State Bank of India has raised its rate on 60 month certificates of deposit. It now offers 1.91% APY on the CDs only if a deposit of at least $2,500 is made.
To avail the rate, savers will have to visit the New York branch of the bank. They also have the option of applying for the deal on the internet.
The next best rate on CDs for the 60 month term that savers across the nation can avail is 1.81% APY, which is being paid by the National Republic of Chicago. You will have to make a minimum deposit of $1,000 to earn the rate.