CD Rates | Search for CD Rates Today

Capital One CD RatesCapital One CD rates are still some of the highest CD rates available from any online bank and there is no minimum deposit to open a CD account at Capital One. Current 1 year CD rates from Capital One are at 2.37%. 18 month CD rates at Capital One are currently at 2.52 percent with an APY of 2.55 percent. 24 month and 30 month CD rates are at 2.18 percent with an APY of 2.20 percent. 36 month and 48 month CD rates are at 2.22 percent with an APY of 2.25 percent. 60 month CD rates are at 2.27 percent with an APY of 2.30 percent.

Author: Brian McKay
September 8th, 2019

TIAA Bank CD Rate Promotion 2.71 - 1 Year CD 2.85 2 Year CD Rate IncreasedTIAA Bank CD rates were recently lowered but are still some of the highest CD rates currently available from any bank. 1 year CD rates at TIAA Bank were lowered slightly to 2.70 percent with an APY of 2.74 percent, down from 2.71 percent with an APY of 2.75 percent. There were a slew of other CD rate changes at TIAA Bank. In fact, all CD rate changes at TIAA Bank were lower except for 2 year rates which were increased. 2 year CD rates were increased from 2.79 percent with an APY of 2.83 percent to 2.81 percent with an APY of 2.85 percent.

TIAA Bank CD Rate Changes

  • 1 Year CD lowered 1 bps to 2.74 percent
  • 18 Month CD lowered 2 bps to 2.77 percent
  • 2 Year CD increased 2 bps to 2.86 percent
  • 30 Month CD lowered 2 bps to 2.64 percent
  • 2 Year CD increased 2 bps to 2.87 percent

TIAA Bank Jumbo CD Rate Changes

  • 1 year jumbo CD lowered 1 bps to 2.74 percent
  • 18 month jumbo CD lowered 2 bps to 2.77 percent
  • 2 year jumbo CD increased 2 bps to 2.86 percent
  • 30 month jumbo CD lowered 2 bps to 2.64 percent
  • 2 year jumbo CD increased 2 bps to 2.87 percent

See how other CD rates at banks compare to TIAA Bank CD Rates.

Author: Brian McKay
March 3rd, 2019

Popular Direct Ups 6 Month CD Rate TodayPopular Direct which already has some of the best CD rates available for several CD terms has upped their 6 month CD rate. 6 month CD rates today at Popular Direct were increased to 2.46 percent with an APY of 2.49 percent. The old 6 month CD rate from Popular Direct was at 2.32 percent with an APY of 2.35 percent. Popular Direct now has the highest CD rate on our 6 month rate list. See how other bank CD rates below compare to Popular Direct CD rates to get the best rate today.

Author: Brian McKay
January 10th, 2019

North American Savings Bank CD RatesNorth American Savings Bank CD rates are some of the highest CD rates available from any bank right now. 12 month CD rates from North American Savings Bank are currently at 2.70 percent with an APY of 2.74 percent. 24 month CD rates at NASB are higher at 2.90 percent with an APY of 2.94 percent. 36 month CD rates from NASB are even better at 3.00 percent with an APY of 3.05 percent. See how NASB CD rates compare with other CD rates at banks to get the best deal today.

Author: Brian McKay
January 1st, 2019

First IB CD RatesFirst Internet Bank CD rates were increased across the board last night and are some of the highest CD rates available online. The highest CD rates increases from First IB were on the bank’s 6 month CDs which were increased by 0.21 percent to 2.48 percent. 1 year CD rates from FIB were increased from 2.73 percent to 2.89 percent. 2 year CD rates from FIB were increased from 2.94 percent to 3.11 percent. 3 year CD rates from FIB were increased from 3.04 percent to 3.17 percent. 5 year CD rates from FIB were increased from 3.35 percent to 3.40 percent. Compare FIB CD rates with other bank CD rates to get the best deal today.

Author: Brian McKay
December 27th, 2018

Mercantil Bank Upped Online CD RatesMercantil Bank CD rates for the bank’s online CDs were recently increased and are now some of the best CD rates around. Current 18 month CD rates from Mercantil Bank are at 2.59 percent. 48 month CD rates from Mercantil Bank are now at 3.11 percent. 60 month CD rates from Mercantil Bank were increased to a whopping 3.50 percent. See how Mercantil Bank CD rates compare with other CD rates to get the best deal today.

Author: Brian McKay
December 22nd, 2018

Popular Direct CD Rates Increased OvernightPopular Direct CD rates which were already some of the best CD rates available were increased last night. 5 year CD rates were increased 10 basis points from 3.45 percent with an APY of 3.50 percent to 3.55 percent to 3.60 percent. 60 month CD rates from Popular Direct are now the highest CD rates available for a 60 month CD. 1 year CD rates at Popular Direct 2.81 percent with an APY of 2.85 percent. The minimum opening deposit for a CD at Popular Direct is $10,000. To get the best CD rate compare other bank CD rates with Popular Direct CD rates.

Author: Brian McKay
December 18th, 2018

PurePoint Financial CD Rates - High Rate Heads UpPurePoint Financial CD rates were increased recently and are now some of the highest CD rates available. Today’s 1 year CD rates at PurePoint Financial are at 2.76 percent with an APY of 2.80 percent. 30 month CD rates from PurePoint Financial are higher at 2.86 percent with an APY of 2.90 percent, now that’s a high rate. See how PurePoint Financial CD Rates currently compare with other online CD rates to get the best rate.

Author: Brian McKay
December 13th, 2018

Best CD Rates in California - CA CD RatesThe best CD rates in California just got even better today thanks to recent increases in California CD rates. California best CD rates on 12 month certificates of deposit are at 2.82 percent with an APY of 2.86 percent. The best CA CD rates on 24 month CD accounts are at 3.01 percent with an APY of 3.05 percent. You can search for and compare the best CD rates in California below.

Author: Brian McKay
December 9th, 2018

Merrick Bank CD Rates - Best RateMerrick Bank CD Rates are top notch right now and are some of the best CD rates currently available these days. 1 year CD rates at Merrick Bank are at 2.72 percent with an APY of 2.76 percent. The minimum deposit to earn this CD rate from Merrick Bank is rather high at $25,000. If you don’t have $25k to open an account with you can compare Merrick Bank CD Rates with other rates below.

Author: Brian McKay
December 5th, 2018

Barclays Best CD RatesBarclays best CD rates are truly some of the best rates currently available from any bank. 12 month CD rates at Barclays are at 2.52 percent with an APY of 2.55 percent. 48 month CD rates from Barclays are at 2.71 percent with an APY of 2.75 percent. Compare Barclays best CD rates with other rates at banks to get the best rate.

Author: Brian McKay
December 1st, 2018

Bangor Savings Bank CD RatesBangor Savings Bank CD rates are competitive for terms ranging between 3 months and 60 months. Current 3 month CD rates at Bangor Savings Bank are at 1.10 percent with a yield of 1.11 percent. 6 month CD rates at Bangor Savings Bank are at 1.15 percent with a yield of 1.16 percent. These CD rates from Bangor Savings Bank are for Benefit Plus Customers. You can compare Bangor Savings Bank CD rates with other bank’s rates to find the best CD rates.

Author: Brian McKay
November 27th, 2018

Marcus by Goldman Sachs CD ratesMarcus by Goldman Sachs CD rates are currently one of the best CD rates available today. 1 year CD rates at Marcus by Goldman Sachs are at 2.55 percent.9 month CD rates from Marcus by Goldman Sachs CD rates are also good at 0.70 percent with a yield of 0.70 percent. Compare Marcus by Goldman Sachs CD rates with other CD rates at banks to get the top CD rate.

Author: Brian McKay
November 19th, 2018

Citizens Access CD RatesCitizens Access CD rates on 12 month certificates of deposit are currently at 2.70 percent. This is one of the best CD rates available for a 12 month rate, if not the best CD rate currently available. Citizens Access Bank has a minimum opening deposit of $5,000 for this CD account. You can see how this 12 month CD rate at Citizens Access compare to other bank CD rates.

Author: Brian McKay
November 17th, 2018

CD rates at banks continued the upward trajectory this month as banks increased rates again. For the past two years, financial institutions are increasing CD rates because the Federal Open Market Committee is increasing the fed funds rate. 

This current round of monetary tightening started back in December 2015 when the Fed increased the rate .25 percent. The Fed kept the rate at a record low range of zero percent to 0.25 percent for several years. The financial crisis and Great Recession almost a decade ago forced the Fed to lower the rate to near zero percent. 

The current fed funds rate is in a range of 1.25 percent to 1.5o percent. You can view a chart of the fed funds rate going back to 1955 at the Federal Reserve Bank of St. Louis.

