There’s been little excitement in 36-month CD rates since Quaint Oak Bank popped in and out of the top spot more than a month ago.
The current 36-month leader on our CD Rates Leaderboard?
Who else, but Melrose Credit Union.
The New York City-based credit union is back on top with its ever-steady 2.17% APY with a $5,000 minimum deposit. (Quaint Oak now offers 1.80% APY with a $500 minimum deposit, four-tenths of a percentage of a point less than its final leader rate.)
Tennessee Commerce Bank has been just behind Melrose since March 2. The bank, which has a single location in Franklin, Tenn., continues to pay 2.15% APY with a $2,500 minimum deposit.
Three banks are each offering 2.00% APY, and are tied for the third spot:
- Country Bank, which has 14 branches in central Massachusetts and requires a $500 minimum deposit.
- Danversbank, which has more than 30 branches in the Boston area and requires a $500 minimum deposit.
- NOVA Bank, which has a dozen branches in the Philadelphia area and requires a $500 minimum deposit.
Banks and credit unions qualify for our CD Rates Leaderboard by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.
And their rates are significantly higher than the 36-month rates of large banks and thrifts, which are paying an average annual yield of 1.04% APY.
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