The best CD rates on the market just became a little less attractive as EverBank cut the interest on its highest yielding 5-year CD to 3.30% annual percentage yield, from 3.44% recently. Still, the online bank based in Florida remains the place to go for the best available 5-year CD rates in the country. This has been the case since March 16 on this year.
From March 16 to April 2, the rate actually increased gradually form 3.30% to 3.44%, but eventually came back down to 3.30%. Nationally, the average for 5-year CD APYs has risen to 2.14% from a record low of 2.06% in late January of this year.
EverBank only asks for a minimum deposit of $1,500; however, they do slap higher penalties than most banks for pre-terminations; 25% of the interest you would have earned if you’d kept the account for the length of the term.
Apart from EverBank, the best rate is 3.25% APY, you can get this rate from:
An online division of Flushing Savings, igobanking.com requires only a $1,000 minimum deposit.
Miami Lakes base BankUnited asks for a $5,000 deposit, they have 75 branches in FL.
Have a look at our database where you can find CD rates listings for many other banks, and find yourself a great deal.
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