BankShout surveys U.S. national and Internet-only banks for the highest yields on consumer certificates of deposit. Annual percentage yields for the following terms are current as of May 17, 2010. All institutions mentioned below are insured by the Federal Deposit Insurance Corporation.

As I wrote several weeks ago, 2-year certificate of deposit yields have remained a relative bright spot for consumers. Banks don’t seem as willing to cut the longer-term CD yields, opting instead to try to attract depositors to multi-year terms. This week brings a brand new leader in 2-year CD APY: NOVA Bank, which is offering 2.10% APY for a minimum deposit of $500.

NOVA’s deal surpasses the 2-year leader from earlier in the month, newdominionDIRECT.com. Newdominion is still over the 2% mark however, with a 2.03% APY for the bank’s 24-month certificate. Minimum deposit is $3000.

A number of banks remain at 2.00% APY for the 2-year term. These include American Express Bank (no minimum deposit), iGOBanking ($1000 minimum), Discover Bank ($2500 minimum), and One West Bank, FSB ($5000 minimum). Ally Bank held its yield at 1.99% APY for a 2-year term; the Utah Bank requires no minimum balance. Nexity Bank, of Alabama, continues its trend of cutting yields, down to 1.97% APY from 1.98% in early May (and 1.99% in April).

Banks may be trying to tempt depositors into longer terms in exchange for relatively higher returns, although all CD and savings rates remain fairly low amid a lack of demand for consumer deposits.