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Finding Decent Deposit Rates These Days

Finding Decent Deposit Rates These Days

Deposit account rates, like savings account rates and certificate of deposit rates are so low these days finding a decent rate isn't easy. The national average 12 month CD interest rate is less than 0.75 percent and most national banks are offering 12 month rates at less than 1.00 percent.

There are some banks and credit unions that offer higher CD rates but you'll have to search to find financial institutions offering better rates. RatesORama.com offers a list of CD rates for several different CD account terms. From 3 months to 7 year CD accounts we have reviews of banks and credit unions and the interest rates they are offering.

If you're new to certificate of deposit investing the rate financial institutions offer can vary greatly so pays to shop around. Just like you would comparison shop for any item you purchase you should do the same for your investments.

The longer the certificate of deposit term the higher the rate and annual percentage yield (APY) will be. So when you're searching make sure to compare the same CD terms.

Author: Stacy Everest
April 29th, 2011