bank rates

Top Nationally Available 12-Month CDs Now Pay 1.30%

Looks like it’s Country Bank‘s turn to bow out of the spotlight and drop the national 12-month lead back to familiar, but unwelcome, territory.

The Massachusetts bank that began offering its CDs nationwide last year commanded top billing in early March with its 1-year yield of 1.36% APY.

This morning it lowered that rate to 0.60% APY, in turn dropping the 12-month lead on our CD Rates Leaderboard of nationally available bank offers to the next-best 1.30% APY.

The new top rate is familiar because, although we’ve seen the 1-year lead elevated to 1.35% or 1.36% four times in the last 13 months, it keeps sinking back to 1.30% APY.

Since that’s also where it stood before the Federal Reserve raised rates in December, I guess that means we’re back to a pre-Fed square one in this term.

The new 12-month national leader is Colorado Federal Savings Bank. The online bank requires a minimum $5,000 deposit on its certificates.

For its part, Country Bank replaced its 1.36% 12-month offer with a new promotion: 1.00% APY on 6-month CDs, which is enough to land it in a tie for third place in that term.

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