bank rates

Roller Coaster Ride For 2-Year CD Rates

The best nationally available deal pays 1.25% APY.Although we’ve had three leader changes in the 24-month term in the past couple of weeks, CD rates have managed to end up almost exactly where they started.

(Kudos to those of you who were able to take advantage of AloStar Bank of Commerce’s short-lived anniversary special of 1.40% APY.)

KeySource Commercial Bank ( now offers the top 24-month CD rate on our CD Rates Leaderboard with its 1.25% APY.

It has a single branch in Durham, N.C., and requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail and a $5,000 minimum deposit for CDs purchased online.

You’ll find a strong second-place rate from CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies.

That’s because CIT Bank’s 1.20% APY is for its Achiever CD, which allows you to add money to your account and bump up the rate once during the term with a $25,000 minimum deposit.

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., is now back to paying 1.19% APY with a $1,000 minimum deposit.

(CIT Bank also has a standard 24-month CD that pays 1.19% APY and requires a $1,000 minimum deposit.)

After dropping its CD rates across the board last week, Broadway Federal Bank (, which has five branches in Los Angeles and Inglewood, Calif., and requires a $500 minimum deposit, now pays 1.16% APY.

Metropolitan National Bank (, which has three branches in Manhattan and one in Brooklyn, also pays 1.16% APY and requires a $1,000 minimum deposit.

The average annual yield that large banks and thrifts pay is 0.53% this week.

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.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 4.00 out of 5)
One Existing Comment
  1. Kathy at Bankaholic said:
    on May 7th at 09:13 am

    You can still get these rates from CIT Bank and Broadway Federal Bank, but KeySource is now paying 1.10% APY; AloStar, 1.16% APY; and Metropolitan National Bank, 0.85% APY.