The average rate offered by thrifts and big banks for 60 month CDs has dropped to 1.69%. The best rate available nationally for this period is the 2.93% APY, which is being offered by Melrose Credit Union.
This can be availed on a minimum deposit of $5,000. Other rewarding deals on 60 month CDs are the 2.80% APY and 2.75% APY that customers can earn at Sovereign Bank and Danvers Bank respectively. Both require customers to have a minimum deposit of $500.
