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New Leader on Our 12 Month Bank CD Rates: Best CD Rate at 1.11 Percent Now
 

New Leader on Our 12 Month Bank CD Rates: Best CD Rate at 1.11 Percent Now

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Most bank CD rates are being lowered month after month but once in a while we get a surprise when we find a bank increasing CD rates. AloStar Bank of Commerce which had 12 month CD rates in the top 10 of our 12 month rates list now is the leader. CD interest rates at AlsoStar Bank of Commerce were at 1.00 percent with an APY of 1.00 percent, now rates have been raised to 1.10 percent with an APY of 1.11 percent. AloStar Bank now tops our best CD rates list for 12 month certificates of deposit.

CIT Bank CD rates which used to be the highest CD rate on our list are now in second place. Current CIT Bank CD rates are at 1.09 percent with an APY of 1.10 percent. 12 month CD rates at banks are averaging consideribly less than AloStar Bank and CIT Bank's CD rates.

The current national average 1 year CD rate in the FDIC's average rate survey this week are at 0.26 percent. Jumbo CD rates on 1 year bank certificates of deposit are not much higher at 0.28 percent. Average CD rates are so incredibly low right now even 5 year CD rates are averaging less than the rate CIT Bank and AloStar are paying right now. The current national average 5 year CD rate is at 0.97 percent and 5 year jumbo CD rates are at 0.98 percent.

The third best CD rate on our 12 month rate list this week is from two different banks and still well above the FDIC national average. MetLife Bank and Colorado Federal Savings Bank are both offering 1 year CD bank rates at 1.04 percent with an APY of 1.05 percent. Below is a list of the top 15 CD rates right now on 12 month certificates of deposit.

Top 15 CD Rates



  1. AloStar Bank of Commerce 1.10% APY 1.11%

  2. CIT Bank CD Rates 1.09% APY 1.10%

  3. MetLife Bank CD Rates 1.04% APY 1.05%

  4. Colorado Federal Savings Bank CD Rates 1.04% APY 1.05%

  5. Ally Bank CD Rates 1.03% APY 1.04%

  6. EH National Bank CD Rates 1.02% APY 1.02%

  7. Doral Bank CD Rates 1.01% APY 1.01%

  8. ableBanking CD Rates 1.00% APY 1.00%

  9. Dicover Bank CD Rates 0.90% APY 0.90%

  10. AIG Bank CD Rates 0.90% APY 0.90%

  11.  Barclays Bank CD Rates 0.90% APY 0.90%

  12. E-Loan CD Rates 0.90% APY 0.90%

  13. Virtual Bank CD Rates 0.90% APY 0.90%

  14. Pacific Mercantile Bank CD Rates 0.90% APY 0.90%

  15. USAA Bank CD Rates 0.86% APY 0.86%


All the CD bank rates listed above are more than 3 times the current national average rate. Historicall speaking, the rates listed above are low but at least your money is 100% and quaranteed by the

Author: Monica Harris
September 10th, 2012