CD Rates at Banks Increased This MonthSince December 2015, CD rates at banks also moved higher. Back then the best CD rates on 1 year certificates of deposit were around 1.05 percent. Since then, the best 1 year CD rates have doubled and are currently at 2.10 percent. 

The expected uptrend for CD rates and for deposit rates in general is higher for the rest of 2018 and into 2019. The Fed is expected to increase the fed funds rate at least twice this year and maybe more. The Fed usually increases the rate in 25 basis point increments.

If the Fed falls behind the inflation curve we could see more than two rate hikes. In addition, we could see hikes in 50 basis point increments. Regardless of how many times the rate is increased by the Fed, the rate is moving higher. 

This is good news for depositors who are finally getting relief from historically low interest rates. You can see a list of current CD rate changes from banks and credit unions listed below. 

CD Rates at Banks

Financial Institution CD Product Yield (New / Old)
Presidential Bank, FSB 1 yr CD 1 / 0.95
Presidential Bank, FSB 2 yr CD 1.16 / 1.1
Presidential Bank, FSB 3 yr CD 1.31 / 1.23
Presidential Bank, FSB 5 yr CD 1.61 / 1.53
Goldman Sachs Bank USA 1 yr CD 2.05 / 1.8
Goldman Sachs Bank USA 2 yr CD 2.15 / 1.9
Goldman Sachs Bank USA 3 yr CD 2.25 / 2
Goldman Sachs Bank USA 5 yr CD 2.6 / 2.5
Goldman Sachs Bank USA 18 month CD 2.1 / 1.85
Goldman Sachs Bank USA 4 yr CD 2.3 / 2.1
Sandia Area Federal Credit Union 6 month CD 0.7 / 0.65
Sandia Area Federal Credit Union 1 yr CD 1.05 / 0.8
Sandia Area Federal Credit Union 2 yr CD 1.45 / 1.35
Sandia Area Federal Credit Union 3 yr CD 1.8 / 1.6
Sandia Area Federal Credit Union 4 yr CD 2 / 1.85
Limelight Bank 1 yr CD 2.02 / 1.96
Luana Savings Bank 9 month CD 1.75 / 1.7
Luana Savings Bank 9 month jumbo CD 1.75 / 1.7
Nationwide Bank 6 month CD 1.5 / 1.2
Nationwide Bank 2 yr CD 2.1 / 1.9
Nationwide Bank 6 month jumbo CD 1.55 / 1.25
Nationwide Bank 2 yr jumbo CD 2.15 / 1.95
Northern Bank Direct 1 yr CD 1.5 / 1.06
Northern Bank Direct 2 yr CD 1.75 / 2.26
Northern Bank Direct 3 yr CD 2.55 / 1.35
Northern Bank Direct 5 yr CD 2.57 / 1.65
Northern Bank Direct 4 yr CD 2.56 / 2.51
VirtualBank 5 yr CD 2.65 / 2.58
VirtualBank 5 yr jumbo CD 2.65 / 2.58
Synchrony Bank 1 yr CD 1.95 / 1.85
Synchrony Bank 1 yr jumbo CD 1.95 / 1.85
M.Y. Safra Bank, FSB 5 yr CD 2.66 / 2.6
M.Y. Safra Bank, FSB 5 yr jumbo CD 2.66 / 2.6

 

Author: Brian McKay
February 23rd, 2018

CD rates are moving higher these days and you can get a better yielding certificate of deposit from an online bank. Internet banks offer much better CD rates than traditional brick and mortar banks. This is especially true these days because online banks are increasing CD rates while big traditional banks keep CD rates at low pathetic levels. For example, a 1 year CD rate at BankDirect is now at 1.60 percent. Chase Bank 12 month CD rates are currently at 0.02 percent. By the way, I had to dig through Chase’s website to find the current 12 month CD rate. Chase’s rate is so low they are probably embarrassed which is probably why the rate is buried.

Best CD Rates AvailableThis list of CD rates below is updated daily. Interest rates will move higher in 2017 and in 2018. Many banks in this report will continue to increase their rates in the months ahead to stay competitive with the best rates available.  Listed below are CD accounts with the current best CD rates:

CD Rates – Updated December 2017

1 Year CD: Ally Bank – 2.00% APY

Minimum Deposit $0

Ally Bank  is offering a 1 year CD rate at 1.98 percent with a yield of 2.00 percent. There is no minimum deposit for this CD Account. Ally Bank has the best yielding 1 year CD account available right now. Learn Moore.

First Internet Bank – 3 to 60 Month CD

Minimum Deposit of $1,000

A 3 month CD yield at 1.11% is better than many 12 month CD rates available these days. As the name would suggest, First Internet Bank of Indiana is based in Indiana. Founded in 1999, First IB is one of first banks to be exclusively online, there are no branch locations. First IB serves all 50 states. The rest of First IB’s rates are better than most rates available we decided to list all their rates: Learn Moore.

  • 3 Month 1.11% APY
  • 6 Month 1.43% APY
  • 12 Month 1.76% APY
  • 18 Month 1.81% APY
  • 24 Month 1.92% APY
  • 36 Month 2.07% APY
  • 48 Month 2.20% APY
  • 60 Month 2.43% APY

 1 Year CD at Popular Direct 1.60%

Minimum Deposit $10,000

Many traditional brick and mortar banks have online banking divisions. Popular Direct is the online bank of Banco Popular North America, a New York state chartered bank. All deposits with BPNA (including deposits through Popular Direct deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. This last point is important, since Popular Direct’s deposits are insured under the BPNA FDIC umbrella be sure to stay under the maximum amount so your deposits are fully insured. Learn Moore.

1 Year CD from Connexus Credit Union at 1.00% APY

Minimum Deposit $5,000

The 1 year CD rate at Connexus Credit Union is currently at 1.00 percent with an APY of 1.00 percent. Deposits at credit unions are insured by the National Credit Union Administration for up to $250,000.

Sallie Mae 1 year CD at 1.72% APY

Minimum Deposit is $2,500

The banking division of the student loan company Sallie Mae is offering 1 year CD at 1.71 percent with a yield of 1.72 percent. Sallie Mae partially funds loans to students by collecting deposits from their online bank. Learn Moore.

18 Month CD – 1.70% APY Popular Direct

Minimum Deposit $10,000

The Internet Bank Popular Direct also tops our 18 month certificate of deposit rate list. Interest compounds daily on this 18 month CD and all CDs at Popular Direct. 

iGOBanking.com 2 Year CD – 2.10% APY

Minimum Deposit $1,000

Last month I mentioned it was nice to see 2 year CD rates at 2.00 percent, now we one bank offering 1 year CD rates at 2.00 percent. Just a few years ago, the best 5 year CD rates were at 2.00 percent. iGoBanking.com tops our 2 year rate list with a yield of 2.10 percent.

Popular Direct 3 Year CD – 2.15% APY

Minimum Deposit $10,000

Popular Direct has the best 3 year CD rate on our list. The bank is offering 3 year CD rates at 3.12 percent and the yields at 2.15 percent. The minimum depot for a 3 year CD account is also $10,000.

4 Year CD – 2.15% APY – M.Y. Safra Bank, FSB and Northern Bank Direct

Minimum Deposit $5,000 – M.Y. Safra Bank

Minimum Deposit $500 – Northern Bank Direct 

M.Y. Safra Bank, FSB and Northern Bank Direct are both offering 4 year CD rates at 2.15% APY. M.Y. Safra Bank’s minimum opening deposit is $5,000 while Northern Bank Direct minimum is $500. 

Capital One 5 Year CD – 2.45% APY

Minimum Deposit $0

Capital One has the best 5 year CD rate right now at 2.42 percent with an APY of 2.45 percent. There is no minimum deposit to open a CD account at Capital One. Learn Moore.

Opening a CD Account Online

Online banking has come a long way the past 20 years. Opening a certificate of deposit online is very quick, easy and secure. These days it is much more of a hassle to go to a traditional bank to open a CD account. Also why would you when you get better rates with online banks?

In addition, funding a CD account at opening is also easy because most Internet banks these days allow electronic transfers into the account. Setting up these transfers is therefore quick and painless. Online banks also give you a certain amount of time to fund the CD account after you opening it.

Author: Brian McKay
July 13th, 2017

CD rates have slowly inched higher for the past year and we recently reach a point for 1 year CD rates, which we haven’t seen for about a half dozen years. We can thank the Federal Reserve for higher CD rates and we can also thank the Fed for 1.50 percent 1 year CD rates. 

That’s right, the best 1 year CD rate available on our rate list has hit the 1.50 percent milestone, a level we haven’t seen since 2011. The outlook for CD rates in 2017 and beyond is also promising because the Fed is expected to continue increasing the Fed funds rate. 

