bank rates

Sole Leaders On 6- And 24-Month CDs After AloStar’s Rate Sheet Shake-Up

Seventeen days after AloStar Bank of Commerce added itself to the national lead for two different CD terms, it has backed off.

The online bank out of Birmingham, Alabama, retreated on Friday from a 6-month yield of 1.05% down to 1.01% APY and from a 24-month yield of 1.55% down to 1.48% APY.

Among nationally available 6-month certificates, this returns MySavingsDirect to stand-alone leader status among the banks on our CD Rates Leaderboard.

The online portal operated by New York’s Emigrant Bank has topped the 6-month chart at 1.05% APY for a full year now, with the exception of two weeks in February when Live Oak Bank briefly offered 1.10% APY.

In the 24-month term, iGObanking is the one to regain its solo crown on our Leaderboard. The online division of Flushing Bank in New York, iGObanking has offered 1.55% APY for one month so far.

Neither of these drop the top rate that savers can earn on 6- and 24-month certificates, but it does afford them fewer options.

A reduction of choice also occurred in the 12-month term. There, AloStar was not the leader or co-leader, but its runner-up yield sat an insignificant basis point below Country Bank‘s top rate of 1.36% APY.

AloStar’s rate sheet shake-up dropped that second-place return from 1.35% down to 1.27% APY, leaving savers with only Country Bank and Colorado Federal Savings Bank as options for earning more than 1.30% APY.

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