bank rates

Banks Bunched At Top Of 2-Year CD Rates

The turmoil in our rankings of the best 24-month CD rates continues, with three different leaders in the past week.

The Bank of Internet, an online bank based in San Diego, now holds the top spot by offering 1.79% APY with a $1,000 minimum deposit.

A mere four-hundredths of a percentage point separates their rates.But right now you can throw a blanket – a baby blanket at that – over the top 10 banks.

A mere four-hundredths of a percentage point separates their rates.

In dollars-and-cents terms, the difference in what you’ll earn with these banks works out to less than a dollar over the course of the full two years.

So it’s a real toss-up between Bank of Internet and Melrose Credit Union, which is paying 1.76% APY with a minimum deposit of $5,000, and these banks that are offering 1.75% APY:

Acacia Federal Savings Bank, a subsidiary of the Acacia Life Insurance Company, Falls Church, Va., with a minimum deposit of $500.

American Express Bank, owned by the credit card company, with no minimum deposit required.

Colorado Federal Savings, an online bank located in Greenwood Village, Co., with a minimum deposit of $5,000.

Discover Bank, the online bank owned by the credit card company, with a minimum deposit of $2,500.

iGObanking, the online division of Flushing Savings Bank in New York, with a minimum deposit of $1,000.

H&R Block Bank, owned by the tax preparation company, with a minimum deposit of $250.

Nationwide Bank, a subsidiary of Nationwide Mutual Insurance Company, with a minimum deposit of $500.

We include New York-based Melrose Credit Union in our rankings because its unusual open charter allows all U.S. residents to join for $1, and buy certificates of deposit, no matter where they live or work.

All of these banks allow savers to buy CDs online, regardless of where they live.

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

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