Last month, the Fed increased the federal funds rate 0.25 percent to a targeted range of 0.75 percent to 1.00 percent. This is on top of the 0.25 percent increase we saw in December 2016. The Fed also mentioned the likelihood of at least two more rate increases in 2017.  

Two more fed funds rate increases in 2017 would put the fed funds rate at 1.50 percent. This would send the best 1 year CD rates towards 2.00 percent. The last time we saw 1 year CD rates at or above 2.00 percent was just after the financial crisis nearly 10 years ago. 

Author: Brian McKay
April 25th, 2017

Banks and credit unions are starting to increase short term CD rates. Could it be in anticipation of the Federal Open Market Committee increasing the fed funds rate in December? Probably. Regardless, higher CD rates are welcome news and we do hope the trend continues into 2107.

The best 1 year CD rate on our rate list had been around 1.30 percent for the past several months. This past week Pentagon Federal Credit Union increased their 1 year CD rate to 1.35 percent with a yield of 1.36 percent. 

I recall a couple years ago the highest 1 year CD rate was at 1.05 percent. Now 1 year CD rates are closing in on 1.5o percent, a rate we haven’t seen in many years.

The Fed is scheduled to meet on December 13 and 14th and is widely expected to increase the fed funds rate by 25 basis points. In fact, the CME Group’s FedWatch Tool has the probability of a 25 basis point hike at 92.7 percent.

Whether or not any banks or credit unions increase their rates remains to be seen but we expect the uptrend in CD rates to continue. Listed below are the top ten 1 year CD rates on our rate list.

Top Ten 1 Year CD Rates

  • PenFed 1.35% APY 1.36%
  • VirtualBank 1.30% APY 1.31%
  • Connexus Credit Union 1.29% APY 1.30%
  • My e-BAnC by BAC Florida Bank 1.28% APY 1.29%
  • Pacific National Bank 1.25% APY 1.26%
  • Synchrony Bank 1.24% APY 1.25% (tied for 6th place)
  • CapitalOne 1.24% APY 1.25% (tied for 6th place)
  • Colorado Federal Savings Bank 1.24% APY 1.25% (tied for 6th place)
  • TAB Bank 1.24% APY 1.25% (tied for 6th place)
  • CIT Bank 1.21% APY 1.22% (tied for 7th place)
  • BankDirect 1.21% APY 1.22% (tied for 7th place)
  • EverBank 1.20% APY 1.21%
  • Goldman Sachs Bank USA 1.19% APY 1.20% (tied for 9th place)
  • Barclays Bank 1.19% APY 1.20% (tied for 9th place)
  • California First National Bank 1.17% APY 1.18%

You can search our rate lists for the highest CD rates for many different certificates of deposit terms at RatesORama.com.

 

Author: Brian McKay
December 4th, 2016

Luana Savings Bank recently increased CD rates on their short term and 5 year certificates of deposit. Listed below are the recent CD rate increases from Luana Savings Bank.

Advertiser Product Rate (new / old) Yield (new / old)
Luana Savings Bank 6 month CD 0.5 / 0.45 0.5 / 0.45
Luana Savings Bank 5 yr CD 1.4 / 1.35 1.41 / 1.36
Luana Savings Bank 6 month jumbo CD 0.65 / 0.6 0.65 / 0.6
Luana Savings Bank 1 yr jumbo CD 0.8 / 0.75 0.8 / 0.75
Luana Savings Bank 5 yr jumbo CD 1.55 / 1.5 1.56 / 1.51
Luana Savings Bank 6 month $25K CD 0.55 / 0.5 0.55 / 0.5
Luana Savings Bank 6 month $50K CD 0.6 / 0.55 0.6 / 0.55

You can compare these new CD rates from Luana Savings Bank with other bank CD rates by searching our rate lists for the Best CD Rates.

 

Author: Brian McKay
November 16th, 2016

East Boston Savings Bank Direct, the online banking division of East Boston Savings Bank (EBSB), is offering a couple of very competitive online CD rates. As with any bank these days, online CD rates are usually higher than the traditional brick and mortar CD rates.

If you don’t live in the Boston area, it’s likely you haven’t heard about EBSB though the bank dates back to 1848. EBSB operates 31 bank branches in the greater Boston area. Deposits at both EBSB and EBSB Direct are insured by the FDIC for up to $250,000 per account.

The bank is also part of Deposit Insurance Fund of Massachusetts (DIF). The DIF is an industry sponsored deposit insurance fund that insures all deposits above (FDIC) limits at Massachusetts-chartered savings banks. To read more about the DIF, see their website Deposit Insurance Fund of Massachusetts.

EBSB Direct is currently offering a 16 month CD rate at 1.40 percent with a yield of 1.41 percent. The bank is also offering a 25 month CD rate a 1.40 percent with a yield of 1.41 percent but with this CD account you get to “bump the rate up.” These type of CD accounts allow the depositor increase the CD rate if CD rates increase during the term.

You can see how these EBSB Direct CD rates compare with EBSB CD rates.

Author: Brian McKay
October 12th, 2016

Capital One 360 Bank, the online banking division of the credit card company Capital One, has lowered their short-term CD rates. Capital One 360 Bank CD rates on 6 month and 9 month certificates of deposit were lowered the most at 0.50 percent.

Regular and jumbo 6 month CD rates at Capital One 360 Bank were at 0.90 percent, the third best 6 month rate on our list. The new 6 CD rate of 0.40 percent drops Capital One 360 Bank down on our rate list to 18th place.

9 month regular and jumbo CD rates were also dropped from 0.90 percent to 0.40 percent. Capital One 360 Bank had the second top 9 month rate on our list and now places 7th on the list.

1 year regular and jumbo CD rates were not lowered as much – rates were only lowered 15 basis points.  1 year regular and jumbo CD rates were lowered from 0.90 percent to 0.75 percent. Capital One 360 Bank’s current CD rates are listed below.

Current CD Rates at Capital One 360 Bank

Term APY
6 Month CD 0.40%
9 Month CD 0.40%
12 Month CD 0.75%
18 Month CD 0.90%
24 Month CD 1.10%
30 Month CD 1.10%
36 Month CD 1.10%
48 Month CD 1.10%
60 Month CD 1.25%

You can see how Capital One Bank’s CD rates compare with other bank CD rates by searching our rate lists at CDRates.RatesORama.com.  

 

Author: Brian McKay
October 4th, 2016

Popular Direct CD rates on one, two, and three year certificates of deposit were recently increased. Popular Direct had been offering very competitive CD rates and with these increases, are now the best CD rates on our rate list for all three CD terms. 

Popular Direct’s deposit products are offered through Banco Popular North America (BPNA). Deposit accounts are FDIC insured under Banco Popular North America (FDIC # 34967). In addition to being a member FDIC institution, BPNA is also a New York state chartered bank.

The recent CD rate increases include 1 year CD rates which were increased 4 basis points to 1.29 percent with a yield of 1.30 percent. 2 year CD rates were increased 5 basis points to 1.54 percent with a yield of 1.55 percent. 3 year rates were also increased 5 basis points to 1.59 percent with a yield of 1.60 percent.

Current CD Rates from Popular Direct

Product APY Rate Min. Deposit
3 month CD 0.600% 0.600% $10,000.00
6 month CD 0.850% 0.850% $10,000.00
1 yr CD 1.300% 1.290% $10,000.00
2 yr CD 1.550% 1.540% $10,000.00
3 yr CD 1.600% 1.590% $10,000.00
5 yr CD 2.000% 1.980% $10,000.00
18 month CD 1.350% 1.340% $10,000.00
1 month CD 0.050% 0.050% $10,000.00
2 month CD 0.050% 0.050% $10,000.00
4 yr CD 1.800% 1.780% $10,000.00

You can compare Popular Direct CD rates with other bank CD rates by using our rate lists at RatesORama.com.

Author: Brian McKay
September 24th, 2016

Eight different banks changed some or all of their CD rates the past week. Most of the CD rate changes were lower, in fact only one bank, TriState Capital Bank, actually increased their rates. CD rate changes were made to 43 different CD products, including regular, jumbo, IRA, and jumbo IRA certificates of deposit.

