Local Deals Still Top Best National CD Rates

All of the best CD rates are being offered by small banks.

Those that top our rankings of the best nationally-available rates don’t care where you live.

But the majority of small banks only sell certificates of deposit to local customers and the deals they offer often beat the best nationally-available rates.

That’s why savers trying to make a buck in this terrible market must routinely check the rates at community banks. (And nearby thrifts and credit unions, too.)

Right now, for example, local customers can earn:

3.00% APY on a 7-month CD with a minimum deposit of only $1 from South Central Bank, which has five branches in Chicago. The best nationally-available rate on a 6-month CD is 1.65%.

2.65% APY with a minimum $1,000 deposit on a 12-month CD from First National Bank in Savannah, Ga. The best nationally-available rate is 2.10%.

2.73% APY with a minimum deposit of $2,500 on a 25-month CD from First Bank in Sterling, Kan. The best nationally-available rate on a 24-month CD is 2.60%.

3.44% APY with a minimum deposit of $500 on a 36-month CD from Farmers & Merchants Bank in Statesboro, Ga. The best nationally-available rate is 3.03%.

See exactly how much you can make at these rates with our new CD calculator.