CD Rates at Banks March 28, 2013
CD rates in the FDIC rate survey were lower this week, continuing the low declines of the past 5 years. Average rates on certificates of deposit from 1 month to 5 years were all lower in this week's National Rates and Rates Cap Survey. The good news is the best CD rates available on CD terms from 1 month to 5 years remained unchanged.
[caption id="attachment_154537" align="alignright" width="300"] Source: FDIC[/caption]
Average 1 month CD rates declined to 0.06 percent for the week ending March 25, 2013, down from last week's average 1 month rate of 0.07 percent. The highest CD rates on 1 month CDs in our rate database remain unchanged at 0.15 percent, more than double the national average rate. Two banks in our database are currently offering that rate and yield, Lone Star Bank and Virtual Bank.
Average 3 month CD rates this week are at 0.09 percent, down from last week's average 3 month rate of 0.10 percent. The best 3 month CD rates in our database remain unchanged at 0.46 percent from EverBank. AloStar Bank of Commerce is offering the second best 3 month rate in our database at 0.45 percent.
The highest 6 month CD rates in our database this week remain unchanged at 0.88 percent from Doral Bank Direct. The second highest is from Discover Bank and Colorado FSB at 0.75 percent. Average bank CD rates in the FDIC survey this week are considerably lower at 0.13 percent, which is down from the prior week's average 6 month rate of 0.15 percent.
12 month CD interest rates are averaging 0.22 percent in this week's FDIC rate survey, a decline from the previous week's average 12 month rate of 0.23 percent. The best CD rates in our database of 12 month certificates of deposit are at 1.04 percent with an APY of 1.o5 percent. The bank offering the highest 12 month rate on our rate list this week is GE Capital Retail Bank.
2 year CD rates are averaging 0.35 percent this week, down from last week's average 2 year rate of 0.37 percent. Virtual Bank has the highest 2 year rates in our database at 1.15 percent with an APY of 1.16 percent, unchanged from last week's rate. The second highest 2 year rate in our database is from Home Savings Bank and GE Capital Retail Bank at 1.14 percent with an APY of 1.15 percent.
Moving onto 3 year rates this week we see the average rate is down to 0.48 percent, a decline from last week's average 3 year rate of 0.50 percent. The highest 3 year rates on our rate list remain unchanged at 1.35 percent with an APY of 1.36 percent from The National Republic Bank of Chicago. The second highest 3 year rate is from Barclays Bank at 1.34 percent with an APY of 1.35 percent.
Average 4 year CD interest rates this week declined to 0.59 percent, down from last week's average 4 year rate of 0.62 percent. The best 4 year rates on our list are from Nationwide Bank at 1.55 percent with an APY of 1.56 percent. The second best 4 year rate is from Barclays at 1.54 percent with an APY of 1.55 percent.
5 year rates are averaging 0.77 percent, a decline from the prior week's average 5 year rate of 0.79 percent. The highest 5 year rates in our database remain unchanged at 1.85 percent with an APY of 1.87 percent from The National Republic Bank of Chicago. The second highest 5 year rate is from Barclays at 1.83 percent with an APY of 1.85 percent.
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