Fluctuating rates for 2 year certificate deposits now stabilize
Just a couple of weeks before there were fluctuation noticed among banks in terms of the rate of interest offered for certificate deposits for a 2 year term. After a long period of turbulence, the interest rate for 24 month CDs now seems to have stabilized.
Surprisingly, it is San Diego’s online bank, the Bank of Internet, which still holds the first spot. With an offering of 1.79% APY on a minimum deposit of $1000, this is a deal that most banks find tough to match up to.
The second best deal of the 24 month CD is being offered is 1.75% APY. The Melrose Credit Union offers this interest rate only to customers who deposit a minimum of $5000 with them.
The third spot is offered by multiple banks that are offering an APY of 1.75% for 2 year certificate deposits. Discover Bank offers this interest rate on $2500 minimum deposit, whereas the Acacia Federal Savings Bank offers it for consumers investing $500 or more on their CDs. By just investing a minimum of $1000, you can avail this interest rate at iGObanking, Flushing Saving Bank’s online division. Finally, just a $250 minimum deposit will suffice to avail this interest rate at H&R Block Bank.
