bank rates

Top 5-Year CDs Back Above 2%

Hand dropping a coin into a white piggy bankIn January, the top nationally available 5-year CD rate got a boost.

A big boost by today’s standards – a quarter of a percentage point, to be exact.

The lead rate is now 2.05% APY, the highest it’s been in more than a year. ( made its debut on our CD Rates Leaderboard with that rate on Jan. 8.

The online division of Florida-based Citizens State Bank requires a $1,000 minimum deposit.

The second-highest rate of 1.95% APY is thanks to a newcomer, too.

Texas-based Green Bank (, which is an eco-friendly bank with 12 locations in Texas, pays 1.95% APY with a $1,000 minimum deposit.

Barclays (, which is the online American operation of the big British bank, is offering the third-highest rate of 1.85% APY and has no minimum balance requirement.

In fourth is the former lead rate of 1.80% APY. That’s still being offered by CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies and requires a $1,000 deposit.

AmTrust Direct ( and MyBankingDirect (, online divisions New York Community Bank, pay 1.75% APY and require a $500 minimum deposit.

Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Co. and its affiliates, pays 1.71% APY and requires a $500 minimum deposit.

The average annual yield large big banks and thrifts are offering for the 60-month term remains a record-low 0.87% for the second 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.

You can compare these returns with the best CD rates from scores of banks in our extensive database.

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