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New Year 2013 CD Rates

New Year 2013 CD Rates

The 2013 New Year brings us hope CD rates will move higher from the record breaking pathetic low bank CD rates of the past several years. The fiscal cliff is being dealt with by both policial parties and a slew of strong economic news points to higher CD rates in the coming years. On the other side keeping the best CD rates low is the Federal Reserve's policy of keeping the Federal Funds rate in a targeted range of zero percent to one quarter percent.

Granted even if rates on interest bearing assets like certificates of deposit, savings accounts and money market accounts move higher in 2013 the increase won't be much. Current 12 month bank CD rates are averaging 0.23 percent in the FDIC rate survey for the week that ended on December 31, 2012.

The highest CD rates on 1 year certificates of deposit on our rate list are many times the FDIC average. This week's highest 12 month CD interest rate is at 1.04 percent with an APY of 1.05 percent. We have several banks offering 12 month certificate of deposit rates at 1.04 percent this week. Below is a list of the best 12 month rates for the first week of 2013.

Best CD Rates 12 Month CD Accounts

  1. CIT Bank CD Rates 1.04% APY 1.05%

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

  3. MetLife Bank CD Rates 1.04% APY 1.05%

  4.  ableBanking CD Rates 1.04% APY 1.05%

  5. E-Loan CD Rates 1.02% APY 1.02%

  6. Discover Bank CD Rates 1.00% APY 1.00%

  7. Ally Bank CD Rates 0.99% APY 0.99%

  8. Doral Bank CD Rates 0.98% APY 098%

  9. GiantBank.com CD Rates 0.98% APY 0.98%

  10. California First National Bank CD Rates 0.95% APY 0.95%

Some of the recent stronger than expected employment data released includes this morning's private-sector job growth which showed companies hired considerably more people in December than economists expected. Automatic Data Processing and Moody's Analytics, showed 215,000 jobs were added, well exceeding expectations of a 150,000 increase. Very strong economic data and higher inflation is the only hope for higher interest rates before mid-2015.

Author: Monica Harris
January 3rd, 2013