bank rates

Top 5-Year CD Rates Fall Below 3% Again

This is turning out to be a crummy week for our CD Rates Leaderboard.

On Monday, Salem Five Savings Bank cut what had been the top return on 24-month CDs.

Now Kaiser Federal Bank has cut the top return on 60-month certificates of deposit.

Reducing its rate from 3.00% APY to 2.75% APY drops Kaiser from first to third in our rankings of the best 24-month CD rates.

The new top dog is a familiar face – Melrose Credit Union in New York.

It has paid 2.93% APY on 5-year CDs since November and now offers the best deal on the three longest-term CDs we track.

Here’s where to find all of the best nationally available CD rates:

TERM BANK RATE MIN. DEPOSIT
3-Month CDs California First 0.80% APY $5,000
6-Month CDs Metropolitan National 1.15% APY $1,000
12-Month CDs Incrediblebank 1.45% APY $10,000
24-Month CDs Melrose Credit Union 1.66% APY $5,000
36-Month CDs Melrose Credit Union 2.17% APY $5,000
60-Month CDs Melrose Credit Union 2.93% APY $5,000


Banks and credit unions qualify for our rankings by selling their certificates of deposit online or through the mail to savers nationwide.

Melrose is one of the few credit unions eligible for 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.)

The banks on today’s Leaderboard are:

  • California First National Bank, an online bank based in Irvine, Calif.
  • Metropolitan National Bank, which has three branches in Manhattan and one in Brooklyn, N.Y.
  • Incrediblebank, the online division of River Valley Bank, based in Wausau, Wis.

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

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