The Best CD Rates Increase on Intermediate Term Certificates of Deposit
The best CD rates on intermediate term certificates of deposit increased again this week. Longer term CD rates were stagnant, which is surprising since banks are motivated to lock in deposits for longer terms at current low rates. Though the increases were small this week, at least the direction is higher and not lower, as it has been for many years.
We now have 7 banks and credit unions offering 1 year CD rates at or above 1.10 percent APY. This week we also have 18 banks offering 1 year CD rates at or above 1.00 percent. The highest 1 year CD rate this week is from Sallie Mae at 1.14 percent with an APY of 1.15 percent.
The highest 2 year CD rate is from Chartway Federal Credit Union at 1.50 percent with an APY of 1.50 percent. The best 2 year CD rate is from Nationwide Bank at 1.32 percent with an APY of 1.33 percent.
Below is a complete list of the highest certificate of deposit rates for November 10, 2014:
RatesORama.com Average Mortgage Rates