CD Rates June 11, 2013: Best 12 Month Rates at 1.05% APY
Though average CD rates continue to drift lower, the best CD rates on our 12 month certificate of deposit rate list remain at 1.04 percent with an APY of 1.05 percent. The current national average 12 month CD rate is at 0.21 percent and last month the national average 12 month rate was at 0.22 percent.
The highest 6 month CD rate this week on our rate table remains at 0.88 percent from Doral Direct. This bank's rate is only 16 basis points lower than the highest 12 month rate and is considerably higher than the national average rate. The current national average rate is at 0.13 percent, 75 basis points lower than Doral Direct's rate.
EverBank has the best rate on our 3 month certificate of deposit rate list this month. EverBank's current 3 month rate is at 0.46 percent. This rate is much higher than the current national average 3 month rate of 0.08 percent.
The best 2 year CD rate this month is from My e-BAnC, the online banking division of BAC Florida Bank. My e-BAnC is currently offering 24 month CD rates at 1.10 percent with an APY of 1.11 percent. My e-BAnC's 2 year rate is more than 3 times the national average 24 month rate of 0.33 percent.
3 year CD rates are averaging 0.45 percent while the best 3 year rates on our list are at 1.34 percent with an APY of 1.35 percent. The bank offering the best CD rate on our 3 year certificate of deposit rate list is Barclays Bank.
The highest bank CD rates on our 4 year certificate of deposit rate list are also from Barclays Bank. The bank is offering 4 year rates at 1.54 percent with an APY of 1.55 percent. The current national average 4 year rate is much lower at 0.57 percent.
The best 5 year rate is from EverBank at 1.74 percent with an APY of 1.75 percent. Barclays Bank is also offering a 5 year APY at 1.75 percent but Barclay's rate is at 1.73 percent. The difference in the rate is because of the way the banks compound interest on the account. Both banks have a rate and APY much higher than the national average rate of 0.74 percent.
You can search and compare many different CD rates at banks by using our interest rate lists here: CDRates.RatesORama.com.
RatesORama.com Average Mortgage Rates