Three weeks ago, six banks were still paying 2.00% APY on 12-month CDs.
Now only two offer the best, nationally available return:
The Jacksonville Bank, which has five branches in northeast Florida, with a minimum deposit of $1,000.
Golf Savings Bank which has 37 branches in Washington, Oregon, Idaho and Montana, with a minimum deposit of $10,000.
What happened to the others?
ING Direct lowered its yield to 1.75% APY on Dec. 31.
Then Frontier Bank not only cut its rate to 1.95% APY, but also limited its best rates to residents of Washington and Oregon, where its branches are located. If you live elsewhere you’ll only earn 1.60% APY.
Frontier had also led our rankings of the best 24-month CD rates, but lowered its return on those CDs to 2.35% from 2.40% for local customers and 2.00% in the 48 other states.
Yesterday, H&R Block Bank chopped its rate to 1.50% APY.
And today Colorado Federal Savings Bank dropped its yield to 1.80%.
Click here to compare these rates with the best CD rates from dozens of other banks in our extensive database.
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