New year. Same old story.
In November the best nationally available 24-month CDs paid 2.60% APY.
In December the top rate was 2.50%.
Now it’s 2.40% APY.
Banks have picked up right where they left off in 2009, repeatedly cutting the returns on certificates of deposit.
The average rate for 2-year CDs fell to 1.20% APY in last week’s survey of major banks. That’s the lowest average since Bankrate began tracking those rates in March 1989.
The best deals are:
2.40 APY with a minimum deposit of $1,000 from The Jacksonville Bank, which has five locations in north Florida.
2.40 APY with a minimum deposit of $1,000 from Atlantic Coast Bank, which has 12 branches in southeast Georgia and northeast Florida.
2.30 APY with a $5,000 minimum deposit from Hudson City Bank which has dozens of branches in New Jersey, New York and Connecticut. (If you live near a Hudson City branch the minimum deposit is only $500.)
2.21 APY with a $3,000 minimum from newdominionDIRECT.com, the online arm of NewDominion Bank, headquartered in Charlotte, N.C.
Click here to compare these offers with the best CD rates from dozens of other banks in our database.
In November the best nationally available 24-month CDs paid 2.60% APY.
In December the top rate was 2.50%.
Now it’s 2.40% APY.
Banks have picked up right where they left off in 2009, repeatedly cutting the returns on certificates of deposit.
The average rate for 2-year CDs fell to 1.20% APY in last week’s survey of major banks. That’s the lowest average since Bankrate began tracking those rates in March 1989.
The best deals are:
2.40 APY with a minimum deposit of $1,000 from The Jacksonville Bank, which has five locations in north Florida.
2.40 APY with a minimum deposit of $1,000 from Atlantic Coast Bank, which has 12 branches in southeast Georgia and northeast Florida.
2.30 APY with a $5,000 minimum deposit from Hudson City Bank which has dozens of branches in New Jersey, New York and Connecticut. (If you live near a Hudson City branch the minimum deposit is only $500.)
2.21 APY with a $3,000 minimum from newdominionDIRECT.com, the online arm of NewDominion Bank, headquartered in Charlotte, N.C.
Click here to compare these offers with the best CD rates from dozens of other banks in our database.
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