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Short Term CDs, Best Place to Invest Before Rates Move Higher
 

Short Term CDs, Best Place to Stash Cash Right Now

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If you have money in certificates of deposit the best place to be is in short term CDs. The reason being, interest rates are moving higher very soon. The best overall CD deal on our rate list is still on MyCBB Bank's 2 month CD. The bank's current 2 month CD rate is at 0.80 percent.

Interest rates might move higher as soon as next month when the Federal Open Market Committee meets. Saying invested in a 2 month CD at 0.80 percent is a good move, that way you can roll over the CD into a new higher rate.

Some banks are already increasing CD rates. The largest increase on our rate list this week is on EverBank's 3 month CD. The bank's 3 month rate was increased from 0.35 percent to 0.55 percent. A 0.20 percent increase, which is 0.57 percent higher than the old rate.

Listed below are the best CD rates for CD terms of 2 months to 1 year.

Best 2 Month Rates

  • MyCBB Rate 0.80% APY 0.80%

  • E-Loan Rate 0.16% APY 0.16%

  • Loan Star Bank Rate 0.15% APY 0.15%

  • Virtual Bank Rate 0.15% APY 0.15%


Best 3 Month Rates

  • EverBank 0.55% APY 0.55% (up 0.20%)

  • California First National Bank 055% APY 0.55%

  • First Internet Bank of Indiana 0.45% APY 0.45%

  • AloStar Bank of Commerce 0.40% APY 0.40%

  • Goldwater Bank 0.40% APY 0.40%

  • Virtual Bank 0.40% APY 0.40%

  • Discover Bank 0.35% APY 0.35%

  • Nordstrom Bank 0.35% APY 0.35%


Best 6 Month Rates

  • California First National Bank 0.85% APY 0.85%

  • MyCBB 0.85% APY 0.85%

  • EH National Bank 0.80% APY 0.80%

  • My e-BAnC by BAC Florida Bank 0.80% APY 0.80%

  • AloStar Bank of Commerce 0.80% APY 0.80%

  • ableBanking, a division of Northeast Bank 0.80% APY 0.80%

  • Silvergate Bank 0.75% APY 0.75%

  • Chartway Federal Credit Union 0.75% APY 0.75%


Best 9 Month Rates

  • New Dominion Bank 0.89% APY 0.90%

  • AloStar Bank of Commerce 0.80% APY 0.80%

  • giantbank.com 0.70% APY 0.70%

  • Discover Bank 0.70% APY 0.70%

  • GE Capital Bank 0.70% APY 0.70%

  • Virtual Bank 0.70% APY 0.70%


Best 1 Year Rates

  • E-Loan 1.29% APY 1.30% (up 0.05%)

  • CIT Bank 1.24% APY 1.25%

  • Synchrony Bank 1.24% APY 1.25%

  • Sallie Mae Bank 1.24% APY 1.25%

  • Bank Direct 1.20% APY 1.21%

  • AloStar Bank of Commerce 1.20% APY 1.21%

  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%

  • Colorado Federal Savings Bank 1.19% APY 1.20%

  • Home Savings Bank 1.19% APY 1.20%


Search and compare bank CD rates from many banks on our rate lists at RatesORama.com
Author: Brian McKay
August 14th, 2015