Best 24-Month CD Rates Edge Lower

The banks are pretty much the same. But the returns are worse.

That’s the sorry story of our latest rankings of the best, nationally available 24-month CD rates.

In November our top-paying banks were offering 2-year certificates of deposit for 2.60% to 2.55% APY and you only needed a $1,000 minimum deposit to qualify for the top rate.

This month you’ll earn 2.50% to 2.30% APY and need a whopping $50,000 to qualify for the top rate.

Although that’s still twice as much as you can make with the typical 2-year CD, it’s not saying much. The average rate on these CDs plunged to a record low of 1.26% APY last week.

The best, nationally available deals on 24-month CDs are:

2.50% APY with a minimum deposit of $50,000 for “Silver CDs” from Frontier Bank, which has 50 branches in Washington and Oregon. You can also earn 2.45% with a $25,000 minimum deposit and 2.40% with a $500 minimum deposit.

2.40 APY with a minimum deposit of $1,000 from The Jacksonville Bank, with five locations in that Florida city.

2.40 APY with a minimum deposit of $1,000 from Atlantic Coast Bank, with 12 full-service branches in southeast Georgia and northeast Florida.

2.30 APY with a $5,000 minimum from Hudson City Bank with dozens of branches in New Jersey, New York and Connecticut. If you live near a Hudson City branch the minimum deposit is only $500.

Click here to compare these offers with the best CD rates from dozens of other banks in our database.

Related Posts:Frontier Alone At Top Of 2-Year CD RatesBest 24-Month CD Rates Jump to 2.60%Best 24-Month CD Rates Hold At 2.50%Hudson City Rockets Up CD Rate RankingsOne Bank Still Pays 3% On 3-Year CDs

Tennessee Bank Boosts 24-Month CD Rates

Tennessee Commerce Bank has increased the return on its 24-month CDs to 2.50% APY from 2.20% APY the past couple of weeks.

Although it only has one office in Franklin, Tenn., the bank accepts out-of-state deposits, allows accounts to be opened online and imposes a modest $2,500 minimum deposit.

We’ve written about Tennessee Commerce before and don’t recall any negative comments about its service.

The increase puts Tennessee Commerce near the top of our rankings for the best, nationally-available 24-month CD rates.

Only one bank has a better deal: Frontier Bank, which has more than 40 branches in Washington and Oregon, is paying 2.60% APY with a $500 minimum deposit, or 2.70% with a $50,000 minimum deposit.

That’s about a point higher than the national average for 24-month CDs.

You can use our extensive database of CD rates to compare these offers with the best deals from scores of banks.

Related Posts:11-Month CD Special Offers 2.78% APYBest Savings Accounts Up To 2.50% APYTwo Banks Offer Top 30-Month CD RatesTennessee Commerce 3.27% 36-Month CDTop 36-Month CD Rates Remain Above 3%