bank rates

Top 12-Month CD Rate Is Stuck

Large percentage signThe top 12-month CD rates have remained unchanged for three months now.

The banks offering the deal have changed during that time, but the top rate on our CD Rates Leaderboard has remained stuck at 1.05% APY.

Two banks offer that deal:

GE Capital Retail Bank (, an online bank which is a subsidiary of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $25,000 minimum deposit.

The FDIC-insured Chicago branch of State Bank of India, India’s largest bank, which operates independently of other U.S. branches, requires a $2,500 minimum deposit.

Chart showing the best and average 12-month cds

Two banks also pay 1.00% APY:

Salem Five Direct (, the online division of Salem Five Bank, which has 23 branches just north of Boston, requires a $10,000 minimum deposit.

CIT Bank (, the online consumer bank of CIT Group Inc. which finances small businesses and middle-market companies, offers an Achiever CD, which allows you to raise the rate once during the term, as well as add to your deposit once, with a $25,000 minimum deposit.

Doral Bank Direct (, the online bank of Doral Bank, which is the leading community bank in Puerto Rico and also has five branches in northwest Florida and two in New York City, pays 0.96% APY and requires a $500 minimum deposit.

Four banks pay 0.95% APY:

Colorado Federal Savings Bank (, which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

EH National Bank (, which has a single branch in Beverly Hills, Calif., requires a $10,000 minimum deposit.

OneWest Bank (, which has 73 branches in Southern California, requires a $1,000 minimum deposit.

The New York branch of the State Bank of India (, India’s largest bank, which operates independently of other U.S. branches, requires a $5,000 minimum deposit.

The current average annual yield offered by big banks and thrifts for the 12-month term remains a record-low 0.24% 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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