This small credit union from Queens, N.Y still leads in the 5-year ranking, but has dropped below the 3% barrier. They are still paying a quarter-point more than any other financial institution and also still lead in other CD terms.

One of the reasons why rates are tumbling is because the Fed continues to give banks as much cash as they want for near nothing. The Fed also announced in early November that they planned on buying $600 Billion worth of Treasury Bonds, this move has helped keep rates depressed.

Here is a list of the next best 60-month CD rates:

• Danversbank from Boston at 2.75% APY with a minimum deposit of $500.
• Stonebridge Bank from Philadelphia at 2.65% APY with a minimum deposit of $500.
• Acacia Federal Savings Bank based in Falls Church, VA at 2.60% APY with a minimum deposit of $500.
• First Internet Bank of Indiana from Indianapolis, IN at 2.55% APY with a minimum deposit of $1,000.

Anyone nationwide can qualify and open an account with these banks and financial institutions. Melrose Credit Union also allows anyone to join their credit union for a $1 fee and a $25 deposit into a savings account.

Compare these rates with our updated CD rates board to be sure you get the best rates available nationally.

TD Bank

TD Banks Slogan is “Americas Most Convenient Bank”.

We’ll review there mortgage rates and then review just how convenient they are able to make your banking experience.

Each of the loan scenarios will be based on an 80% loan to value and 1 point.

30 Year Fixed

• Rate of 4.125%
• APR of 4.263%

15 Year Fixed

• Rate of 3.375%
• APR of 3.615%
• Note: The 15 year fix at 0 points is only 3.625% with an apr of 3.719%.
• TD’s 15 year fixed product is one of the better we have seen.

Lets compare these rates to the nations average mortgage rates. (Based on Freddie Macs Primary Mortgage Market Survey).

• Average 30 year with 0.8 points = 4.23%
• TD Bank 30 year with 1 point = 4.125%

• Average 15 year with 0.7 points = 3.66 %
• TD Bank 15 year with 0 points = 3.625%

As you can see TD Bank is lower than the national average.  There 15 year fixed mortgage is excellent right now and worth taking a look into.

Is the loan process “convenient”?

As I browse through TD Banks website I notice it is easy to navigate and find my way around.

They have some pretty cool programs like the Mortgage Rate Security, If rates drop after you have made 12 timely payments, you may be able to lower your rate without refinancing.  Or the Hassle Free Mortgage Guarantee which is there pledge to you that your mortgage process will go smoothly.

They also have a rate watch feature that will notify you via email when rates hit your goal.

Use our Mortgage Calculator to figure out your payments.

Now obviously I haven’t gone through the mortgage process with them so I cannot speak to that, but according to MyBankTrackers bank review TD Bank has 2 out of 5 stars based on 155 user reviews.  This is not a good rating.  This rating is based on TD Bank as a whole, not just there mortgage department.

If you have had a good or bad experience with TD Bank please share in the comments below.

TD Bank serves Connecticut, Delaware, Washington DC, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont and Virginia.

Nova Bank

Nova CD Rates:

• 6 Months – 0.50% APY
• 12 Months - 1.10% APY
• 2 Years – 1.65% APY
• 3 Years – 2.15% APY
• 5 Years – 2.65% APY

Where does Nova Bank CD Rates compare to other banks?

Nova Bank comes in pretty close to the highs of certificate of deposits.  Right now we have seen the 12 month CDs pushing 1.4%, but there are not to many banks offering the 3 year cd rates around 2.15%.  Nova bank is very competitive with their CD Rates.

Checkout all the CD Rates here.

Nova Savings Account Rates and terms:

• .25% APY
• $250 min. daily collected balance
• Free ATM card
• Min. Balance of $250 or $5 monthly fee if below balance
• Interest compounded daily on daily collected balances and paid monthly
• Limited pre-authorized transactions per statement cycle

If you want to check out more details on Nova Bank or see the fine print click here.

Please take note of the date of this article to help determine its accuracy.

If you are looking at getting into a CD, it might be best to hold off and wait for the CD rates to increase in 2011, which is only a speculative guess and should not be taken as fact. Any long term Certificate of Deposit might be a bad idea now that rates are so low.

Always consult a certified financial adviser when making any decisions.

You can always view the latest CD rates from our database of banks and other financial institutions that we follow from our CD rates page.