bank rates

Thrill Is Gone For 24-Month CDs

hand holding a roll of $100 billsNope, it’s not déjà vu – after a too-brief spike, 24-month CD rates have settled back in at 1.30% APY.

That’s where they started 2013.

NexBank ( has retaken the term’s helm on our CD Rates Leaderboard.

The division of NexBank Capital Inc., which has two branches in the Dallas area, requires a $10,000 minimum deposit.

Two banks pay 1.20% APY:

Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, requires a $500 minimum deposit.

CIT Bank (, the online consumer bank of CIT Group Inc., which finances small businesses and middle-market companies, requires a $25,000 minimum deposit for this Achiever CD, which allows you to add money to your account once, as well as bump up the rate once during the term.

(CIT Bank also has a standard 24-month CD that pays 1.15% APY with a minimum deposit of $1,000.)

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, pays 1.16% APY and requires a $10,000 minimum deposit.

GE Capital Retail Bank (, an online bank that is a subsidiary of GE Capital Corp., is paying 1.15% APY and requires a $15,000 minimum deposit.

Doral Bank Direct (, the online bank of Doral Bank, which is the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, is paying 1.11% APY and requires a $500 minimum deposit.

The average annual yield that large banks and thrifts pay is 0.41% for the fourth 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.

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