bank rates

Top CD Rates, Ever So Briefly

The bank called it a computer glitch.

But we nearly fell out of our chairs this morning when we saw it.

There it was in thousands of shining pixels: CD rates at Bank of Internet USA beat the best nationally available deal in nearly all terms — by a long shot.

The rates were so good — and the increase so unusual — we had to check before posting something.

According to a customer services representative, this wasn’t a scheduled rate change, and rates were to be lowered as soon as the glitch was fixed.

But in the meantime, this San Diego-based online division of BofI Federal Bank planned to honor the rates as long as they were on the website.

Here’s what the bank offered:

  • 1.07% APY for 6-month CDs
  • 1.35% APY for 12-month CDs
  • 1.59% APY for 24-month CDs
  • 1.89% APY for 36-month CDs
  • 2.51% APY for 60-month CDs

Minutes after our phone call, the bank changed the rates.

We mention this episode to illustrate the importance on pouncing on anything that looks like a good deal right now. You just don’t know how long it can last.

We also should emphasize that even though Bank of Internet screwed up, it planned to honor the rates. In other words, buy first, ask questions later.

Because waiting comes at a price.

Here’s what Bank of Internet USA ( offers now:

  • 0.40% APY for 6-month CDs.
  • 0.75% APY for 12-month CDs.
  • 1.01% APY for 24-month CDs.
  • 1.15% APY for 36-month CDs.
  • 1.60% APY for 60-month CDs.

None of those rates comes close to what you’ll find on our CD Rates Leaderboard.

In fact, they’re the kind of low rates Bank of Internet has been offering since it last was competitive in summer 2011.

Only a glitch could make this bank’s CD rates briefly competitive.

Find the best CD rates from your area in our extensive database.

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Comments (2)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 3.80 out of 5)
2 Existing Comments
  1. Bob Johnson said:
    on February 3rd at 12:25 pm

    “Minutes after our phone call, the bank changed the rates.”

    When a deal seems too good to be true, NEVER call !
    Sign up for it immediately, then let them decide to honor it, or not.
    Calling just eliminates the chance of a great deal for everyone else.

  2. jayo taylo said:
    on February 13th at 05:50 pm

    this is the best site out there a great kept secret keep up the good work cathy