bank rates

October’s Best 6-Month CDs Pay Up To 1%

Hand grabbing money out of a jarWe’ve seen two changes to the top nationally available 6-month CD rate on our CD Rates Leaderboard in the past five weeks.

Both were boosts to 1.00% APY, and both were from iGObanking.

Its first hike lasted about 24 hours, but the second go-around has stuck around for more than two weeks.

Perhaps there’s hope for short-term CD rates after all.

iGObanking (www.igobanking.com), the online division of Flushing Bank, which has 17 locations in New York, requires a $25,000 minimum deposit.

Former leader Doral Bank Direct (www.doralbankdirect.com), the online bank of Doral Bank, the leading community bank in Puerto Rico, which also has five branches in northwest Florida and two in New York City, continues to pay 0.87% APY with a $500 minimum deposit.

The same two banks offer what is now the third-highest offering of 0.80% APY:

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

National Republic Bank of Chicago (www.nrbchicago.com), which has two branches in Chicago, requires a $1,000 minimum deposit.

But the number of banks paying 0.70% APY has risen to five:

ableBanking (www.ablebanking.com), the online division of Northeast Bank, which has 10 branches in Maine, requires a $1,000 minimum deposit.

BAC Florida Bank (www.bacflorida.com), which is a community bank with one location in Coral Gables that sells its products nationally through My e-BAnC, requires a $500 minimum deposit.

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

First Internet Bank of Indiana (www.firstib.com), an online bank located in Indianapolis, which 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, requires a $500 minimum deposit.

The average annual yield offered by big banks and thrifts has been 0.15% for 15 straight weeks.

We currently track nationally available CD rates from 21 banks. Follow the daily changes to the best 6-month CD rates.

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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