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Current Certificate of Deposit Rates - Best 1 Year CD Rate at 1.30%
 

Current Certificate of Deposit Rates – Best 1 Year CD Rate at 1.30%

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The highest certificate of deposit rates available remain unchanged this week. CD rates will more than likely increase in the second quarter of this year. Higher CD rates will be welcome news after more than 9 years of banks lowering rates.

Exactly when interest rates move higher depends on the Federal Open Market Committee (FOMC) increasing rates. The FOMC usually increases their key-benchmark interest rate, the federal funds, during the regularly scheduled meetings. The FOMC is scheduled to meet in April and then again in June.

An increase won't come in the April meeting and will likely happen in the June meeting. Regardless of when the Fed increases the rates, there is a 100 percent certainty that the increase will be 25 basis points. The current rate is in a targeted range of zero percent to 0.25 percent.

The new rate will be 0.50 percent which will send both short term and long term CD rates higher. The fed funds rate at 0.50 percent will send the best 6 month rates above 1.00 percent.  1 year CD rates will be just above 1.50 percent and 2 year rates will move towards 1.75 percent.

Current Best CD Rates April 1, 2015


6 Month Rates

  • Zions Direct 1.00% APY 1.00%

  • California First National Bank 0.85% APY 0.85%

  • Chartway Federal Credit Union 0.85% APY 0.85%

  • EH National Bank 0.80% APY 0.80%

  • My e-BAnC by BAC Florida Bank 0.80% APY 0.80%


1 Year Rates

  • Chartway Federal Credit Union 1.30% APY 1.31%

  • Connexus Credit Union 1.30% APY 1.30%

  • Lone Star Bank 1.24% APY 1.25%

  • Synchrony Bank 1.22% APY 1.23%

  • BankDirect 1.20% APY 1.21%

  • CIT Bank 1.19% APY 1.20%

  • Congressional Bank 1.19% APY 1.20%


2 Year Rates

  • CIT Bank 1.34% APY 1.35%

  • Synchrony Bank 1.34% APY 1.35%

  • Barclays Bank 1.34% APY 1.35%

  • Congressional Bank 1.34% APY 1.35%

  • My e-BAnC by BAC Florida Bank 1.30% APY 1.31%


3 Year Rates

  • Synchrony Bank 1.49% APY 1.50%

  • First Internet Bank of Indiana 1.45% APY 1.46%

  • Barclays Bank 1.44% APY 1.45%

  • GE Capital Bank 1.44% APY 1.45%

  • Discover Bank 1.44% APY 1.45%


4 Year Rates

  • Nationwide 1.88% APY 1.90% APY

  • CIT Bank 1.85% APY 1.87%

  • Barclays Bank 1.83% APY 1.85%

  • Synchrony Bank 1.73% APY 1.75%


5 Year Rates

  • Synchrony Bank 2.23% APY 2.25%

  • Barclays 2.23% APY 2.25%

  • GE Capital Bank 2.23% APY 2.25%

  • Home Savings Bank 2.13% APY 2.15%


 
Author: Brian McKay
April 7th, 2015