A new offer from ING Direct has claimed a top spot in our rankings of the best 12-month CD rates.

The online operation of the giant Dutch bank is paying 2.10% APY with no minimum deposit as of Oct. 7. It sweetened the deal on Oct. 11 to 2.25% APY if you open the account with money from non-ING accounts.

MetLife Bank also offers a 2.25% APY, but you have to invest at least $25,000 to qualify for that rate.

New South Federal Savings Bank, based in Birmingham, Ala., rounds out the top three, paying a 2.10% APY with a $1,000 minimum.

You can apply for an ING certificate of deposit online. The interest can be paid monthly and deposited into a checking or savings account at any bank.

Click here to compare this deal with the best CD rates from dozens of other banks in our extensive database.

By Carolyn Siegel

Interest.com Associate Editor