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24 Month CD Rates Averaging 0.43%: Best 2 Year CD Rates at 1.26% APY
 

24 Month CD Rates Averaging 0.43%: Best 2 Year CD Rates at 1.26% APY

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CD rates at banks just keep on getting lower and lower as time moves on and we can expect more of the same until mid 2015 since the Fed announced they are extending their accommodating stance, keeping interest rates low, until then. In this week's rates survey 24 month CD rates are averaging 0.43 percent and 2 year jumbo bank CD rates are averaging 0.44 percent. Right now the best CD rates on 2 year certificates of deposit are almost three times the national average at 1.25 percent with an APY of 1.26%.

AloStar Bank of Commerce is the bank that is offering 24 month CD interest rates at 1.25 percent with an APY of 1.26 percent. The minimum opening deposit for an AloStar Bank of Commerce certificate of deposit account is $1,000. Coming in with the second highest CD rates on our 2 year national rate list is CIT Bank. Today's CIT Bank CD rates on 2 year certificates of deposit are at 1.25 percent with an APY of 1.25 percent.

Doral Bank has the third highest CD interest rate on our 2 year rate list at 1.17 percent with an APY of 1.18 percent. Doral's minimum opening deposit is $1,000. Three banks are tied with the fourth best bank CD rates on our rate list at 1.14 percent with an APY of 1.15 percent.

Discover Bank CD rates, Barclays Bank CD rates and ableBanking CD rates on 2 year certificates of deposit are all at that rate and yield. Discover's minimum opening balance is $2,500, ableBanking's minimum is $1,000 and Barclays doesn't have a minimum opening deposit.

Current Ally Bank CD rates round out the top 5 on our 2 year rate list. CD rates at Ally Bank are currently at 1.13 percent with an APY of 1.14 percent. There is no minimum opening deposit for an Ally Bank certificate of deposit account.

As you can see the top 5 two year CD interest rates on our list are all well above the national average CD rate for both regular CD accounts and jumbo CD accounts. You can search for and compare CD rates for all types of certificate of deposit accounts by using our rate lists.

Author: James Martin
September 17th, 2012