There isn’t much to report for this week as we come out of a long holiday weekend. We expect rates to continue their downward slide and could see a shake up in the rates we track sometime this week. It might be wise to lock in some of these CD rates if you are sitting their wondering if rates will increase or decrease. Your best bet in this economy is to lock in short term rates before they fall even further.
Melrose Credit Union still holds most of the top CD rates we track. We expect Melrose to lower their rates across the board this week, that’s if they keep with their cycle of cutting rates every 3 months. Their 3 month mark since the last rate cut is this week.
Here are the best CD rates currently available nationally
|*Term||Bank||November 29||Last Week|
|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||1.51% APY||1.51% APY|
|24 Month CD||Melrose Credit Union||1.76% APY||1.76% APY|
|36 Month CD||Melrose Credit Union||2.27% APY||2.27% APY|
|60 Month CD||Melrose Credit Union||3.03% APY||3.03% APY|
These banks and credit unions qualify for our listing because they offer their CDs to anyone nationwide. As with any investment, certificates of deposits can change at a moment’s notice, be sure to check our updated CD rates table for the most up to date information.
Melrose Credit Union is not your normal credit union as they allow anyone, anywhere to join. Most credit unions have strict requirements, but Melrose’s only requirement is a $1 fee and to hold $25 in a savings account.
We encourage you to visit Bankaholic’s post about their visit to Melrose’s New York office and why they can pay such high rates, while other major banks and financial institutions continue cutting their rates.