bank rates

Sovereign Moves Up In 5-Year CD Rates

Sovereign Bank has moved way up in our rankings of the best 5-year CD rates.

The east coast bank is paying 3.15% with a minimum deposit of only $500.The east coast bank owned by Spanish financial giant Santander is now paying 3.15% APY on 60-month certificates of deposit with a minimum deposit of only $500.

That becomes the second-best nationally available return, right behind the 3.29% APY offered by Melrose Credit Union.

How you buy a Sovereign CD depends on where you live.

Residents of the eight states where Sovereign has more than 700 branches — Rhode Island, Pennsylvania, Connecticut, Maryland, Massachusetts, New Hampshire, New York and New Jersey — can apply online.

If you live outside of those states, you must call a personal banker at 877-768-2265 to set up your account.

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

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Comments (2)
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2 Existing Comments
  1. Jen Stryker said:
    on July 9th at 02:52 pm

    Social shopping sitesSocial shopping sites have been characterized as a Facebook for people with a compulsion to shop and share.They allow users to tell the world what they’ve bought, where they got it and how much they paid for it. We think that’s a bad idea for all sorts of reasons. But a recent post on the Personal Finance blog focuses on two reasons that are clearly hazardous to your financial health.

  2. DealMaven said:
    on July 12th at 08:31 am

    Sovereign’s deal on the 5-year CD was good while it lasted. It just didn’t last very long. Over the weekend the bank slashed the 3.15% APY it was paying to 2.50% APY. That’s a good rate for a 36-month CD, but on a 60-month CD, it drops it way down in the rankings.