bank rates

New Leader, Better Return, For 1-Year CDs

Although average 12-month CD rates continue at record-low levels, the top nationally available rate has finally increased a little.

E-Loan (www.eloan.com) returned to the CD Rates Leaderboard last month and now tops our October survey of the best nationally available returns on 1-year CDs, paying 1.10% APY.

This online subsidiary of Banco Popular, a Puerto Rican bank with 97 branches in the United States, requires a $10,000 minimum deposit.

Three banks still offer the top rate in our September survey of 1.05% APY:

DollarSavingsDirect (www.dollarsavingsdirect.com), which is the online division of New York-based Emigrant Bank, requires a $1,000 minimum deposit.

GE Capital Bank (www.gecapitalbank.com), 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 better known for stylish kitchen appliances and jet engines requires a $500 minimum deposit.

GE Capital Retail Bank (www.gecrb.com), the other subsidiary of GE Capital Corp., requires a $25,000 minimum deposit. Go figure.

Nationwide Bank (www.nationwide.com), which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, pays 1.01% APY and requires a $500 minimum deposit.

Three banks pay 1.00% APY:

CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, offers an Achiever CD that allows you to raise the rate once during the term, as well as add to your deposit once, with a $25,000 minimum deposit.

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

Palladian PrivateBank (www.palladianprivatebank.com), which is a division of The PrivateBank and Trust Company, requires a $10,000 minimum deposit.

Four banks pay 0.95% APY:

BAC Florida Bank (www.bacflorida.com), which has one location in south Florida and sells its products nationally through My e-BAnC, requires a $500 minimum deposit.

Doral Bank Direct (www.doralbankdirect.com), the online operation of Doral Bank, requires a $500 minimum deposit. It’s the leading community bank in Puerto Rico and has five branches in northwest Florida and two in New York City.

EH National Bank (www.ehnbank.com), which has a single branch in Beverly Hills, Calif., requires a $10,000 minimum deposit.

Giant Bank (www.giantbank.com), the online division of Landmark Bank, which has a single branch in Ft. Lauderdale, Fla., requires a $2,500 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term is 0.23% for the fifth week.

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