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Yet Another Leader In 12-Month CD Rates

Posted in CD Rates by DealMaven
September 17, 2009 09:11 PM - 8 Comments

Our rankings of the best 12-month CD rates have its third new leader in less than a week.

The online bank owned by the Snoopy-loving insurance company is tops our rankings of the best 12-month CD rates.This time it’s MetLife Bank, which is now paying 2.25% APY on a 1-year certificate of deposit.

You won’t be able to take advantage of this special offer unless you have a significant amount of money to invest. The minimum deposit is $25,000.

But the rate is higher than the 2.15% APY being offered by our previous leader UmbrellaBank, an online subsidiary of New South Federal Savings.

While you only need $1,000 to buy an UmbrellaBank CD, we’ve never excluded a deal from our rankings of nationally-available CD rates because the minimum deposit was too high.

So thanks to alert reader Tinda for pointing this one out.

Metlife is an online bank owned by the Snoopy-lovin’ insurance company and it says this special rate — a quarter-point more than its regular 12-month CD rate — is available for a limited time.

Click here to compare this deal with the best CD rates from dozens of other banks in our extensive database.

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Comments (8)
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  1. Charlie said:
    on September 19th at 08:00 pm

    It seems to be down to 2% now, on 9/19 at 9PM ET.

  2. DealMaven said:
    on September 21st at 08:37 am

    The 2.25% is still available. If you click on “MetLife” at the top of the second paragraph it will take you right to the page where you can apply. In MetLife’s CD listing, the regular rate is 2.0%, but the 2.25% special is still available.

  3. Dianne Bowman said:
    on September 21st at 09:17 pm

    Hi – I just called MetLife today to roll over our cd for another year. I was told it was 2.00 and I see where it’s still 2.25 today. What’s up?

    Dianne Bowman

  4. BB said:
    on September 22nd at 10:58 am

    Dianne – I am in the same situation. The 2.25 is only for NEW money. It says so in the fine print that the money has to come from a source other than Metlifebank. Otherwise the 12 mos. rate is 2%.

  5. Renee said:
    on September 29th at 08:47 am

    Does Metlife have online banking? Can I access my CD info online?

  6. Paul said:
    on September 29th at 03:22 pm

    I have been callin Metlife Bank for teh last two days. I just wanted to know, how to open an account in the family trust name as the online application is only for individual or joint.
    Finally after holding for 15 minutes, the operator came on, saying that she can only take my phone # to have some obene call me. I senr them an e-mail, no response yet. I got frustrated and lookd for alternate. First Choice Bank in Cerritos CA has one year CD for 2.43%. I am very disappointed with Metlife. If this is the service befre I open an account. You can imagine what would it be after I am customer.

  7. DealMaven said:
    on September 29th at 04:29 pm

    We just called First Choice Bank of Cerritos and they said that the 12-month CD earns a 2.22% APY with a $2,500 minimum deposit. The 2.43% APY is available on a 24-month CD with a $5,000 minimum deposit.

    Those are good rates, but they’re only available if you can walk into the bank and apply in person.

    We generally limit our tips on good deposit rates to those that are available nationwide. But if you live in the Los Angeles County/Orange County area, go for it!

  8. Annoyed with Opening Process said:
    on October 2nd at 06:48 pm

    We have also been trying to open an account. After their website crashed several times, we were finally able, yesterday, to fill out their questionnaire. We then got an error message, and were told to call MetLife to complete the process. During the first call, my partner gave the rep the confirmation number and error code, and was transferred to someone who put her on hold for 30 minutes before hanging up on her. The second call ended when she was transferred to a message stating that the system was overloaded. I too am very disappointed in MetLife.

    I wondered why such a good rate stayed up for so long; now I know. It is almost impossible to open a CD there.

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