While most major banks and financial institutions are lowering their rates, the big student lender, Sallie Mae has stayed steady and now they are on top for the best 1 year CDs.

In February 2010 the average 12 month CD rate was sitting around 0.77% APY and now in September, is sitting around a record low of 0.61%.

Here is a list of the next best nationally available CD rates:

• NewDominion Bank – Paying 1.51% APY with a minimum deposit of $3,000.
• Ascencia – Paying 1.50% APY with a minimum deposit of $500.
• Bank of Interest USA – Paying 1.48% APY with a minimum deposit of $1,000.
• Giantbank.com – Paying 1.46% APY with a minimum deposit of $2,500.

These banks are open to anyone within the U.S.

Be sure to compare our latest CD rates from our database of banks and other financial institutions.

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.

For the sake of making this simple and using an amount that is more achievable by the average American, a $1,000, 24 month CD at 2.00% will net you $40.78 AFTER 2 years! This is more than most savings accounts, but I bet you could find a car on Craigslist, fix it up and make a profit more than $40. In fact I bet you could do that a few times within the next 2 years. The point being, is it really worth sticking your money into a 2 year CD at 2.00%? That’s the question you have to ask yourself.

Here is a list of the highest paying 24-month certificate of deposits:

• NewDominion Bank just cut their 24 month CD rate from 2.00% to 1.95%. They are still the highest paying 24-month CD and requires a minimum deposit of $3,000.
  • With a deposit of $3,000 @ 1.95%, this certificate of deposit will net you $119.21 in two years.
• Bank of Internet which is an online bank based in San Diego is paying 1.89% APY with a minimum deposit of $1,000.
• Acacia Federal Savings Bank, also an online bank owned by the Acacia Life Insurance Co. is paying 1.80% APY with a minimum deposit of $500.
• Discover Bank, an online bank by the credit card company ‘Discover’ is paying 1.80% APY on a minimum deposit of $2,500.
• Colorado Federal Savings Bank, also an online bank located in Greenwood Village, CO is paying 1.80% APY with a minimum deposit of $5,000.

Since these are all online banks they allow anyone from anywhere to open an account and deposit funds into their certificate of deposits.

Be sure to compare the best CD rates from our database of banks and financial institutions.

The only certificate of deposit that has moved the most in the past few weeks is the 2 year CD.

Here are the best CDs currently available to resident’s nationwide:

• 3 Month CD – 1.35% APY at iGobanking with a minimum deposit of $500.
• 6 Month CD – 1.25% APY at NewDominion Bank with a minimum deposit of $3,000.
• 12 Month CD – 1.55% APY at Sallie Mae Bank with no minimum deposit.
• 24 Month CD – 1.95% APY at NewDominion Bank with a minimum deposit of $3,000.
• 36 Month CD – 2.50% APY at Danversbank with a minimum deposit of $500.
• 60 Month CD – 3.03% APY at Melrose Credit Union with a minimum deposit of $5,000.

The credit union listed in our leadership board is open to anyone in the U.S. regardless of where they live or work.

Be sure to check our CD rates page for the most up to date rates.

Here are the best CDs currently available to resident’s nation wide:

• 3 Month CD – 1.35% APY at iGobanking with a minimum deposit of $500.
• 6 Month CD – 1.25% APY at NewDominion Bank with a minimum deposit of $3,000.
• 12 Month CD – 1.76% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 24 Month CD – 2.02% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 36 Month CD – 2.52% APY at Melrose Credit Union with a minimum deposit of $5,000.
• 60 Month CD – 3.29% APY at Melrose Credit Union with a minimum deposit of $5,000.

Melrose Credit Union is one Credit Union that allows any U.S. resident to join with a sign up fee of $1. This makes Melrose a great option since they also have some of the Nation’s best CD rates available.

You can always compare the best CD rates from our database of banks and institutions to find the best options for your money.