bank rates

Top 2-Year Rate Is The Best Deal On CDs

If you’re looking for the best nationally available deal on a CD, you have to go to iGObanking.

For almost two weeks now it’s been paying 2.25% APY on 24-month CDs, with a $1,000 minimum deposit.iGObanking has the best 2-year CD rate, paying 2.25% APY.

That’s half a point more than the next best 2-year CD rates, and it’s almost as much as you can earn with the best 3-year CD rates. (Take a look at our most recent CD Rates Leaderboard and you’ll see what we mean.)

But if you’ve got the money to invest, now is the time to take advantage of this eye-catching special from the online division of Flushing Savings Bank, which has 15 New York area branches. This deal is such an outlier we can’t believe it will last very long.

The next best nationally available rates on 24-month certificates of deposit are:

1.76% APY with a $5,000 minimum deposit from Melrose Credit Union, which has a single location in Queens, N.Y.

1.75% APY with a $1,000 minimum deposit from Presidential Bank, which has two branches in Maryland, six in Virginia and one in Washington D.C.

1.72% APY with a $1,000 minimum deposit from Bank of Internet, based in San Diego, Calif.

These banks and credit unions qualify for our rankings by imposing no restrictions on who can buy their CDs, and all take applications over the Internet.

Melrose is one of the few credit unions in our rankings because its unique charter allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

See how these returns compare with CD rates from scores of other banks in our database.

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  1. CrankySaver said:
    on November 2nd at 02:19 pm

    Don’t miss any of the new posts on everything from the economy to the banking industry’s latest tricks over on our Personal Finance Blog. You can always reach it by clicking on the “Finance” tab at the top of every page.