Bank

Product Rate (new / old) Yield (new / old)
TriState Capital Bank 6 month jumbo CD 0.7 / 0.65 0.7 / 0.65
TriState Capital Bank 1 yr jumbo CD 0.95 / 0.9 0.95 / 0.9
TriState Capital Bank 2 yr jumbo CD 1.15 / 1.1 1.15 / 1.1
TriState Capital Bank 18 month jumbo CD 1.05 / 1 1.05 / 1

Silvergate Bank

2 yr CD 1.25 / 1.46 1.26 / 1.47
Silvergate Bank 3 yr CD 1.4 / 1.65 1.41 / 1.66
Silvergate Bank 3 yr jumbo CD 1.4 / 1.65 1.41 / 1.66
State Farm Bank 3 yr CD 1.39 / 1.29 1.4 / 1.3
State Farm Bank 3 yr jumbo CD 1.39 / 1.29 1.4 / 1.3

KS StateBank

5 yr jumbo CD 1.94 / 1.99 1.95 / 2
Synchrony Bank 5 yr CD 1.83 / 2.03 1.85 / 2.05
Synchrony Bank 5 yr jumbo CD 1.83 / 2.03 1.85 / 2.05

giantbank.com

3 month CD 0.3 / 0.35 0.3 / 0.35
giantbank.com 6 month CD 0.75 / 0.8 0.75 / 0.8
giantbank.com 1 yr CD 1.05 / 1.1 1.06 / 1.11
giantbank.com 2 yr CD 1.15 / 1.2 1.16 / 1.21
giantbank.com 3 yr CD 1.35 / 1.4 1.36 / 1.41
giantbank.com 5 yr CD 1.65 / 1.7 1.66 / 1.71
giantbank.com 3 month jumbo CD 0.3 / 0.35 0.3 / 0.35
giantbank.com 6 month jumbo CD 0.75 / 0.8 0.75 / 0.8
giantbank.com 1 yr jumbo CD 1.05 / 1.1 1.06 / 1.11
giantbank.com 5 yr jumbo CD 1.65 / 1.7 1.66 / 1.71
giantbank.com 3 month $25K CD 0.3 / 0.25 0.3 / 0.25
giantbank.com 3 month $50K CD 0.3 / 0.25 0.3 / 0.25
giantbank.com 2 yr jumbo CD 1.15 / 1.2 1.16 / 1.21
giantbank.com 9 month CD 0.8 / 0.85 0.8 / 0.85
giantbank.com 9 month jumbo CD 0.8 / 0.85 0.8 / 0.85
Nationwide Bank 2 yr CD 1.11 / 1.41 1.12 / 1.42
Nationwide Bank 3 yr CD 1.27 / 1.54 1.28 / 1.55
Nationwide Bank 5 yr CD 1.61 / 1.93 1.62 / 1.95
Nationwide Bank 5 yr jumbo CD 1.66 / 1.98 1.67 / 2
Nationwide Bank 2 yr jumbo CD 1.16 / 1.46 1.17 / 1.47
Nationwide Bank 3 yr jumbo CD 1.32 / 1.59 1.33 / 1.6
Nationwide Bank 4 yr CD 1.55 / 1.74 1.56 / 1.76
Nationwide Bank 4 yr jumbo CD 1.6 / 1.79 1.61 / 1.81

First Internet Bank of Indiana

6 month CD 0.85 / 0.85 0.86 / 0.85
First Internet Bank of Indiana 6 month jumbo CD 0.85 / 0.85 0.86 / 0.85
First Internet Bank of Indiana 6 month $25K CD 0.85 / 0.85 0.86 / 0.85
First Internet Bank of Indiana 6 month $50K CD 0.85 / 0.85 0.86 / 0.85
First Internet Bank of Indiana 4 yr CD 1.65 / 1.65 1.67 / 1.66
First Internet Bank of Indiana 4 yr IRA CD 1.65 / 1.65 1.67 / 1.66
First Internet Bank of Indiana 4 yr jumbo CD 1.65 / 1.65 1.67 / 1.66
First Internet Bank of Indiana 4 yr jumbo IRA CD 1.65 / 1.65 1.67 / 1.66
Author: Brian McKay
August 17th, 2016

Live Oak Bank CD rates were lowered overnight but their CD rates are still very competitive even with the new lower rates. In fact, Live Oak Bank (NASDAQ:LOB) had the sole spot for the best 1 year CD rate and is now tied for the best 1 year rate with a few other banks.

Live Oak Bank’s 1 year CD rates were lowered from 1.29 percent with a yield of 1.30 percent to 1.24 percent with a yield of 1.25 percent. Live Oak’s 1 year CD rate is now tied with Synchrony Bank, iGObanking.com, Colorado Federal Savings Bank, and Barclays Bank.

2 year CD rates at Live Oak Bank are now at 1.44 percent with a yield of 1.45 percent. The previous 2 year CD rate was 1.49 percent with a yield of 1.50 percent. The 2 year CD rate at Live Oak is now the third best rate on our 2 year rate list.

Live Oak bank, headquartered in Wilmington, North Carolina, began in 2008.

Live Oak Bank CD Rate Changes

Bank Product Rate (new / old) Yield (new / old)
Live Oak Bank 1 yr CD 1.24 / 1.29 1.25 / 1.30
Live Oak Bank 2 yr CD 1.44 / 1.49 1.45 / 1.50
Live Oak Bank 5 yr CD 1.73 / 1.98 1.75 / 20
Live Oak Bank 4 yr CD 1.64 / 1.73 1.65 / 1.75

Complete List of Current Live Oak Bank CD Rates

  • 6 Month Rate 1.00% Yield 1.00%
  • 1 Year Rate 1.25% Yield 1.25%
  • 18 Month Rate 1.34% Yield 1.35%
  • 2 Year Rate 1.44% Yield 1.45%
  • 3 Year Rate 1.54% Yield 1.55%
  • 4 Year Rate 1.64% Yield 1.65%
  • 5 Year Rate 1.73% Yield 1.75%

You can see how Live Oak Bank CD rates compare with other bank CD rates and credit union CD rates by searching our rate lists at RatesORama.com.

Author: Brian McKay
August 3rd, 2016

Overnight, three different banks changed their CD rates. Two of the three banks, EverBank and Nationwide Bank, lowered their CD rates. The one bank that increased rates, Goldman Sachs Bank, upped their rates considerably. The biggest rate increase was on 1 year certificates of deposit which were increased from 1.00 percent to 1.20 percent.

Overnight CD Rate Changes for July 8, 2016

Bank Product Rate (New / Old) Yield (New / Old)
EverBank 3 month CD 0.63 / 0.65 0.63 / 0.65
EverBank 6 month CD 0.73 / 0.75 0.73 / 0.75
EverBank 1 yr CD 0.91 / 0.95 0.91 / 0.95
EverBank 2 yr CD 1.11 / 1.14 1.12 / 1.15
EverBank 2.5 yr CD 1.14 / 1.24 1.15 / 1.25
EverBank 3 yr CD 1.39 / 1.25 1.4 / 1.26
EverBank 3 month jumbo CD 0.63 / 0.65 0.63 / 0.65
EverBank 6 month jumbo CD 0.73 / 0.75 0.73 / 0.75
EverBank 1 yr jumbo CD 0.91 / 0.95 0.91 / 0.95
EverBank 2.5 yr jumbo CD 1.14 / 1.24 1.15 / 1.25
EverBank 18 month CD 1.02 / 1.05 1.03 / 1.06
EverBank 2 yr jumbo CD 1.11 / 1.14 1.12 / 1.15
EverBank 9 month CD 0.81 / 0.83 0.81 / 0.83
EverBank 9 month jumbo CD 0.81 / 0.83 0.81 / 0.83
EverBank 18 month jumbo CD 1.02 / 1.05 1.03 / 1.06
EverBank 3 yr jumbo CD 1.39 / 1.25 1.4 / 1.26
Goldman Sachs Bank USA 1 yr CD 1.19 / 1 1.2 / 1
Goldman Sachs Bank USA 2 yr CD 1.24 / 1.09 1.25 / 1.1
Goldman Sachs Bank USA 3 yr CD 1.34 / 1.24 1.35 / 1.25
Goldman Sachs Bank USA 18 month CD 1.19 / 1 1.2 / 1
Nationwide Bank 4 yr jumbo CD 1.79 / 1.83 1.81 / 1.85
Author: Brian McKay
July 9th, 2016

Overnight, three banks changed CD rates on several different CD products. Two of the three banks lowered their CD rates. The CD rate changes were to short term and intermediate term certificates of deposit. CD rates were changed on 1 year to 3 year products for both regular and jumbo CD accounts.

The largest CD rate change was 10 basis points on California First National Bank 2 year and 3 year CD rates for both regular and jumbo products. The lowest rate change was on AlsoStar Bank of Commerce CD products which were lowered only 1 basis point.

Despite the new lower rates at California First National Bank and AloStar Bank of Commerce, both banks are still offering competitive rates. For example, right now the highest 1 year CD rate on the rate list is at 1.25 percent. Alostar’s new lower 1 year rate is at 1.20 percent and CFNB’s new lower 1 year rate is at 1.15 percent.

You can see how all the new rates below compare with other CD rates at banks by searching our rate lists at RatesORama.com.

