3 month CD – 0.15% APY
6 month CD – 0.15% APY
8 month CD – 0.15% APY
9 month CD – 0.15% APY
12 month CD – 0.15% APY
13 month CD – 0.15% APY
15 month CD – 0.15% APY
18 month CD – 0.15% APY
24 month CD – 1.25% APY
36 month CD – 1.70% APY
48 month CD – 1.00% APY
60 month CD -2.25% APY
7 year CD – 1.35% APY
10 year CD – 1.75% APY

How These Rates Compare

It is surprising how iGoBanking is offering the same rate starting from their 3 month CD all the way to their 18 month CD. Competitive rates only start from their 24 month, or 2 year CD. Right now, their 2 year CD at 1.25% is still lower than the highest nationally available which is from CIT Bank and AloStar Bank of Commerce at a 1.30% APY. However, iGoBanking.com leads the way in long term CDs such as their 3 year and 5 year CD which are the highest nationally available from banks.

The only other institutions that give out better long term rates are from credit unions. Melrose credit union is offering the 5 year CD at 2.68%, and the 3 year CD at 1.91%. Fairwinds Credit Union is also giving a 2.33% APY on a 5 year CD.

About iGoBanking

iGoBanking is the online arm of Flushing Savings Bank that allows consumers to make deposits and transactions easily through their personal computer. Flushing Savings Bank has been in business since 1929 and it is an FDIC insured institution, insuring savings to the maximum of $250,000 per account.

For those who are looking for places to park their money for the long term, these rates from iGoBanking are some of the highest nationally available among banks. Managing your accounts are also made easy since everything is done online.

This might be a sign of things to come as rates continue their slide down the charts. No other bank or financial institution is close to paying 2% on any 24 month CD. Keep in mind that the national average of a 2 year CD is sitting right around 0.77% APY.

Here are the next best 2 Year certificates of deposit:

• Melrose Credit Union at 1.76% APY with a minimum deposit of $5,000 and is located in Queens, NY.
• Presidential Bank at 1.75% APY with a minimum deposit of $1,000 and is located in Maryland, Virginia and Washington D.C.
• Bank of Internet at 1.72% APY with a minimum deposit of $1,000 and is an online bank from San Diego, CA.
• Discover Bank at 1.65% APY with a minimum deposit of $2,500 and is the online bank owned by the credit card company.

All of these banks and credit union allows anyone to join or buy their CDs. Melrose Credit union allows anyone to join for only $1. They impose no restrictions and are located out of Queens, New York.

Be sure to compare all of the best CD rates from our certificates of deposit database.

iGObanking still offers the best 24 month rate and Melrose Credit Union basically takes up the rest of the top spots. Melrose consistently holds the top rates for not only the 12 month CDs but also the 36 month and 60 month terms.

Bankaholic recently sat down with the people at Melrose Credit Union and asked them why they are able to offer such high CD rates, view their responses here. It’s encouraging to see a Credit Union that is actually working for the people and giving back the money made in lower loan rates and higher savings rates. With their current business plan and how they invest their customer’s money, I believe they will hoard the top spots of most of the CDs for a long time to come.

Certificate of deposit rates can change at a moments notice. Be sure to visit the bank or credit union’s website to see if the rates posted are still up to date.

With most credit unions, you are required to fulfill a bunch of requirements before being allowed into the credit union. Melrose has an open membership, so that anyone anywhere can join after paying a $1 fee and holding $25 in a savings account. Be sure to check out their website and download the application, fill it out and return it with the specified documents. Once you become a member you will have access to the best CD rates available nationally.

You can always compare these rates with other banks and financial institutions on our CD rates page.

Right now you can get their 36 Month CD at 1.85% APY and while that isn’t the best rate available, they offer a sense of security. American Express is rated one of the most stable financial institutions and Bankrate gives them a 5 of 5 star soundness rating.

There are no minimum deposits or account fees when you sign up for any of American Express’s CD products.

Currently American Express is number 11 for having the highest 3 year CD. Here is a short list of the best 36 month certificate of deposits available:

• Melrose Credit Union at 2.27% APY.
• iGObanking at 2.25% APY.
• Bank of Internet at 2.05% APY.
• USAA at 2.00% APY.

While you can get better rates from one of these other banks or credit unions, American Express will keep you feeling like your money is secure.

Be sure to check out our CD rates board for the best certificate of deposit in your area.

iGObanking is an online division of Flushing Savings Bank in New York.

Here are the next best nationally available 2 year CD rates:

• Melrose Credit Union at 1.76% with a minimum deposit of $5,000, based out of Queens, New York.
• Bank of Internet at 1.72% with a minimum deposit of $1,000, based out of San Diego, California.
• Discover Bank at 1.65% with a minimum deposit of $2,500, the online bank of the major credit card company.

All of these banks and credit unions allow anyone to purchase their certificates of deposit and impose no other restrictions.

Melrose Credit Union allows anyone, anywhere to join for only $1 and must keep at least $25 in a savings account.

Be sure to check out our best CD rates leader-board for the best CDs in your area.

By following all of the top CDs, we can tell you that the average rates have fallen for the 24^th straight month in October. Bankrate keeps track of hundreds of banks and their CD rates and every month the average rate continues to decrease. There are those few and far between moments where we find a great deal such as iGObanking’s 2.25% 2 Year CD, I don’t expect this to last much longer.

Long-term rates are being hit the hardest and while the Fed has started their new bond-buying program, interest rates are expected to fall across the board over the next many months. I do not see how our leaderboard’s rates can stay this high over the next few days and weeks.

Ally is one of the more stable financial institutions with a 4 of 5 star rating from Bankrate and is also FDIC insured. Ally offers a one time rate increase if they ever increase their rates on any of their certificate of deposits. Their 2 year CD rate of 1.60% may be a good deal because they have no minimum deposit and if they increase their rates in the next few months you will also be able to increase your rate. With their one time rate increase, if CD rates increase in 2011, you will have the option of capturing the better rate without starting a new 2 year term.

Ally does have an early withdrawal penalty for any withdrawals before the maturity date. The fee is equal to 60 days interest.

Be sure to compare how Ally’s CD rates stack up against other banks and financial institutions.

Melrose Credit Union still holds 3 of the top spots with the best rates on the 12 month, 36 month and 60 month CDs.  Melrose has consistently held the top spot for multiple CD terms for many months and their $1 joining fee makes it a very enticing investment.

Be sure to check out our top CD rates from our CD rates board.

iGObanking ran a promotional 3 month CD back in the summer which boasted rates that were better than the 6 month averages.

iGObanking is looking better by the minute as they have a low $1,000 minimum deposit. Usually in exchange for a great rate you have to deposit a large sum of money, not with iGObanking.

Be sure to check out our top CD rates from our CD rates board.

Not only do both of these financial institutions hold the top spot for many CDs, but they blow away the national average (0.59% APY – 1 year CD) for any certificate of deposit on the market today. In a struggling economy it’s difficult to find a decent rate of any kind, unless if you are planning on refinancing your mortgage or buying a house. Mortgage rates are falling to all time lows, which are good for people in the home buying market, but rates in the savings market are dismal.

The next best CD rates for the 1 year term are as follows:

• 1.48% APY from Bank of Internet, with a minimum deposit of $1,000.
• 1.45% APY from MetLife Bank, with a minimum deposit of $25,000.
• 1.40% APY from Ascencia, with a minimum deposit of $500.

As the economy strengthens and interest rates increase, so should CD rates. All eyes are on what will happen next year and whether CD rates will increase in 2011, only time will tell.