bank rates

Top 24-Month CD Rates Edge Down Again

New year. Same old story.

In November the best nationally available 24-month CDs paid 2.60% APY.

New year. Same old story.  In November the best nationally available 24-month CDs paid 2.60% APY

In December the top rate was 2.50%.

Now it’s 2.40% APY.

Banks have picked up right where they left off in 2009, repeatedly cutting the returns on certificates of deposit.

The average rate for 2-year CDs fell to 1.20% APY in last week’s survey of major banks. That’s the lowest average since Bankrate began tracking those rates in March 1989.

The best deals are:

2.40 APY with a minimum deposit of $1,000 from The Jacksonville Bank, which has five locations in north Florida.

2.40 APY with a minimum deposit of $1,000 from Atlantic Coast Bank, which has 12 branches in southeast Georgia and northeast Florida.

2.30 APY with a $5,000 minimum deposit from Hudson City Bank which has dozens of branches in New Jersey, New York and Connecticut. (If you live near a Hudson City branch the minimum deposit is only $500.)

2.21 APY with a $3,000 minimum from, the online arm of NewDominion Bank, headquartered in Charlotte, N.C.

Click here to compare these offers with the best CD rates from dozens of other banks in our database.

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Comments (3)
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3 Existing Comments
  1. DealMaven said:
    on January 26th at 11:25 am

    This morning Atlantic Coast Bank lowered its rate on the 24-month CD to 2.30% from 2.40% APY. It still holds a spot in the rankings of the top three rates. It’s just not on top anymore.

  2. Thomas Weeks said:
    on January 27th at 04:01 pm

    Wow.. So are people just holding onto their savings until the rates pull back up? What are the leading indicators of a return to normalcy?


  3. Daniel Hahn said:
    on January 28th at 01:06 pm

    Don’t hold on to it. Just put the liquid cash where it easily accessible. Even you wrap the cash in a 1 month CD that is doing horrible. That way you can always access the cash in a few weeks and it is at least earning you some sort of interest. However savings accounts do pay more at some instatutions. Something to ponder over.