bank rates

When Have 6-Month CDs Paid Less?

Hand pressing buttons on a calculatorTrue or false: The top nationally available 6-month CD pays less today than it did a year ago.

Answer: False.

Nonetheless, rates have been falling throughout 2013.

In fact, the last time 6-month certificates paid less than today was last summer, after which the top rate began climbing … until it started falling again.

For the fifth time in the last eight months, the top 6-month CD rate has fallen, this time by just one one-hundredth of a percentage point.

Chart showing average and top nationally available 6-month CD rates

Doral Bank Direct ( continues to lead the term on our CD Rates Leaderboard but has dropped its rate slightly to 0.88% APY.

The online bank of Doral Bank, which is the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, requires a $500 minimum deposit.

Three banks pay 0.75% APY:

Colorado Federal Savings Bank (, which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company, requires a $2,500 minimum deposit.

Presidential Bank (, which has two branches in Maryland, six in Virginia and one in Washington, D.C., requires a $1,000 minimum deposit.

One bank pays 0.70% APY:

Atlantic Coast Bank (, which has 11 branches in northeast Florida and southeast Georgia, requires a $1,000 minimum deposit.

Large banks and thrifts offer a record-low annual average yield of 0.16% for 6-month CDs.

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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