Highest CD Rates/Average CD Rates April 04, 2012
CD rates and the highest CD rates available remain unchanged. While deposit rates have remained stable the past month, the same can't be said for long term bond yields. 10 year bond yields which were above 2.00 percent at 2.05 percent the second week of March have fallen to 1.78 percent today.
In the coming months we believe CD bank rates will remain pretty much where they are now. There will be slight declines or increases in weekly average rates but overall not much movement from where rates are now. The biggest impediment to higher CD rates and higher interest rates in general is the Federal Reserve. As long as the Fed keeps the fed funds rate near zero percent, all deposit rates will also remain low.
1 month CD rates at banks are averaging 0.06 percent in the FDIC National Rates and Rate Cap Survey for the week ending April 1, 2013. The best CD rates on our 1 month certificate of deposit rate list are from Lone Star Bank at 0.15 percent.
Average 3 month bank CD rates in the FDIC survey this week are averaging 0.09 percent. The best 3 month CD interest rates on our rate list are from EverBank at 0.46 percent, more than 5 times the national average.
6 month certificate of deposit rates are averaging 0.13 percent this week while the best 6 month rates in our rate database are at 0.88 percent from Doral Bank Direct. 12 month CD rates are averaging 0.22 percent this week and the highest 12 month rates in our database are at 1.04 percent with an APY of 1.05 percent. The lone bank offering that rate and yield is GE Capital Retail Bank.
Longer term CD rates these days don't pay much more than shorter term CD rates. Average 2 year CD rates are at 0.35 percent in this week's FDIC survey. The best 2 year rates in our database right now are from Home Savings Bank and GE Capital Retail Bank at 1.14 percent with an APY of 1.15 percent. As you can see, the best 2 year rates are only 10 basis points above the best 1 year rates right now.
3 year CD rates are averaging 0.48 percent and the best 3 year rates in our database are at 1.35 percent with an APY of 1.36 percent. The bank offering that rate and yield in our database is The National Republic Bank of Chicago. Moving onto 4 year rates, the average 4 year rate this week is at 0.59 percent and the best 4 year rate from Nationwide Bank is at 1.55 percent with an APY of 1.56 percent.
The national average 5 year CD rate this week is at 0.77 percent. The best 5 year rate in our database this week is more than double the national average rate. The best 5 year rate in our database is also from The National Republic Bank of Chicago at 1.85 percent with an APY of 1.87 percent. All of the banks listed in our rate database have deposits insured by the FDIC for up to the maximum amount allowed by law.
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