bank rates

Top Return On 6-Month CDs Falls To 1.25%

There have been some big changes in our rankings of the best 6-month CD rates over the past week.

New Dominion Bank is our new leader in 6-month CD rates.New Dominion Bank, which has branches in Charlotte and Mooresville, N.C., is the new leader.

It’s paying 1.25% APY with a minimum deposit of $3,000.

Although this rate won’t make you rich, it is more than three time the national average of 0.38% APY – another new record low.

The next best rates on nationally available 6-month certificates of deposit are:

1.22% APY with a minimum deposit of $1,000 from Aurora Bank, with one branch in Wilmington, Del. and another in Jersey City, N.J.

1.21% APY with a minimum deposit of $1,000 from Shore Bank, with seven branches in Chicago, one in Detroit and another in Cleveland.

1.17% APY with a minimum deposit of $500 from Ascencia, an online division of PBI Bank, headquartered in Louisville, Ky.

Click here to compare those returns with the best CD rates from scores of other banks.

Our rankings got shuffled after we decided to drop Fort Knox Federal Credit Union from all of our rankings.

It continues to pay 1.40% APY on 6-month CDs, but the $15 membership fee can significantly reduce the actual return, especially on short-term CDs like this.

Then First City Bank decided to limit new accounts to customers who live in the three counties around Fort Walton Beach, Fla.

Although it continues to pay 1.25% APY, those CDs are no longer available nationwide.

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