June 30, 2016 Overnight CD Rate Changes

Bank Product Rate (New / Old) Yield (New / Old)
AloStar Bank of Commerce 1 yr CD 1.19 / 1.22 1.2 / 1.23
AloStar Bank of Commerce 2 yr CD 1.39 / 1.41 1.4 / 1.42
AloStar Bank of Commerce 1 yr jumbo CD 1.19 / 1.22 1.2 / 1.23
AloStar Bank of Commerce 18 month CD 1.29 / 1.3 1.3 / 1.31
AloStar Bank of Commerce 2 yr jumbo CD 1.39 / 1.41 1.4 / 1.42
AloStar Bank of Commerce 18 month jumbo CD 1.29 / 1.3 1.3 / 1.31
California First National Bank 1 yr CD 1.14 / 1.19 1.15 / 1.2
California First National Bank 2 yr CD 1.29 / 1.39 1.3 / 1.4
California First National Bank 3 yr CD 1.39 / 1.49 1.4 / 1.5
California First National Bank 1 yr jumbo CD 1.14 / 1.19 1.15 / 1.2
California First National Bank 2 yr jumbo CD 1.29 / 1.39 1.3 / 1.4
California First National Bank 3 yr jumbo CD 1.39 / 1.49 1.4 / 1.5
Home Savings Bank 1 yr CD 0.9 / 0.85 0.9 / 0.85
Home Savings Bank 1 yr jumbo CD 0.9 / 0.85 0.9 / 0.85

 

 

 

Author: Brian McKay
July 1st, 2016

AloStar Bank of Commerce has lowered some of their regular CD rates and jumbo CD rates. The most recently rate changes are listed below. You can compare the rates listed below with other CD Rates at Banks.

Bank Product Rate (New / Old) Yield (New / Old)
AloStar Bank of Commerce 1 yr CD 1.24 / 1.26 1.25 / 1.27
AloStar Bank of Commerce 2 yr CD 1.44 / 1.47 1.45 / 1.48
AloStar Bank of Commerce 1 yr jumbo CD 1.24 / 1.26 1.25 / 1.27
AloStar Bank of Commerce 18 month CD 1.3 / 1.36 1.31 / 1.37
AloStar Bank of Commerce 2 yr jumbo CD 1.44 / 1.47 1.45 / 1.48
AloStar Bank of Commerce 18 month jumbo CD 1.3 / 1.36 1.31 / 1.37
Author: Brian McKay
May 24th, 2016

EverBank increased their certificate of deposit rates again this past week. The biggest increase was 4 basis points on the bank’s regular and jumbo 3 year certificates of deposit. Listed below are the most current CD rate changes from EverBank. See how these new rates compare with other bank CD rates.

Advertiser Product Rate (New / Old) Yield (New / Old)
EverBank 6 month CD 0.82 / 0.81 0.82 / 0.81
EverBank 1 yr CD 1.02 / 1.01 1.03 / 1.02
EverBank 2 yr CD 1.17 / 1.14 1.18 / 1.15
EverBank 2.5 yr CD 1.27 / 1.24 1.28 / 1.25
EverBank 3 yr CD 1.38 / 1.34 1.39 / 1.35
EverBank 5 yr CD 1.75 / 1.73 1.77 / 1.75
EverBank 6 month jumbo CD 0.82 / 0.81 0.82 / 0.81
EverBank 1 yr jumbo CD 1.02 / 1.01 1.03 / 1.02
EverBank 2.5 yr jumbo CD 1.27 / 1.24 1.28 / 1.25
EverBank 5 yr jumbo CD 1.75 / 1.73 1.77 / 1.75
EverBank 18 month CD 1.1 / 1.08 1.11 / 1.09
EverBank 2 yr jumbo CD 1.17 / 1.14 1.18 / 1.15
EverBank 9 month CD 0.91 / 0.9 0.91 / 0.9
EverBank 9 month jumbo CD 0.91 / 0.9 0.91 / 0.9
EverBank 18 month jumbo CD 1.1 / 1.08 1.11 / 1.09
EverBank 3 yr jumbo CD 1.38 / 1.34 1.39 / 1.35
EverBank 4 yr CD 1.59 / 1.55 1.6 / 1.56
EverBank 4 yr jumbo CD 1.59 / 1.55 1.6 / 1.56
Author: Brian McKay
April 21st, 2016

EverBank CD rates were changed again this week. EverBank increased CD rates and jumbo CD rates on the bank’s 3 year, 4 year and 5 year certificates of deposit. To see how these updated CD rates at EverBank compare with other bank CD rates use our rate list at RatesORama.com.

EverBank CD Rates

Bank Product Rate (New / Old) Yield (New / Old)
EverBank 3 Year CD 1.51 / 1.45 1.52 / 1.46
EverBank 5 Year CD 1.87 / 1.8 1.89 / 1.82
EverBank 5 Year Jumbo CD 1.87 / 1.8 1.89 / 1.82
EverBank 3 Year Jumbo CD 1.51 / 1.45 1.52 / 1.46
EverBank 4 Year CD 1.72 / 1.65 1.73 / 1.66
EverBank 4 Year Jumbo CD 1.72 / 1.65 1.73 / 1.66
Author: Brian McKay
March 15th, 2016

CIT Bank made the following CD rate changes to their 2 year and 5 year certificates of deposit. The rate changes were all lower and were on CIT Bank’s regular CDs, jumbo CDs, IRA CDs and jumbo IRA CDs. See how these rates compare with other bank CD rates by using our rate list at RatesORama.com.

CIT Bank CD Rate Changes

Bank Product Rate (new / old) Yield (new / old)
CIT Bank 2 yr CD 1.29 / 1.39 1.3 / 1.40
CIT Bank 5 yr CD 1.88 / 2.08 1.90 / 2.10
CIT Bank 5 yr jumbo CD 1.93 / 2.13 1.95 / 2.15
CIT Bank 2 yr IRA CD 1.29 / 1.39 1.30 / 1.40
CIT Bank 5 yr IRA CD 1.88 / 2.08 1.90 / 2.10
CIT Bank 2 yr jumbo IRA CD 1.34 / 1.46 1.35 / 1.47
CIT Bank 5 yr jumbo IRA CD 1.93 / 2.13 1.95 / 2.15
CIT Bank 2 yr jumbo CD 1.34 / 1.46 1.35 / 1.47

 

Author: Brian McKay
March 14th, 2016

Nationwide Bank has just lowered their regular and jumbo 2 year certificate of deposit rates. The new regular 2 year CD rate is 1.35 percent with a yield of 1.36 percent. The old regular 2 year CD rate at Nationwide Bank was 1.45 percent with a yield of 1.46 percent.

2 year jumbo CD rates at Nationwide were lowered from 1.50 percent with a yield of 1.51 percent to 1.40 percent with a yield of 1.41 percent. A complete current list of CD rates from Nationwide Bank are listed below. You can see how these rates compare with other CD rates at banks by checking our rate lists at Highest CD Rates.

Current CD Rates at Nationwide Bank

Term Annual Percentage Yield (APY*)
  $0 – $9,999.99 $10,000 – $99,999.99 $100,000+
3 Month 0.25% 0.25% 0.30%
6 Month 0.30% 0.30% 0.35%
9 Month 0.35% 0.35% 0.40%
12 Month 1.05% 1.05% 1.10%
18 Month 1.11% 1.11% 1.16%
24 Month 1.36% 1.36% 1.41%
36 Month 1.60% 1.60% 1.65%
48 Month 1.85% 1.85% 1.90%
60 Month 2.05% 2.05% 2.10%
Author: Brian McKay
March 1st, 2016

First Internet Bank (FIB) changed CD rates on all of the certificates of deposit the bank offers. This round of CD rate changes were all higher. A list of the changes are listed below. You can compare these new CD rates at FIB with other CD rates at banks by searching our rate list at RatesORama.com.

