bank rates

Top 1-Year CD Rates Bunching Together

The top 12-month CD pays 1.15% APY.You’ll find just one change among the best 12-month CD rates since we last reported on this term in mid-February.

And it’s not at the top.

Late last month, MetLife Bank raised its CD rates slightly, putting it in contention for the top of our CD Rates Leaderboard.

But the top honor still belongs to two banks: Doral Bank Direct and KeySource Commercial Bank.

Both pay 1.15% APY.

Doral Bank Direct (, the online bank of Doral Bank, the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, requires a $1,000 minimum deposit.

KeySource Commercial Bank (, which has a single branch in Durham, N.C., requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

While CIT Bank Bank ( offers a lower 1.08% APY, it also offers hope for earning a better rate in the future.

We’ve noted before that the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, allows you to raise the rate once on this CD if the CD rate goes up during the term and add to your deposit at any time.

The minimum deposit for this Achiever CD is $25,000.

Three banks pay 1.05% APY:

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

MetLife (, the insurance giant’s online bank, which requires a $25,000 minimum deposit. As we mentioned above, MetLife recently raised its rate from 1.00% APY.

Nationwide Bank (, an online bank owned by Nationwide Mutual Insurance Company and its affiliates, which has a$500 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term is 0.34% for the fifth week.

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

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

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Comments (1)
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One Existing Comment
  1. Kathy at Bankaholic said:
    on April 16th at 07:48 am

    Nationwide Bank has dropped its 12-month rate to 1.03% APY. The other rates are still available.