The Highest 5 Year CD Rate is 3.50%

by CD Rates on June 21, 2010 · 0 comments

in Rate Updates

If you happen to live in the New York area, then City National Bank (of New Jersey) might be your best bet.  With the highest 5 year CD in the country at 3.50% APY, and only a minimum of $500 to open an account, you might want to drop by one of their 10 locations.  This is at least 22 basis points higher than anything available nationally.  We suspect this offer will not last long since it is much higher than it’s peers.

The highest 5 Year CD available nationally is 3.29% APY which is available through the Melrose Credit Union.  You can sign up online or via their one of their one location.  Anyone is eligible to join and pays a $1.00 one time membership fee, and a minimum opening deposit of $25.00.  In order to get that high yield CD rate you must deposit at least $5,000.00.  Dividends are compounded quarterly.

Since last week, the 5 year CDs dropped 4 basis points from the average of 2.76%, to 2.72% APY.  So the downward trend on longer term rates continue.

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