bank rates

One Bank Stands Alone On 12-Month CDs

Doral Bank Direct offers the top nationally available 1-year CDs.Doral Bank Direct now stands alone with the top 12-month CDs on our CD Rates Leaderboard.

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, Doral Bank Direct (www.doralbankdirect.com) continues to pay the 1.15% APY with a $1,000 minimum deposit it began offering in mid-October.

Longtime co-leader KeySource Commercial Bank dropped nearly all of its rates on Friday, ushering in three new leaders on the CD rates Leaderboard.

CIT Bank Bank (www.bankoncit.com) also pays 1.08% APY with a $25,000 minimum deposit for its Achiever CD.

The online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, allows you to raise the rate once during the term if the CD rate goes up. You can also add to your deposit once.

CIT Bank’s standard 12-month CD pays 1.06% APY with a much lower $1,000 minimum deposit.

That 1.06% APY is also available at AloStar Bank of Commerce (www.alostarbank.com), an online bank based in Birmingham, Ala., with a $1,000 minimum deposit.

Three banks pay 1.05% APY:

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

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

MetLife (www.metlifebank.com), the insurance giant’s online bank which requires a $25,000 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term is 0.33%.

These 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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