Bank Product Rate (New / Old) Yield (New / Old)
First Internet Bank of Indiana 3 month CD 0.5 / 0.45 0.5 / 0.45
First Internet Bank of Indiana 6 month CD 0.9 / 0.8 0.9 / 0.8
First Internet Bank of Indiana 1 yr CD 1.2 / 1.1 1.21 / 1.11
First Internet Bank of Indiana 2 yr CD 1.5 / 1.4 1.51 / 1.41
First Internet Bank of Indiana 3 yr CD 1.6 / 1.55 1.61 / 1.56
First Internet Bank of Indiana 5 yr CD 2.25 / 2.2 2.27 / 2.22
First Internet Bank of Indiana 3 month jumbo CD 0.5 / 0.45 0.5 / 0.45
First Internet Bank of Indiana 6 month jumbo CD 0.9 / 0.8 0.9 / 0.8
First Internet Bank of Indiana 1 yr jumbo CD 1.2 / 1.1 1.21 / 1.11
First Internet Bank of Indiana 5 yr jumbo CD 2.25 / 2.2 2.27 / 2.22
First Internet Bank of Indiana 3 month $25K CD 0.5 / 0.45 0.5 / 0.45
First Internet Bank of Indiana 6 month $25K CD 0.9 / 0.8 0.9 / 0.8
First Internet Bank of Indiana 3 month $50K CD 0.5 / 0.45 0.5 / 0.45
First Internet Bank of Indiana 6 month $50K CD 0.9 / 0.8 0.9 / 0.8
First Internet Bank of Indiana 1 yr IRA CD 1.2 / 1.1 1.21 / 1.11
First Internet Bank of Indiana 2 yr IRA CD 1.5 / 1.4 1.51 / 1.41
First Internet Bank of Indiana 3 yr IRA CD 1.6 / 1.55 1.61 / 1.56
First Internet Bank of Indiana 5 yr IRA CD 2.25 / 2.2 2.27 / 2.22
First Internet Bank of Indiana 2 yr jumbo IRA CD 1.5 / 1.4 1.51 / 1.41
First Internet Bank of Indiana 5 yr jumbo IRA CD 2.25 / 2.2 2.27 / 2.22
First Internet Bank of Indiana 18 month IRA CD 1.35 / 1.25 1.36 / 1.26
First Internet Bank of Indiana 18 month CD 1.35 / 1.25 1.36 / 1.26
First Internet Bank of Indiana 2 yr jumbo CD 1.5 / 1.4 1.51 / 1.41
First Internet Bank of Indiana 1 yr jumbo IRA CD 1.2 / 1.1 1.21 / 1.11
First Internet Bank of Indiana 18 month jumbo CD 1.35 / 1.25 1.36 / 1.26
First Internet Bank of Indiana 3 yr jumbo CD 1.6 / 1.55 1.61 / 1.56
First Internet Bank of Indiana 18 month jumbo IRA CD 1.35 / 1.25 1.36 / 1.26
First Internet Bank of Indiana 3 yr jumbo IRA CD 1.6 / 1.55 1.61 / 1.56
First Internet Bank of Indiana 4 yr CD 1.85 / 1.8 1.87 / 1.81
First Internet Bank of Indiana 4 yr IRA CD 1.85 / 1.8 1.87 / 1.81
First Internet Bank of Indiana 4 yr jumbo CD 1.85 / 1.8 1.87 / 1.81
First Internet Bank of Indiana 4 yr jumbo IRA CD 1.85 / 1.8 1.87 / 1.81
Author: Brian McKay
February 14th, 2016

There are new lower CD rates at Luana Savings BankCD rates were lowered on both jumbo and jumbo IRA certificates of deposit. The last time rates were changed at Luana Savings Bank was back on December 15, 2015. You can read about those rate changes at Luana Savings Bank Lowers Jumbo CD Rates by 5 Basis Points. Listed below are the most recent CD rate changes.

New CD Rates Luana Savings Bank

Bank Product Rate (New / Old) Yield (New / Old)
Luana Savings Bank 6 month jumbo CD 0.5 / 0.55 0.5 / 0.55
Luana Savings Bank 1 yr jumbo CD 0.65 / 0.70 0.65 / 0.70
Luana Savings Bank 2.5 yr jumbo CD 1.15 / 1.20 1.15 / 1.20
Luana Savings Bank 5 yr jumbo CD 1.6 / 1.65 1.61 / 1.66
Luana Savings Bank 6 month $50K CD 0.45 / 0.5 0.45 / 0.50
Luana Savings Bank 18 month IRA CD 1.00 / 1.05 1.00 / 1.05
Luana Savings Bank 18 month jumbo CD 0.90 / 0.95 0.90 / 0.95
Luana Savings Bank 3 yr jumbo CD 1.25 / 1.30 1.25 / 1.31
Luana Savings Bank 18 month jumbo IRA CD 1.00 / 1.05 1.00 / 1.05
Luana Savings Bank 4 yr jumbo CD 1.50 / 1.55 1.51 / 1.56
Author: Brian McKay
February 4th, 2016

EverBank had very competitive CD rates but recently lowered their rates. Listed below are the most recent EverBank CD rate changes. You can see how EverBank’s new CD rates compare with other CD rates at banks and credit unions by searching our rate lists at RatesORama.com.

Bank Product Rate (New / Old) Yield (New / Old)
EverBank 1 yr CD 1.05 / 1.29 1.06 / 1.30
EverBank 2 yr CD 1.14 / 1.46 1.15 / 1.47
EverBank 2.5 yr CD 1.27 / 1.45 1.28 / 1.46
EverBank 3 yr CD 1.41 / 1.69 1.42 / 1.7
EverBank 5 yr CD 1.86 / 2.23 1.88 / 2.25
EverBank 1 yr jumbo CD 1.05 / 1.29 1.06 / 1.30
EverBank 2.5 yr jumbo CD 1.27 / 1.45 1.28 / 1.46
EverBank 5 yr jumbo CD 1.86 / 2.23 1.88 / 2.25
EverBank 18 month CD 1.10 / 1.40 1.11 / 1.41
EverBank 2 yr jumbo CD 1.14 / 1.46 1.15 / 1.47
EverBank 18 month jumbo CD 1.10 / 1.4 1.11 / 1.41
EverBank 3 yr jumbo CD 1.41 / 1.69 1.42 / 1.7
EverBank 4 yr CD 1.66 / 1.98 1.67 / 2.00
EverBank 4 yr jumbo CD 1.66 / 1.98 1.67 / 2.00
Author: Brian McKay
January 25th, 2016

There are several new higher CD rates on intermediate and long term certificates of deposit at State Farm Bank. The best rate is now on State Farm Bank’s 5 year regular and jumbo certificate of deposit. The new 5 year rates are at 2.18 percent with an APY of 2.20 percent.

With this increase, State Farm Bank’s 5 year rate moved up from seventh place to fifth place on our 5 year rate list. State Farm Bank is now tied with CIT Bank and Discover Bank for the fifth highest 5 year CD rate. The highest 5 year rate is at 2.42 percent with an APY of 2.45 percent from E-Loan.

State Farm Bank’s 3 year CD rate had an even bigger move up the list. The old 3 year rate at 1.45% placed State Farm Bank at eleventh place but the new rate at 1.70% places State Farm Bank at second place. E-Loan and EverBank are currently tied with the best 3 year rate 1.83 percent with an APY of 1.85 percent.

4 year CD rates were increased from 1.59 percent with an APY of 1.60 percent to 1.73 percent with an APY of 1.75 percent. State Farm Bank’s new 4 year rate places the bank at seventh place on our 4 year rate list, tied with Synchrony Bank. The top 4 year rate is currently at 1.98 percent with an APY of 2.00 percent.

You an check on all current CD rates at RatesORama.com.

Author: Brian McKay
January 16th, 2016

Astoria Bank, based in Astoria, New York (Queens, NYC) has changed their CD rates. Astoria Bank CD rate changes were mostly higher, in fact, 3 of the 4 changes were higher. The highest rate offered right now at Astoria Bank is on the 5 year certificate of deposit. The current 5 year CD rate is 1.73 percent with an APY of 1.75 percent.

Astoria Bank has been in business since 1888 and is the second largest thrift depository in New York. The Bank currently has deposits totaling $9 billion. The bank has 88 brick and mortar locations, mostly around the New York City area. Deposits at Astoria Bank are insured by the FDIC, Cert number is 29805.

The recent CD rate changes at Astoria Bank are listed below. Compare these rates with other CD rates at banks by using our rate lists at RatesORama.com.

Astoria Bank CD Rate Changes

Bank Product Rate (new / old) Yield (new / old)
Astoria Bank 2 yr CD 1.00 / 0.75 1.01 / 0.75
Astoria Bank 2.5 yr CD 1.04 / 1.14 1.05 / 1.15
Astoria Bank 5 yr CD 1.73 / 1.64 1.75 / 1.65
Astoria Bank 4 yr CD 1.49 / 1.39 1.5 / 1.40

Current list of All CD Rates at Astoria Bank

3 Month 0.05% 0.05% $500
3 Month – Liquid CD 0.05% 0.05% $5,0004
4 Month 0.05% 0.05% $500
6 Month 0.05% 0.05% $500
9 Month 0.05% 0.05% $500
One Year 0.10% 0.10% $500
15 Month 0.10% 0.10% $500
1 1/2 Year 0.75% 0.75% $500
2 Year 1.00% 1.01% $500
2 1/2 Year 1.04% 1.05% $500
3 Year 1.14% 1.15% $500
3 1/2 Year 1.24% 1.25% $500
4 Year 1.49% 1.50% $500
5 Year 1.73% 1.75% $500
1 1/2 Year Variable IRA7 0.05% 0.05% $100
Author: Brian McKay
January 6th, 2016

For the second time this month, CIT Bank has lowered some of their CD rates. On December 3, CIT Bank lowered CD rates on several of their certificates of deposit and rates were lowered again yesterday. Despite the lowered rates, CIT Bank’s rates are still very competitive.

