD rates from dozens of other banks in our database.

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