bank rates

On 24-Month CD Rates, Look Local

The best nationally available deal pays 1.32%.If you want great 24-month CD rates these days, you’re going to want to look locally.

Because you’re not going to find them on the CD Rates Leaderboard.

The 24-month leader there, Goldwater Bank (, has a single location in Scottsdale, Ariz. With a $5,000 minimum deposit, it’s offering just 1.32% APY.

Sure, that’s well above the 0.55% average annual yield that large banks and thrifts are currently paying for this term.

But we found a higher 28-month CD rate in Washington state — one of the toughest local markets we’ve found for certificates of deposit.

A slew of banks are paying 1.30% APY:

AloStar Bank of Commerce (, the online bank based in Birmingham, Ala., which requires a $1,000 minimum deposit.

American Express Bank (, an online bank owned by the credit card company, which requires no minimum opening deposit.

CIT Bank (, the online consumer bank of CIT Group, Inc., which offers financing to small businesses and middle market companies, with a $1,000 minimum deposit.

Discover Bank (, an online bank owned by the credit card company, which requires a $2,500 minimum deposit.

USAA (, a diversified financial company based in San Antonio, which requires a $1,000 minimum deposit.

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

As we mentioned above, there are numerous local CD rates deals out there that beat the best on our Leaderboard.

Here are the best we’ve found:

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

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Comments (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on October 24th at 06:57 am

    Discover Bank has dropped its 24-month CD rate to 1.25% APY.

  2. Kathy at Bankaholic said:
    on October 28th at 09:49 am

    USAA’s rate has dropped to 1.20% APY. American Plus is now paying 1.36%, and Ent FCU is paying 1.20% on these CDs.

  3. Kathy at Bankaholic said:
    on November 9th at 07:37 am

    Goldwater Bank’s rate is slightly less — 1.31% APY. And Discover Bank’s rate has fallen again, to 1.20%.