Acacia Federal Savings Bank is offering a 60 Month CD that pays 4.50% APY. That's currently the highest 5 year CD rate on the BestCashCow rate tables.

BankDeals, which first notes this offer, reports that the offer is nationally available and accounts can be opened via an online application. The application requires you to sign and send-in a signature card and the account can be funded via wire or check. When the CD expires, the funds can be withdrawn via a check or a $12 outgoing wire transfer.

Acacia Federal Savings is based in Viriginia and serves the great Washington DC metro areas. It is a division of Acacia Life and had assets of $1.6 billion as of the end of 2007. Bauer Financial gives the bank 3 1/2 stars out of 5 for safety and soundess, a decent rating.

Acacia is a thrift insitution which operates in the Washington DC metro area. It is a subsidiary of the Acacia Life Insurance Company and had assets of $1.5 billion at the end of 2007.

• View top one-year online CD Rates.

DollarSavingsDirect, an online division of Emigrant Bank is offering a 16 month CD at 4% APY. That's slightly below the best 18 month CD rate of 4.40% APY and also slightly below the best 12 month CD of 4.25% APY. Still, the rate is competitive and DollarSavingsDirect has gotten high marks for its account opening process based on user comments.

The minimum balance to open the account is $1,000.

The offer is also available via Emigrant's other online division, EmigrantDirect where it's called a "My Way" Certificate of Deposit. DollarSavings and EmigrantDirect share the same parent so deposits at both insitutions count towards FDIC insurance limits. As an example if you put $100,000 in DollarSavings, and $200,000 in EmigrantDirect, your total deposited at Emigrant would be $300,000 and currently, $50,000 would not be covered. Please also note that FDIC insurance while currently at $250,000 per person per bank, is set to revert to $100,000 on December 31, 2009. That means that if you take out $250,000 on a 16 month CD, $150,000 will lose coverage with approximately 3 months remaining on the term.

• Compare 1-Year CD rates.

Bank of America is offering a very competitive 48-59 month CD paying 4.01% APY. But is only seems to be available for Massachusetts residents. After being tipped off on the rate, I checked a variety of different states (CA, NY, TX, NH, CT) and couldn't find the same rate. California doesn't even list the rates for standard Certificates of Deposit.

To get this rate you must either apply online, or be an Advantage Checking, Money Manager, Premier, Private Bank, and Small Business client managed customer.

Compared to other big banks (Chase, Wells Fargo, this Massachusetts CD rate is very competitive. For other states, the 48-59 Month Bank of America CD rate is in the 2-2.5% APY range. It's also competitive compared to the best 3 year CD rates from all FDIC insured banks.

The fact that the offer is only available in Massachusetts demonstrates the cookie-cutter approach large national banks take to pricing. They often offer higher rates in more competitive markets. The more bank competition, the better.