bank rates

Best 2 Year CD Rates

24-month CDs

The best nationally available 2-year CD is paying 1.85% APY, up slightly from what it was last month.

Indeed, CD rates are on the rise. And 2-years are something to keep an eye on.

You can pick up 1.85% APY from two different banks — Popular Direct and First Internet Bank.

The main difference between the two is the minimum deposit amount. Popular Direct is charging a $10,000 minimum while First Internet Bank of Indiana is charging $1,000.

Overall, we have 14 banks are offering deals of 1.50% APY or better.

Of course, there are still some local banks and credit unions offering better deals.

That makes it even more important to shop around thoroughly for the best CD rates.
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Synchrony Bank CDs Are Worth A Look

Woman holding up a piggy bank with money coming out of it.We’ve been chatting a lot about Synchrony Bank lately. That’s because the bank keeps offering great deals.

While it’s not the leader on any single term, it’s in the top three on nearly every term.

It’s now offering 1.95% APY on a 5-year CD with a minimum deposit of $2,000, or 2.35% APY for a minimum deposit of $25,000. The national average 5-year CD pays just 0.97% APY.

On 4-year CDs, it’s offering 1.95% APY with a minimum deposit of $2,000.
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KS StateBank Pays Top Deals On Jumbo CDs Nationwide

Don’t let the Kansas name fool you – KS StateBank‘s certificates of deposit are available nationwide.

And it’s offering top rates on jumbo CDs.

It’s currently paying 2.25% APY on a 5-year jumbo. All of its jumbo CDs are paying 1.55% APY or above.

When the Manhattan, Kansas-based bank implemented an online account opening system more than two years ago, it extended the availability of several deposit products to savers nationwide.

But it wasn’t until just a year ago that it offered any rates worth mentioning.

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Granite CU Offers Tough-To-Beat Deals in Utah

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For savers in Salt Lake County, some of the best yields come from Granite Credit Union.

It’s paying 2.50% for a 5-year term, which is well above the top nationally available 5-year return of 0.91% APY.

Granite is also offering a promo rate on 30-month CDs — 1.80% APY. That’s better than you’ll find out of the top 2-year CD rate, 1.65% APY. And it’s nearly as good as the top 3-year CD rate, 1.90% APY.

Of course, it’s always wise to check Bankrate’s extensive database of the day’s best CD rates before locking in any certificate.

But if you’re in Salt Lake County, Granite is certainly offering some of the best deals around.

Here’s what the Granite Credit Union is paying on CDs:

 

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Check Out Navy Federal Credit Union’s 12-Month CD Special

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Navy Federal Credit Union is currently offering a 12-month CD special that’s certainly worth checking out. It’s a bonafide winner for military-affiliated savers across the country, as well as their families.

Navy Fed is currently paying 3.00% APY on special 12-month certificates, with a minimum $50 deposit.

Compare that with the 1.56% APY you can earn from the top nationally available 1-year certificate or the 5-year term it takes to earn 2.35% APY.

The one catch is that this certificate has a maximum investment of $3,000.

Membership in Navy Fed is open to savers who are affiliated in any way with the Armed Forces, the U.S. Department of Defense or the National Guard. This includes regular active duty and reservists in the Army, Navy, Air Force, Marine Corps and Coast Guard, as well as Army and Air National Guard personnel.
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CIT Bank Savings Account: Bookmark This Deal

CIT Bank savings

If you’re in the market for a savings account, this is a deal you’ll want to bookmark. CIT Bank’s new savings offer is tough to beat.

It’s paying 1.30% APY with a $100 minimum on balances up to $100,000. And when you open an account, you’ll get a $100 bonus.

The only savings deal that currently beats that is from Live Oak Bank, which is offering 1.35% APY with no minimum.

Indeed, banks are starting to compete for the best rates, and that’s great news for savers.

You can check out our monthly roundup of the best savings accounts for more options and opportunities.

With the national average savings account rate at a dismal 0.09%, this deal from CIT Bank is certainly better-than-average.

RATE SEARCH: Compare the best savings account rates.

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Connexus Credit Union Offers National Deals Worth A Look

It might not be a national bank, but Connexus Credit Union is so easy to join it might as well be.

By making a one-time $5 donation to Connexus’ charitable association, anyone nationwide can become a member of the Wisconsin credit union, and now is as good a time as any given its current crop of CD specials.

CD deals worth a look from Connexus Credit Union

With a $5,000 minimum deposit, Connexus is paying 1.50% APY on 12-month certificates, 1.70% APY on 24-month CDs, 2.00% APY on 36-month CDs and 2.00% APY on 60-month CDs.

And while all of the rates its offering are solid deals, Connexus stands out in the 3-year CD category. Indeed, the only other bank paying 2.00% APY on 3-year CDs is Salem Five.

Connexus requires a $5,000 minimum to earn that rate while Salem Five requires a $10,000 minimum.

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ableBanking Is Offering A Great Money Market Account Rate

Six one-hundred dollar bills and a green backgroundableBanking is offering one of the best money market account deals in the nation right now.

It recently increased its rate to 1.30% APY.

That beats out BankDirect, Sallie Mae and My Banking Direct — three other banks leading the charge on money market accounts.

But those banks are only offering 1.16% APY, 1.15% APY and 1.15% APY, respectively.

There’s a $250 initial deposit to open the ableBanking account and a $250,000 maximum, but there’s no minimum or maximum balance to maintain the account. There’s also no monthly maintenance fee.

