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Best CD Rates Available This Week, July 16, 2012
 

Best CD Rates Available This Week, July 16, 2012

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CD rates continue to fall weekly making already dismal returns even worse. The FDIC's current national average 12 month CD rate is at 0.28 percent. 12 month jumbo deposits are not much better averaging 0.29 percent. Thankfully there are CD rates higher than the averages and we will list the best CD rates available this week below.

Right now one of the highest CD rates available at any bank is from Doral Bank. CD rates at Doral Bank for 12 month certificates of deposit are at 1.14 percent with an APY of 1.15 percent. That rate is almost 4 times the FDIC national average rate. Doral Bank's CD rate is also higher than the FDIC's national average rate cap of 1.03 percent.

Another CD rate on our rate list that is considerably higher than the pathetic national average rate is from CIT Bank. Bank CD rates at CIT Bank on 1 year certificates of deposit are at 1.05 percent with an APY of 1.06 percent. CIT Bank CD rates for account balances of $25,000 or more are a little better at 1.09 percent with an APY of 1.10 percent.

Ally Bank, which has become a big national bank with deposits growing by a good clip each month is also offering 1 year CD interest rates well above the national averages. Ally Bank CD rates on 1 year certificates of deposit are at 1.01 percent with an APY of 1.02 percent.

The best CD rates listed above are only a small sampling of bank interest CD rates on our lists. You can find the highest CD rates on many CD terms, including short term CDs and long term CDs.

To give you another example Discover Bank CD rates on 5 year certificates of deposit are listed on our website at 1.73 percent with an APY of 1.75 percent. Believe it or not that is one of the top rates around for a 5 year certificate of deposit.

Author: Robert Till
July 16th, 2012