Prior to the December 3rd change, CIT had the highest 1 year bank CD rate on our rate list at 1.29 percent with an APY of 1.30 percent. On the 3rd, the rate was lowered to 1.24 percent with an APY of 1.25 percent. Yesterday the rate was lowered again to 1.21 percent with an APY of 1.22 percent.

This is just speculation on my part, but I wonder if the bank lowered their rate twice in just over a week to raise the rate when the Fed increases the fed funds rate next Wednesday. The fed is expected to increase the fed funds rate 0.25 percent next week.

If CIT follows with a rate increase, the bank’s 1 year CD rate could be increased to 1.49 percent with an APY of 1.50 percent. It’s been several years since any financial institution on our rates list offered a 1 year CD rate at 1.50 percent. Listed below are the most recent changes to CIT Bank CD rates.

Bank Product Rate (New / Old) Yield (New / Old)
CIT Bank 1 yr CD 1.21 / 1.24 1.22 / 1.25
CIT Bank 2 yr CD 1.39 / 1.42 1.40/ 1.43
CIT Bank 1 yr IRA CD 1.21 / 1.24 1.22 / 1.25
CIT Bank 2 yr IRA CD 1.39 / 1.42 1.40 / 1.43

Check on current CD rates from many different banks and credit unions by searching our rate list at RatesORama.com.

Author: Brian McKay
December 10th, 2015

Luana Savings Bank is at it again, changing their Jumbo CD rates. This time Jumbo CD rates on 4 different certificates of deposit were lowered by 5 basis points each. Just earlier this month jumbo CD rates at Luana Savings Bank were increased on the same jumbo certificates of deposit.

Listed below are the most recent changes.

Bank Product Rate (New / Old) Yield (New / Old)
Luana Savings Bank 2.5 yr jumbo CD 1.10 / 1.15 1.10 / 1.15
Luana Savings Bank 5 yr jumbo CD 1.60 / 1.65 1.61 / 1.66
Luana Savings Bank 3 yr jumbo CD 1.25 / 1.30 1.26 / 1.31
Luana Savings Bank 4 yr jumbo CD 1.50 / 1.55 1.51 / 1.56
Author: Brian McKay
December 3rd, 2015

Luana Savings Bank increased their jumbo CD rates again. The rate changes this time are on the bank’s 30 month, 3 year, 4 year, and 5 year rates. The rate changes were all higher though the biggest change was only 10 basis points.

Luana Savings Bank CD Rate Changes

Bank Product Rate (New / Old) Yield (New / Old)
Luana Savings Bank 2.5 yr jumbo CD 1.1 / 1.05 1.1 / 1.05
Luana Savings Bank 5 yr jumbo CD 1.6 / 1.55 1.61 / 1.56
Luana Savings Bank 3 yr jumbo CD 1.25 / 1.2 1.26 / 1.2
Luana Savings Bank 4 yr jumbo CD 1.5 / 1.4 1.51 / 1.41
Author: Brian McKay
November 4th, 2015

State Farm Bank, the banking arm of the insurance company State Farm, changed their 5 year CD rates. Both regular and jumbo CD rates were lowed from 2.08 percent with an APY of 2.10 percent to 2.03 percent with an APY of 2.05 percent.

Author: Brian McKay
October 20th, 2015

Luana Savings Bank made some jumbo CD rate changes last night. The rate changes are to the following jumbo certificates of deposit.

CD Rate Changes Luana Savings Bank

Bank Product Rate (new / old) Yield (new / old)
Luana Savings Bank 2.5 yr jumbo CD 1.05 / 1.1 1.05 / 1.1
Luana Savings Bank 5 yr jumbo CD 1.6 / 1.7 1.61 / 1.71
Luana Savings Bank 3 yr jumbo CD 1.2 / 1.25 1.2 / 1.26
Luana Savings Bank 4 yr jumbo CD 1.4 / 1.55 1.41 / 1.56
Author: Brian McKay
October 7th, 2015

GiantBank.com made changes to their CD rates today. The rate changes were to the bank’s regular CDs and the bank’s jumbo CDs. The highest CD rate right now at GiantBank.com is on their 5 year CD at 1.75 percent with an APY of 1.76 percent.

Current CD Rates from GiantBank.com

Bank Product Rate (new / old) Yield (new / old)
giantbank.com 6 month CD 0.75 / 0.65 0.75 / 0.65
giantbank.com 1 yr CD 1.05 / 0.95 1.06 / 0.95
giantbank.com 2 yr CD 1.25 / 1.05 1.26 / 1.06
giantbank.com 3 yr CD 1.45 / 1.3 1.46 / 1.31
giantbank.com 5 yr CD 1.75 / 1.55 1.76 / 1.56
giantbank.com 6 month jumbo CD 0.75 / 0.65 0.75 / 0.65
giantbank.com 1 yr jumbo CD 1.05 / 0.95 1.06 / 0.95
giantbank.com 5 yr jumbo CD 1.75 / 1.3 1.76 / 1.31
giantbank.com 6 month $25K CD 0.75 / 0.65 0.75 / 0.65
giantbank.com 6 month $50K CD 0.75 / 0.65 0.75 / 0.65
giantbank.com 2 yr jumbo CD 1.25 / 1.05 1.26 / 1.06
giantbank.com 9 month CD 0.8 / 0.7 0.8 / 0.7
giantbank.com 9 month jumbo CD 0.8 / 0.7 0.8 / 0.7

 

Author: Brian McKay
October 7th, 2015

The top savings rate and money market rate are both at 1.10 percent this week. Variable deposit rates won’t move much higher from current levels until the Fed increases the fed funds rate. The Fed meets again next month so we might not have to wait much longer for an increase.

Listed below are the top variable deposit rates for 9/29/15

Highest Savings Rates

  • My Savings Direct 1.09% APY 1.10%
  • Radius Bank 1.09% APY 1.10%
  • The Palladian Private Bank Rate 0.90% APY 1.10%
  • Synchrony Bank Rate 1.04% APY 1.05%
  • CIT Bank 1.04% APY 1.05%
  • GE Capital Bank Rate 1.04% APY 1.05%
  • Barclays Bank Rate 1.00% APY 1.00%
  • iGObanking.com 1.00% APY 1.00%
  • Ally Bank Rate 1.00% APY 1.00%
  • Discover Bank Rate 0.95% APY 0.95%
  • American Express Bank Rate 0.90% APY 0.90%

Money Market Rates

  • EverBank Rate 0.61% APY 1.11%
  • Dime 0.20% APY 1.10%
  • Northeast Bank 1.09% APY 1.10%
  • iGObanking.com 1.09% APY 1.09%
  • ableBanking Rate 1.00% APY 1.00%
  • Sallie Mae Bank Rate 0.90% APY 0.90%
  • Ally Bank Rate 0.85% APY 0.85%
  • Synchrony Bank Rate 0.85% APY 0.85%
  • MyCBB Rate 0.83% APY 0.83%

Find the best deposit rates by searching our rate lists at Savings.RatesORama.com

Author: Brian McKay
September 30th, 2015

California First National Bank just increased 6 month and 1 year CD rates. The bank’s six month rate was increased to 0.90 percent, up from 0.85 percent. 1 year CD rates were also increased to 1.23 percent with an APY of 1.24 percent. The old rate was 1.19 percent with an APY of 1.20 percent.

California First National Bank now has the second best 1 year rate in our database and is only 1 basis point below the top rate.

You can check on current rates by using the rate list at RatesORama

Author: Brian McKay
September 18th, 2015

Once again, EverBank has changed some of their CD rates. EverBank is one of the more active banks when it comes to changing their rates. This time all the rate changes are to the bank’s short term and intermediate term certificates of deposit.

EverBank CD Rate Changes

  • 6 Month Rate 0.53% (increased 0.02%)
  • 6 Month Jumbo Rate 0.53% (increased 0.02%)
  • 1 Year Rate 0.91% (increased 0.09)
  • 1 Year Jumbo Rate 0.91% (increased 0.09)
  • 30 Month Rate 1.17% Yield 1.18% (decreased 0.19%)
  • 30 Month Jumbo Rate 1.17% Yield 1.18% (decreased 0.19%)
  • 3 Year Rate 1.36% Yield 1.37% (increased 0.02%)
  • 3 Year Jumbo Rate 1.36% Yield 1.37% (increased 0.02%)

As you can see below, most of the changes are minor. The biggest change was to the bank’s 30 month rates which were lowered 19 basis points. To view the most current bank CD rates use the rate table at CDRates.RatesORama.com

Author: Brian McKay
September 10th, 2015

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

The best CD rates on 1 year certificates of deposit remain at 1.25 percent this week. There are four banks tied with the highest 1 year CD rate. Synchrony Bank, CIT Bank, Sallie Mae and E-Loan are all offering the top rate at 1.24 percent with an APY of 1.25 percent.