While ableBanking is currently offering one of the best nationally available deals, it’s still important to comparison shop.

Before you decide to open an account, make sure to check out the nation’s leading money market account rates.

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Check Out Ally’s 11-Month No-Penalty CD

Ally Bank recently bumped up rates on its 11-month, no-penalty CD. And it’s certainly worth a look.

Undeniably, it’s one of the better nationally-available deals we’ve seen out there lately. It competes nicely with the top 12-month CDs.

Ally offers three different tiers for this particular CD. At the top tier, you can earn 1.35% APY with a $25,000 minimum.

But if you’re interested in earning 1.35% APY on an 11-month from Ally, you might want to purchase sooner than later. Though Ally will offer deals like this one occasionally, they tend not to last for very long.

Of course, it’s always best to compare the top CD rates before you decide on a CD.

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University Of Iowa CU Is Offering A Slam Dunk On 16-Month CDs

Once again, University of Iowa Community Credit Union is offering a top CD to savers in Iowa and Illinois and those affiliated with the university.

The latest promotion from Iowa’s largest credit union is a 16-month certificate paying 1.50% APY with a $1,000 minimum.

The deal gets even sweeter for savers who can pony up more, with deposits of at least $100,000 earning 1.60% APY and $250,000 or more 1.70% APY. In addition, any Hawkeye alumni, staff or students can become members.

Searching through Bankrate’s extensive database of the day’s best CD rates will show how hard this rate is to beat. Click here to read more

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BankPurely’s Savings Account: Good For Your Wallet And The Environment

It’s a good time to be in the market for a new online savings account. Rates are rising, and institutions like BankPurely are making savings accounts more attractive.

BankPurely is offering 1.30% APY on its SavingPurely bank account. And when you open an account, the bank will plant a tree.

With the national average savings account rate at 0.71%, this deal from BankPurely is hard to beat.

RATE SEARCH: Compare the best savings account rates.

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Several Big Banks Offer Sweet Checking Bonuses Of $200 Or More

Checking account

As big banks lose their allure with consumers, some are fighting back by offering new customers generous bonuses for opening a checking account.

Millennials in particular are fed up with the high fees and poor customer loyalty programs associated with big banks.

In fact, 16% have ditched big banks, a survey by Accenture found. Credit unions and community banks cashed in, with community banks gaining 5% more customers between the ages of 18 and 34, while credit unions gained 3%.

It no doubt doesn’t help that only 37% of financial institutions surveyed by Bankrate in 2015 still offer free checking accounts. Most banks now have requirements, such as keeping a minimum amount in a checking account or receiving a certain amount in direct deposits each month, in order to have monthly maintenance fees waived.

The Bankrate survey found the average monthly maintenance fee is now nearly $6, and the most common fee is $12 a month.

But some of the big banks are sweetening the pot by offering checking account bonuses of $200 or more for new account holders.

RATE SEARCH: Find the best checking account rates.

Here are a few of the current checking account offers:

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Here’s Where To Find The Cheapest Early Withdrawal Penalties

With the Federal Reserve raising rates, savvy savers will want to consider CD exit strategies with new gravitas.

The smartest savers will be looking to secure the highest possible yield on certificates of deposit from banks and credit unions that charge a relatively small early-withdrawal penalty, making it cheap to cash out and move on if future rates far outstrip current returns.

To help you make the right choices, we’ve taken a careful look at the early-withdrawal penalties imposed by the top-paying national banks on long-term CDs, as well as what to expect from credit unions and community banks that offer the best long-term rates.

You may be surprised by the significant difference between the penalties at Ally and Salem Five – the most lenient and strictest banks we found.

There’s even a quick-and-dirty calculation that can help you figure out the approximate APY for any CD cashed in early, once you know its early-withdrawal penalty. Click here to read more

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Take Home 1.27% On 11-Month CDs In The Great Lakes State

Community Choice Credit Union is offering millions of Michigan savers on both sides of the state, as well as employees and retirees of some large Michigan companies, a chance to earn a top rate.

The credit union is paying 1.65% APY on 23-month certificates, competing nicely with the best nationally available 24-month yield of 1.60% APY.

Take a look through Bankrate’s extensive database of the day’s best CD rates, and you’ll see how hard it is to outearn that yield in under two years.

Membership in Community Choice is open to savers who live or work in nine counties surrounding Detroit and three counties around Grand Rapids.

Community Choice’s membership net is cast even wider to include any employee or retiree of General Motors, AmTrak, Kelly Services or Conrail. Click here to read more

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Popular Direct Offers Eye-Catching CD Rates

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Popular Direct is offering some very competitive CD rates right now.

Entering the scene last year, it offers a menu of CDs and a simple savings account.

Popular Direct is the newer offspring of Banco Popular North America, which is the U.S. subsidiary of Puerto Rican bank Popular Inc.

Popular Inc.’s bricks-and-mortar U.S. presence is Popular Community Bank, which operates almost 50 branches in New York, New Jersey and south Florida.

If that rings any bells, it’s because Banco Popular also owns E-Loan, and we wrote about both of them extensively in the summer of 2015 when E-Loan dramatically raised its rates at the same time that Puerto Rico defaulted on its debt (the two events were unrelated, as you can read here).

Popular Direct is currently offering CD rates on a range of terms that beat out the top banks in our national CD rankings. Click here to read more

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