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.