8 banks competing for top half year cd rates
Aurora Bank continued as the No. 1 bank as far the 6 month CD rates offered, are concerned. The rest of the rankings have been slightly scrambled because of the cuts taken by New Dominion Bank rates. Currently 7 banks are tied for the 2nd and the 3rd place, and only 0.01 % separates them which is really quite incredible. All these banks, impressively enough, are paying rates which are 3 times the national average, as far as half year certificates of deposit are concerned. This is however a sad fact that the average rate is a record low touching 0.33%. The lead has been held by Aurora Bank, which is based in Wilmington, Del. The bank, which has a Jersey City branch as well, has been paying a healthy interest of 1.1.6% APY for a minimum deposit of 1000 dollars.
Currently there are 4 banks that are paying 1.11% APY and 3 more banks which are just 0.01% behind, thereby paying 1.10% APY. The 1.11% banks are the Ascencia, which is an online division of PBI Bank that needs a 500 dollar deposit, the giantbank.com, the Goldwater Bank and the Virtual Bank with the last 2 requiring a minimum deposit as high as 10,000 dollars.
