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.

For Knox FCU, Melrose FCU Top CD Rates

Sometimes the best CD rates come from local Credit Unions. Most Credit Unions only allow local residents to join their union, making it difficult on finding the best CD rates, but with our local bank rate search, you can easily and quickly find the best local CD, savings, and checking rates in your area.

The two credit unions who offering some of the top certificates of deposit rates are Fort Knox Federal Credit Union and Melrose Credit Union.

  • Fort Knox Federal Credit Union in Radcliff, KY is offering a 3 Month CD at 1.40% APY with a required minimum deposit of $500.
  • Fort Knox Federal Credit Union is also offering the best 6 Month CD at 1.40% APY with a minimum deposit of $500.
  • Melrose Credit Union located in Queens, New York is offering a 12 Month CD at 1.76% APY with a minimum deposit of $5,000.
  • Melrose Credit Union is also offering the best 24 Month CD rate at 2.02% APY, the best 36 Month CD rate of 2.52% APY and the best 60 Month CD rate of 3.29% APY all with a minimum deposit of $5,000.

Most credit unions if they are not only open to local residents require you to qualify for their membership.

To join the Fort Knox credit union all you have to do is join the American Consumer Council right on their website. Follow the instructions on becoming a member. For “Eligibility Criteria,” use the menu to click on “American Consumer Council/Kentucky Chapter.”

Joining this credit union is simple in terms of qualifying for their membership. Once you have completed the application process you will be automatically enrolled into the consumer advocacy group which will give you access to their best CD rates.

The cost for joining their credit union is $15.

The Melrose Credit Union allows all U.S. residents to join their membership and the cost is only $1.

All deposits at Fort Knox and Melrose are federally insured by the NCUA (National Credit Union Administration).