We have to post an update to the best CD rates leaderboard because of some major changes. Melrose Credit Union decided to lower their rates yesterday by about a tenth of a point across the board and since they owned the top spots for four major CD terms, we decided to post a mid-week update.
Now that Melrose lowered their rates, this has caused some major shake ups to our leaderboard, with other banks and financial institutions closely behind or over taking Melrose on some CD terms.
The New York based credit union still sits at the top of the 36-month and 60-month CD rates and ties for the lead of the 12-month term.
Sanibel Captiva Community Bank out of Florida and Bank of Internet from San Diego California still hold onto their spots of the 3-month and 6-month CDs.
Here is the updated rate table for the best CD rates in the nation:
|*Term||Bank||December 1||November 29|
|3 Month CD||Sanibel Captiva||0.95% APY||0.95% APY|
|6 Month CD||Bank of Internet||1.15% APY||1.15% APY|
|12 Month CD||Melrose Credit Union|
Bank of Internet
|1.41% APY||1.51% APY|
|24 Month CD||Bank of Internet||1.72% APY||1.76% APY|
|36 Month CD||Melrose Credit Union||2.17% APY||2.27% APY|
|60 Month CD||Melrose Credit Union||2.93% APY||3.03% APY|
All of these financial institutions allow anyone nationwide the ability to open and invest into their certificates of deposit, either through the mail or online. Most credit unions have strict requirements that drastically reduce who can qualify for their CD products, but Melrose is an open-ended Credit Union, allowing anyone, anywhere to register for a $1 fee.
Be sure to check out the most up to date CD rates from our CD rate boards. These rates can be out dated and as with any certificate of deposit, these rates can change at any time.