A Change On The 2 Year CD Rate

Hudson City Savings Bank held the second best 24 month certificate of deposit until it cut its rate of return from 2.00% APY to 1.75% APY on August 9th, 2010.

It is still a great CD rate but now it’s nearing the highest 12 month CDs, making its 24 month CD not as attractive as before the decrease. Since Hudson City Savings Bank cuts its 2 Year CD rate down to 1.76% APY, its no longer high enough to classify it as one of the best 2 Year CD rates.

Here is a good list of the better 2 year CDs available nationally:

  • Melrose Credit Union holds the top spot for the 2 year CD at a rate of 2.02% APY. They have one location in Queens, NY and is open to all US residents. Their 2 Year CD requires a minimum deposit of $5,000.
  • New Dominion Bank holds second place for the 2 Year CD at a rate of 2.00% APY. They have locations in Charlotte and Mooresville, NC and require a minimum deposit of $3,000.
  • Stonebridge Bank carries the third place spot with a rate of 1.90% APY. They have four branches in SE Pennsylvania and require a minimum deposit of $500.
  • Bank of Internet comes next with a rate of 1.89% APY and is an online bank, but based in San Diego. Their minimum required deposit is only $1,000.
  • Colorado Federal Savings Bank comes in 5th with a 2 Year CD rate of 1.85% APY. This is also an online based bank, located out of Greenwood Village, CO. Their minimum required deposit is $5,000.

You can find more information on the top 2 Year CD rates from our extensive CD database.

Related BankAim Articles

No comments yet. Be the first.

Leave a reply

*email address will be kept confidential