bank rates

New Bank Nears Top Of 3-Year CD Rates

New Dominion Bank has been steadily moving up in many of our rankings of the best CD rates over the past couple of weeks.

This small Charolotte, N.C.,-based bank now offers the second best 36-month CD rate.Although the small North Carolina bank hasn’t been able to claim a spot on our CD Rates Leaderboard, it now has the second-best deal on 36-month CDs.

New Dominion, which has a couple of branches in Charlotte and Mooresville, is paying 2.50% APY with a minimum deposit of $3,000.

That’s just short of the top return offered by Melrose Credit Union — 2.52% APY with a $5,000 minimum deposit.

This credit union, with a single office in Queens, N.Y, has an unusual open charter that allows all U.S. residents to join (for just $1) and buy its CDs.

The next best nationally available rate on 3-year certificates of deposit is 2.40% with on minimum deposit from Sallie Mae Bank, an online bank owned by the big student loan provider.

Although the national average for a 36-month certificate of deposit hit a record low of 1.42% this week, the top CD rates in this category have remained fairly steady over the past four weeks.

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

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Comments (7)
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7 Existing Comments
  1. A.Wishard said:
    on July 15th at 03:15 pm

    Pentagon federal Credit Union is still offering a 3-year CD at 2.5% with no minimums.

  2. RateRunner said:
    on July 15th at 03:39 pm says that EverBank has one of the best nationally available deals on 30-year, fixed-rate mortgages. The online bank based in Jacksonville, Fla., is charging just 4.25% with no points and a low $647 in fees. If you’re in the market for a new home loan, check it out.

  3. CrankySaver said:
    on July 15th at 03:57 pm

    After months of insisting it did absolutely nothing wrong, Goldman Sachs paid $550 million to settle charges that it defrauded investors in subprime mortgages. So much for the investment bank’s contention that the allegations were “completely unfounded in law and fact.” It’s the largest penalty any Wall Street firm has ever paid the Securities and Exchange Commission.

  4. CrankySaver said:
    on July 15th at 03:58 pm

    Stocks recovered from some morning losses to close the day virtually unchanged. The Dow Jones industrial average lost a few points and broke its seven-day winning streak. The S&P 500 index ended just above breakeven, and the Nasdaq composite lost a few points.

  5. CardShark said:
    on July 15th at 04:11 pm

    How fitting that the Senate finally passed the financial reform bill only moments before Goldman admitted its culpability. It now goes to the president to sign into law. We can only hope it will prevent a repeat of the reckless lending and dishonest Wall Street practices that nearly destroyed the financial industry and caused the worst recession since the Great Depression.

  6. RateRunner said:
    on July 15th at 04:45 pm

    I just checked and Liberty Bank in Chicago is still offering this local special on 66-month CDs. It’s paying 3.10% APY with a $2,500 minimum deposit.

  7. Mary in Maryland said:
    on July 15th at 04:51 pm

    Looks like PenFed is paying 2.25% on a 3 year cd with a $1,000 minimum deposit according to its web site