In a glimmer of light for savers, one American bank this week raised a key certificate of deposit yield. Here’s a review of this week’s top jumbo CD rates among U.S. national and Internet banks, current as of April 8, 2010:
EverBank boosted its nation-leading rate on jumbo certificates of deposit, or deposits of at least $100,000, as the Jacksonville, Florida based-bank seeks to distance itself from competitors. EverBank raised its 5-year jumbo annual percentage yield to 3.44% from 3.33% last month. The next-best APY available nationally is from USAA, the military-associated financial institution, which held its jumbo yield to 3.15% APY for a 5-year term.
Nationwide Bank also held its jumbo APY steady, at 3.10% for a 5-year term. Two other institutions, Discover Bank and OneWestBank, FSB, both dropped jumbo yields from 3.10% to 3.00% for deposits of $100,000 minimum. AIG Bank, part of the much-maligned firm that was the subject of a controversial government bailout, held its jumbo 60-month APY at 3.05%. Heavily-advertised Ally Bank continued a troubling trend of lowering deposit rates; Utah-based Ally lowered its jumbo 5-year yield to 2.99%, down from 3.09% APY in March following a high of 3.15% APY in February.
In 3-year jumbo yields, a new leader emerged in Pittsburgh, PA’s TriState Capital Direct, which is advertising 2.50% APY for balances of 100-large or more.
Here on BankShout, we’ll hope that EverBank’s deposit rate increases soon become the norm for the market, rather than the exception. Log into BankShout daily for banking news updates and money-saving tips.


Kevin Fleming founded the CreditShout Network in 2008 to help people manage their credit and finances. Kevin wants to make it easy for anyone, regardless of their level of financial knowledge to understand banking and what may seem like the complex world of personal finance.

