bank rates

Two Banks Tied For Top 2-Year CD Rates

The top rate you'll earn is 1.26% APY.The most you’ll earn on nationally available 24-month CD rates is just 1.26% APY.

That’s a bit less than you could have earned earlier this month before American Express Bank slashed its rates.

Both CIT Bank and Broadway Federal Bank are paying that rate and co-leading the term on our CD Rates Leaderboard.

Broadway Federal Bank (, which has five branches in Los Angeles and Inglewood, Calif., requires a $500 minimum deposit to earn its 1.26% APY.

But just as in the 12-month term, the rate from CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, is more attractive.

It offers an Achiever CD, which allows you to add money to your account and bump up the rate once during the term, with a $25,000 minimum deposit.

Something else to consider: We noted in a post about the safety of CD rates earlier this month that CIT Bank holds a four-star rating from, while Broadway Federal Bank holds a one-star rating.

KeySource Commercial Bank ( offers the second-highest rate of 1.25% APY. It has a single branch in Durham, N.C., and requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit for CDs purchased online.

(CIT Bank also has a standard, no-bells-and-whistles 24-month CD that pays 1.25% APY and requires a $1,000 minimum deposit.)

Virtual Bank (, which is the online division of Miami-based Sabadell United Bank, pays 1.21% APY and requires a $10,000 minimum deposit.

Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Company and its affiliates, pays 1.20% APY and requires a $500 minimum deposit.

The average annual yield that large banks and thrifts pay for this term remains 0.53% APY this 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.

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

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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on March 19th at 08:49 am

    CIT Bank has dropped its rate slightly to 1.25% APY. The other rates are all still available.

  2. Kathy at Bankaholic said:
    on April 3rd at 08:26 am

    Only Broadway Federal’s and KeySource Commercial’s rates are still available.