bank rates

Melrose Regains Lead In 2-Year CD Rates

NewDominion Bank cut its rates just a little today, and that was enough for Melrose Credit Union to retake the lead in our rankings of the best 24-month CD rates.

NewDominion Bank cut the return on its 24-month CDs just a little today.

But it was enough to bump the small North Carolina bank from the top of our rankings of the best 24-month CD rates.

NewDominion is now paying 2.00% APY, down from 2.05% APY, with a $3,000 minimum deposit.

That allowed Melrose Credit Union, which continues to offer 2.02% APY with a $5,000 minimum deposit, to retake the lead.

This New York credit union has an unusual open charter that allows anyone to join and buy CDs, regardless of where they work or live, by paying a rock-bottom $1 membership fee.

The next best nationally available rates on 2-year certificates of deposit are:

2.00% APY from Hudson City Savings Bank, which requires a $5,000 minimum deposit from online applicants, but only $500 for in-person purchases at any of its New York, New Jersey or Connecticut branches.

1.94% APY with a $1,000 minimum deposit from Bank of Internet, an online bank based in San Diego.

1.90% APY with a $500 minimum deposit from Stonebridge Bank, which has four branches in southeast Pennsylvania.

1.90% APY with a $5,000 minimum deposit from Colorado Federal Savings Bank, an online bank based in Greenwood Village, Colo.

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

Or use our CD calculator to see how much you can make with these offers.

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Comments (3)
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3 Existing Comments
  1. CrankySaver said:
    on August 4th at 01:04 pm

    Our apologies if you had trouble getting Bankaholic to work this morning. We were experiencing some technical problems. Several members of the IT staff have been flogged. They promise to never let it happen again.

  2. CardShark said:
    on August 4th at 05:08 pm

    Don’t miss all of the new posts on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.

  3. Deal Maven said:
    on August 5th at 08:58 am

    Since we posted this article yesterday, Colorado Federal Savings Bank dropped its rate a tad. It’s now paying 1.85% APY on its 2-year CD.