Wells Fargo Bank, is offering 0.80% APY on CDs for the 58 month term. Previously, the bank paid 0.90% APY for the same term. The CD rate is available with a minimum deposit of $5,000 in New York, Miami, Los Angeles, Chicago and Detroit.
The sad thing about this rate is that most banks now pay at least 0.90% APY for the 60 month term.