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CD Rates Move Higher This Week: Top 1 Year CD Rates at 1.07% APY - CD Rates - Search for CD Rates Today
 

CD Rates Move Higher This Week: Top 1 Year CD Rates at 1.07% APY

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CD rates moved slightly higher this week as some banks increased the rates they pay on both short term and long term certificates of deposit. The best CD rates on 1 year certificates of deposit are now at 1.06% with an APY of 1.07 percent. This is considerably higher than the FDIC's national average 1 year CD rate of 0.19 percent for the week ending May 5, 2014.

For the rest of 2014, we will see some banks increase their CD rates but overall rates won't move much higher this year. CD rates will stay low until the Federal Open Market Committee increases the fed funds rate. Forecasts are for the FOMC to increase the rate sometime in 2015.

Interest rates will start moving higher sometime over the next 12 to 18 months. Once rates start moving higher, they will continue to move up for at least a couple of years. You should stay invested in shorter term certificates of deposit so you can take advantage of higher rates when they do arrive.

Below are the best CD rates for May 9, 2014.

Best 3 Month CD Rates

  • AloStar Bank of Commerce CD Rates 0.45% APY 0.45%

  • Virtual Bank CD Rates 0.40% APY 0.40%

  • Barclays Bank CD Rates 0.35% APY 0.35%

  • Discover Bank CD Rates 0.35% APY 0.35%

  • First Internet Bank of Indiana CD Rates 0.35% APY 0.35%

  • Ally Bank CD Rates 0.30% APY 0.30%


Best 6 Month CD Rates

  • Zions Direct CD Rate 1.00% APY 1.00%

  • Doral Direct CD Rate 0.87% APY 0.87%

  • AloStar Bank of Commerce CD Rate 0.75% APY 0.75%

  • GE Capital Retail Bank CD Rate 0.70% APY 0.70%

  • First Internet Bank of Indiana CD Rates 0.70% APY 0.70%

  • EH National Bank CD Rates 0.70% APY 0.70%

  • My e-BAnC by BAC Florida Bank CD Rates 0.70% APY 0.70%


Best 1 Year Bank CD Rates

  • Virtual Bank CD Rate 1.06% APY 1.07%

  • GE Capital Retail Bank CD Rates 1.04% APY 1.05%

  • GE Capital Retail Bank Optimizer Plus CD Rates 1.04% APY 1.05%

  • Silvergate Bank Rate 1.01% APY 1.01%

  • My e-BAnC by BAC Florida Bank Rates 1.00% APY 1.01%

  • California First National Bank CD Rate 1.00% APY 1.00%

  • Colorado Federal Savings Bank Rates 1.00% APY 1.00%

  • Home Savings Bank Rate 1.00% APY 1.00%


Best 2 Year CD Rates

  • Virtual Bank CD Rate 1.25% APY 1.26%

  • Salem Five CD Rates 1.24% APY 1.25%

  • GE Capital Retail Bank CD Rates 1.19% APY 1.20%

  • GE Capital Retail Bank Optimizer Plus Rates 1.19% APY 1.20%

  • CIT Bank Rates 1.19% APY 1.20%

  • California First National Bank Rates 1.19% APY 1.20%

  • Silvergate Bank Rates 1.15% APY 1.16%


Best 3 Year Bank CD Rates

  • Intervest National Bank CD Interest Rates 1.44% APY 1.45%

  • Virtual Bank CD Rates 1.35% APY 1.36%

  • GE Capital Retail Bank Optimizer Plus Rate 1.34% APY 1.35%

  • Barclays Bank CD Rates 1.34% APY 1.35%

  • GE Capital Retail Bank Rate 1.29% APY 1.30%

  • AloStar Bank of Commerce CD Rate 1.29% APY 1.30%

  • California First National Bank CD Rate 1.29% APY 1.30%


Best 4 Year Rates

  • Virtual Bank Rate 1.77% APY 1.79%

  • Nationwide Bank CD Rate 1.73% APY 1.74%

  • Barclays Bank CD Rate 1.69% APY 1.70%

  • GE Capital Retail Bank CD Rate 1.64% APY 1.65%

  • ableBanking, a division of Northeast Bank 1.64% APY 1.65%

  • Discover Bank CD Rate 1.59% APY 1.60%

  • State Farm Bank Rates 1.59% APY 1.60%


Best 5 Year CD Rates

  • Virtual Bank CD Rate 2.28% APY 2.31%

  • GE Capital Retail Bank Optimizer Plus Rate 2.27% APY 2.30%

  • Barclays Bank CD Rate 2.23% APY 2.25%

  • iGObanking.com CD Rates 2.13% APY 2.15%

  • GE Capital Retail Bank CD Rates 2.08% APY 2.10%

  • State Farm Bank CD Rate 2.03% APY 2.05%


Author: Brian McKay
May 9th, 2014