bank rates

Top 60-Month CD Rates Hold Mostly Steady

State Bank of India holds the top rate.There’s been a slight increase in 60-month CD rates over the past month.

And when we say slight, we’re talking one-one hundredth of a percentage point.

But, given the state of CDs these days, a win is a win. Right? Right.

The top rate for this term on our CD Rates Leaderboard has “risen” to 1.86% APY.

That offering is from the New York branch of the State Bank of India (, India’s largest bank, which has FDIC-insured branches in California, Chicago and New York. It requires a $5,000 minimum deposit.

CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle market companies, continues to pay the former lead rate of 1.85% APY with a $1,000 deposit.

Four banks pay 1.75% APY:

AmTrust Direct, which is the online division of Cleveland-based AmTrust Bank (, a division of New York Community Bank, and requires a $500 minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company and requires a $2,500 minimum deposit.

MyBankingDirect (, which is the online bank of New York Community Bank and requires a $500 minimum deposit.
Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, and requires a $500 minimum deposit.

Two banks pay 1.70% APY:

Barclays (, which is the online American operation of the big British bank and has no minimum balance requirement.

E-Loan (, which is the subsidiary of Banco Popular North America and requires a $10,000 minimum deposit.

These banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

The average annual yield large big banks and thrifts are offering for the 60-month term this week is a record low 0.98%.

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

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