Best Certificate of Deposit Rates February 5, 2015
Certificate of deposit rates continue to move higher this year. The increase in rates are small but will accelerate later in 2015 once the Federal Open Market Committee increases the federal funds rate.
This week we have a new high 1 year CD rate from Synchrony Bank. The bank recently increased their 1 year CD rate from 1.14 percent with an APY of 1.15 percent to 1.19 percent with an APY of 1.20 percent. The highest 1 year CD rate from a credit union remains at 1.30 percent with an APY of 1.30 percent from Connexus Credit Union.
Synchrony Bank also increased their 2 year CD rates to 1.34 percent with an APY of 1.35 percent. Synchrony is now tied with CIT Bank for the best 2 year rate on our list. The best 2 year rate from a credit union is at 1.20 percent with an APY of 1.21 percent from Heritage West Credit Union. Listed below are the best certificate of deposit rates for February 5, 2015.