bank rates

Next Best 5-Year CDs Are Pretty Good, Too

We ran down our rankings of the top nationally available 5-year CD rates on Friday.

Here are four banks paying 2.65% APY on 60-month certificates of deposit, which are very good CD rates.But the next four banks all pay 2.65% APY, which is also a very good deal.

Over 5-years, the difference between what you’d earn with that rate, that and the second-best return of 2.75% APY, works out to a difference of only about $5 for every $1,000 invested.

So we think the 60-month CD rates from these banks are also worth considering for your long-term savings:

First Internet Bank of Indiana, based in Indianapolis, with a $1,000 minimum deposit.

NewDominion Bank, a predominantly online bank with branches in Charlotte and Mooresville, N.C., with a $3,000 minimum deposit.

NOVA Bank , which has a dozen branches in the Philadelphia area, with a $500 minimum deposit.

Tennessee Commerce Bank , which has a single location in Franklin, Tenn., with a $2,500 minimum deposit.

All of these banks accept applications for certificates of deposit over the Internet from savers nationwide.

Click here to compare these deals with the best CD rates from dozens of other banks in our database.

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