bank rates

More Banks Boost 5-Year CD Rates

Chart showing something rising.The party at the 60-month term is going strong, with four banks now posting CD rates of 2.10% APY or higher.

And the number of banks in the 2% club has climbed to 11.

As we pointed out the other day, that’s the most nationally available deals offering a return this large we’ve seen in more than two years.

The top nationally available 60-month CD rate on our CD Rates Leaderboard is 2.16% APY, a month-old offering from EverBank.

Chart showing top and average 60-month CD rates

EverBank (, which is primarily an online bank with 14 branches in Florida, requires a $1,500 minimum deposit.

Two banks pay the second-highest, ever-so-slightly lower rate of 2.15% APY:

Barclays (, which is the online American operation of the worldwide British bank with more than $2 trillion in assets, has no minimum balance requirement. It boosted rates just last week.

iGObanking (, the online division of Flushing Savings Bank, which has 17 locations in New York, requires a $1,000 minimum deposit.

Dime Savings Bank of Williamsburg (, which has 25 branches in the New York City area, pays 2.10% APY and requires a $500 minimum deposit.

Two banks pay 2.05% APY:

The New York branch of the State Bank of India (, the FDIC-insured New York branch of India’s largest bank, which operates independently of other U.S. branches, requires a $5,000 minimum deposit.

State Farm Bank (, which is the online bank of the insurance company, requires a $500 minimum deposit. It also boosted its rate last week.

Virtual Bank (, the online division of Sabadell United Bank, which has 23 branches in Florida and is owned by Banco Sabadell, Spain’s fourth-largest bank, continues to pay 2.02% APY and requires a $10,000 minimum deposit.

Four banks pay 2.00% APY:

BBVA Compass (, which has 688 branches in the Sun Belt region, requires a $500 minimum deposit.

GE Capital Bank (, which is one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $500 minimum deposit.

GE Capital Retail Bank (, the other bank that’s a subsidiary of GE Capital Corp., requires a $25,000 minimum deposit.

Salem Five Direct (, the online division of Salem Five Bank, which has 23 branches just north of Boston, requires a $10,000 minimum deposit.

The average annual yield that large banks and thrifts offer for 60-month CDs is 0.79%.

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

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

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