bank rates

Reap 2.5% Returns With Best 2-Year CDs

Tennessee Commerce Bank grabbed the top spot in our September rankings of the best 24-month CD rates.

Tennessee Commerce Bank grabbed top spot in our September rankings of the best 24-month CD rates. Its mid-August rate hike to a 2.50% APY makes it the best-paying, nationally-available 24-month certificate of deposit we can find.

As recently as July you could still find at least one bank paying 3% on 2-year CDs. But that’s no longer the case, with the national average for these investments dropping to a near-record low 1.47% APY last week.

The top deals currently available to all savers are:

2.50% APY with a $2,500 minimum deposit from Tennessee Commerce Bank, which has a single location in Franklin.

2.50% APY with a minimum deposit of $50,000 or 2.40% APY with a minimum deposit of $500 for “Silver CDs” from Frontier Bank, which has 50 branches in Washington and Oregon.

2.43% APY with a minimum deposit of $2,500 or 2.48% APY with a minimum deposit of $25,000 from Wedbush Bank, which has one branch in Los Angeles.

2.40% APY with a minimum deposit of $5,000 from OneWest Bank, with 33 branches in Los Angeles area.

Frontier led our August rankings with slightly higher returns — 2.70% APY with a $50,000 minimum deposit and 2.60% APY with a $500 minimum deposit.

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

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Comments (2)
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  1. Kenn Bartley said:
    on September 11th at 10:30 am

    Pacific West Bank’s current 24 month CD rate, min. deposit of $1000, is 2.5%. Rate will expire on 9/20/09. Go to http://www.bankpacificwest.com for more rates and check in often for specials.

  2. Monica Knott said:
    on November 6th at 11:43 am

    I just talked to this bank. You would need to see them in person in order to get that good deal for the 13 months CD