CIT Bank, is offering 1.85% APY on CDs for the 60 month term with a minimum deposit of $1,000. Other banks like Discover Bank, Nationwide Bank, MyBankingDirect and AmTrust Direct pay 1.75% APY for 60 month term.
However E-Loan and Barclays Bank pay 1.70% APY for the 60 month period. The average yield that thrifts and large banks are offering annually for the 60 month term has decreased to as low as 0.98%.