bank rates

Two Banks Vie For Best 5-Year CD Rates

You can still earn more than 3% on a 60-month certificate of deposit if you go to one of the top-paying banks.

You can still earn more than 3% on a 60-month certificate of deposit if you go to one of the top-paying banks.

Hudson City Bank and Acacia Federal Savings Bank are the current leaders, paying 3.15% APY.

That’s down from last month, when Acacia and iGo Banking led our rankings with a 3.25% return. But it’s far more than the 2.05% APY you’d get with the average 5-year CD.

Hudson City requires a $5,000 minimum deposit unless you buy the CD in person at one of its branches in New York, Connecticut and New Jersey. Then you only need $500.

Acacia Federal Savings, a subsidiary of the Acacia Life Insurance Company in Falls Church, Va., requires a $500 minimum deposit.

The next best nationally available 60-month CD rates are:

3.06% APY with a $1,500 minimum from EverBank, an online bank based in Jacksonville, Fla.

3.05% APY with no minimum deposit from Nationwide Bank, the online bank of Nationwide Insurance.

3.05% APY with a $2,500 minimum deposit from Tennessee Commerce Bank, which has a single location in Franklin, Tenn. Although the bank stopped posting rates online, you can call 877-684-2265 for the latest quotes.

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

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