iGOBanking Drops 24 Month CD Rate

iGObanking just lowered their 24 month CD rate from 2.25% to 2.00% APY, which is still over a quarter point higher than the next leading rate from Bank of Internet at 1.72% APY. Even though iGObanking dropped their 2 year CD rate to 2.00%, that rate is actually amongst the best rates for the 3 year CDs.

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.

MetLife, Melrose Tops 12 Month CDs

MetLife Bank has one of the best 12 month CD rates available with some stipulations. The top 12 month CD rate goes to Melrose Credit Union at 1.51% with a minimum deposit of $5,000, but closely behind Melrose is MetLife at 1.45%. However, MetLife's 12 month CD requires a $25,000 minimum deposit, which is quite high for a CD.

If you invest less than $15,000 in their 1 Year CD, you will earn 1.00% APY and 1.35% APY for deposits of $15,000-$24,999. Any investment above $25,000 will earn you the top CD rate of 1.45% for the 12 months.

Other top online CD rates include:

  • Bank of Internet at 1.41% APY with a minimum deposit of $1,000. This online bank is out of San Diego, CA.
  • Sallie Mae Bank at 1.40% APY with no minimum deposit and is owned by the big student loan lender Sallie Mae.
  • Ascencia at 1.40% APY with a minimum deposit of $500. This is an online division of PBI Bank in Louisville, KY.

All of these financial institutions have no restrictions on who can buy into their CDs. Melrose Credit Union allows anyone, anywhere to join by filling out an application and pay their $1 fee.

Bank of Internet 30 yr Fixed Mortgage Rate

Bank of Internet is currently featuring a low 30 year fixed mortgage rate.

While the national average mortgage rates are pushing 4.3% Bank of Internet is showing a 4.125% with an APR of 4.286%.

This advertised rate assumes this is a first mortgage on a primary residence under 80% LTV (Loan to Value).

Bank of Internet seems to have a fairly strict approval process for new customers.  Some people report getting rejected even with good credit scores.

Here are some more features with Bank of Internet:

  • The Bank is FDIC Insured.
  • Online Safety Guarantee — Which covers 100% of any losses due break-ins, or funds that are misplaced, lost, or taken out of your account without your authorization. (see fine print below for more details)
  • Rates that consistently beat the national average.

For more information visit Bank of Internet's website.