Top 24-Month CD Rates Pay 1.66%

Posted in CD Rates by Darci Smith
April 3, 2011 12:00 PM - 0 Comments

One by one, Melrose Credit Union lost its top spots across much of the CD Rates Leaderboard earlier this year.

And now, it has regained them, one by one. The 24-month term is no exception.

Melrose Credit Union, which has a single office in New York City, leads again with its long-standing rate of 1.66% APYwith a $5,000 minimum deposit.

All of the best 24-month rates pay higher yields than the 0.72% APY that large banks and thrifts are currently offering.

The next best nationally available 24-month rates are:

1.55% APY at MetLife Bank, the insurance giant’s online bank, which requires a $25,000 minimum deposit.

1.52% APY at Aurora Bank, which has branches in Wilmington, Del., and Jersey City, N.J., and requires a $1,000 minimum deposit.

1.51% APY at Goldwater Bank, which has a single location in Scottsdale, Ariz., and requires a $5,000 minimum deposit.

1.50% APY at Salem Five Bank. The former leader in this term, the Massachusetts-based bank is now one of six banks at the bottom of this term, paying 1.50% APY. It requires a $10,000 minimum deposit.

These banks and credit unions 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.