A New Top CD Rate on 1 Year Certificates of Deposit Increased to 1.10% APY
There is a new top CD rate on our 1 year certificate of deposit rate list this week as two banks increased their CD rates. GE Capital Retail Bank and EverBank are now offering 1 year CD rates at 1.09 percent with an APY of 1.10 percent. Last week the best 1 year CD rate was from VirtualBank at 1.06 percent with an APY of 1.07 percent.
The past few months we have seen more and more banks and credit unions increase CD rates. As of May 29, 2014, there are now eleven banks and credit unions offering 1 year CD rates at or above 1.00 percent. This time last year, there were only 5 banks and credit unions offering 1 year rates at least 1.00 percent.
In the most recent FDIC Weekly Rates and Rate Cap Survey, 1 year CD rates are averaging 0.20 percent. 1 year jumbo CD rates are only slightly higher at 0.21 percent, still well below the highest rates available.
Highest CD Rates on 1 Year Certificates of Deposit
RatesORama.com Average Mortgage Rates