The Federal Open Market Committee (FOMC) opens their two day meeting later today. Markets are not anticipating the Fed to increase the federal funds rate during this meeting. Any hawkish comments in the FOMC’s post-meeting statement could indicate a hike during the upcoming September meeting.

If the Fed hikes interest rates during the September meeting, the increase will be 0.25 percent. A fed funds rate increase of 0.25 percent would send the highest 1 year CD rates towards 1.50 percent. The last time the Fed increase the rate was almost a decade ago back in 2006.

Listed below are the top certificate of deposit rates for July 25, 2015:

1 Month Bank CD Rates

  • Lone Star Bank 0.15% APY
  • Virtual Bank 0.15% APY
  • AloStar Bank of Commerce 0.10% APY
  • E-Loan 0.10% APY

2 Month Bank CD Rates

  • MyCBB 0.80% APY
  • E-LOAN 0.16% APY
  • Lone Star Bank 0.15% APY
  • Virtual Bank 0.15% APY

3 Month Bank CD Rates

  • California First National Bank 0.55% APY
  • First Internet Bank of Indiana 0.45% APY
  • AloStar Bank of Commerce 0.40% APY
  • Goldwater Bank 0.40% APY
  • VirtualBank 0.40% APY
  • Discover Bank 0.35% APY

6 Month Bank CD Rates

  • California First National Bank 0.85% APY
  • My e-BAnC by BAC Florida Bank 0.85% APY
  • AloStar Bank of Commerce 0.80% APY
  • Silvergate Bank 0.75% APY

9 Month Bank CD Rates

  • NewDominion Bank 0.90% APY
  • AloStar Bank of Commerce 0.80% APY
  • Discover Bank  0.70% APY
  • GE Capital Bank 0.70% APY
  • VirtualBank 0.70% APY
  • giantbank.com 0.70% APY

1 Year Bank CD Rates

  • Synchrony Bank 1.24% APY 1.25%
  • CIT Bank 1.24% APY 1.25%
  • Sallie Mae Bank 1.24% APY 1.25%
  • E-Loan 1.24% APY 1.25%
  • Bank Direct 1.20% APY 1.21%
  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%
  • Home Savings Bank 1.19% APY 1.20%
  • Colorado FSB 1.19% APY 1.20%

18 Month Bank CD Rates

  • Synchrony Bank 1.24% APY 1.25%
  • E-Loan 1.24% APY 1.25%
  • Nordstorm Bank 1.24% APY 1.25%
  • VirtualBank 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%

2 Year CD Rates

  • E-Loan 1.51% APY 1.52%
  • Silvergate Bank 1.45% APY 1.46%
  • Synchrony Bank 1.44% APY 1.45%
  • Pentagon Federal Credit Union 1.40% APY 1.41%
  • AloStar Bank of Commerce 1.39% APY 1.40%
  • CIT Bank 1.39% APY 1.40%
  • iGObanking.com 1.34% APY 1.35%

3 Year Bank CD Rates

  • Silvergate Bank 1.65% APY 1.66%
  • E-Loan 1.64% APY 1.65%
  • EverBank 1.64% APY 1.65%
  • First Internet Bank of Indiana 1.50% APY 1.51%
  • Synchrony Bank 1.49% APY 1.50%
  • Lone Star Bank 1.49% APY 1.50%
  • AloStar Bank of Commerce 1.48% APY 1.50%

4 Year Bank CD Rates

  • E-Loan 1.89% APY 1.91%
  • EverBank 1.89% APY 1.91%
  • Nationwide Bank 1.84% APY 1.86%
  • CIT Bank 1.80% APY 1.82%
  • Virtual Bank 1.77% APY 1.78%%
  • Capital One 1.75% APY 1.75%
  • Discover 1.74% APY 1.76%
  • Synchrony Bank 1.73% APY 1.75%

5 Year Bank CD Rates

  • EverBank 2.28% APY 2.31%
  • E-Loan 2.28% APY 2.31%
  • Synchrony Bank 2.23% APY 2.25%
  • Capital One 2.23% APY 2.25%
  • First Internet Bank of Indiana 2.15% APY 2.17%

CD rates change all the time, for a current list of rates on our list visit RatesORama.com

Author: Brian McKay
July 28th, 2015

We have two new leaders on our 1 year CD rates list. Synchrony Bank and Sallie Mae Bank are both offering 1 year CD rates at 1.24 percent with an APY of 1.25 percent. Nordstrom Bank’s 1 year CD rate had the top spot last week at 1.22 percent with an APY of 1.23 percent.

Author: Brian McKay
July 12th, 2015

Nordstrom Bank CD rates are new to our rate table having been added this past month. Nordstrom Bank’s rates are very competitive and the bank’s 1 year CD rate is the third top rate on our 1 year CD rates list. The bank’s deposits are insured by the FDIC, the bank’s FDIC Certificate number is 33497.

Nordstrom Bank is a trade name of Nordstrom FSB, a wholly owned subsidiary of Nordstrom, Inc. The bank’s full service and only brick and mortar office is based in Scottsdale, Arizona. In case you’re wondering, the bank is associated with the high end department store Nordstrom.

Now let’s take a look at the CD interest rates offered. 1 year CD rates at Nordstrom Bank are currently at 1.22 percent with an APY of 1.23 percent. The only banks on our list that have a better rate are Synchrony Bank and CIT Bank at 1.24 percent with an APY of 1.25 percent

The bank’s other rates are competitive but don’t make into the top 5 on our rate lists. Listed below are all the rates offered by the bank.

Nordstrom Bank Current CD Rates

  • 3 Month Rate 0.35% APY 0.35%
  • 6 Month Rate 0.45% APY 0.45%
  • 1 Year Rate 1.22% APY 1.23%
  • 18 Month Rate 1.24% APY 1.25%
  • 2 Year Rate 1.29% APY 1.30%
  • 3 Year Rate 1.44% APY 1.45%
  • 5 Year Rate 1.83% APY 1.85%

Nordstrom Bank rates are effective as of April 28, 2015.

Author: Brian McKay
July 1st, 2015

Certificate of deposit rates continue to slowly move higher this week. While several banks increased their CD rates, there are no new highs to report on this week. Like I have stated in the past, we will have to wait for the Federal Open Market Committee to vote to increase the federal funds rate before we see remarkably higher CD rates.

It won’t be too long before we actually see higher rates. The FOMC usually votes to increase or decrease the federal funds rate during one of their regularly scheduled meetings. The next FOMC meeting scheduled for June 16 and June 17.

There is a chance we will see the fed funds rate increased during the June meeting. After the June meeting, there is another meeting in July and one in September. There is almost a 100 percent certainly that the rate will be increased between June and September.

Since CD rates are moving higher over the next 4 months you should stay invested in shorter term certificates of deposit. The best short term CD rate we have right now is on our 2 month rate list. MyCBB Bank 2 month CD rate is currently at 0.80 percent with an APY of 0.80 percent.

Listed below are the highest CD rates for both short term and long term certificates of deposit. Also listed below are the FDIC’s national average rates for May 11, 2015. The FDIC releases a weekly report on national average deposit rates.

Highest Certificate of Deposit Rates May 17, 2015

1 Month CD Rates

  • Lone Star Bank 0.15% APY
  • Virtual Bank 0.15% APY
  • AloStar Bank of Commerce 0.10% APY

2 Month CD Rates

  • MyCBB 0.80% APY 0.80%
  • E-LOAN 0.16% APY 0.16%
  • Lone Star Bank 0.15% APY 0.15%
  • Virtual Bank 0.15% APY 0.15

3 Month CD Rates

  • California First National Bank 0.60% APY 0.60%
  • 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%
  • VirtualBank 0.40% APY 0.40%
  • Discover Bank 0.35% APY 0.35

6 Month CD Rates

  • Zions Direct 1.00% APY 1.00%
  • California First National Bank 0.95% APY 0.95%
  • Pentagon Federal Credit Union 0.81% APY 0.81%
  • My e-BAnC by BAC Florida Bank 0.80% APY 0.80%
  • Silvergate Bank 0.75% APY 0.75%
  • Colorado Federal Savings Bank 0.70% APY 0.70%
  • First Internet Bank of Indiana 0.70% APY 0.70%
  • Goldwater Bank 0.70% APY 0.70%

9 Month CD Rates

  • NewDominion Bank 0.80% APY 0.90%
  • AloStar Bank of Commerce 0.80% APY 0.80%
  • Discover Bank  0.70% APY 0.70%
  • VirtualBank 0.70% APY 0.70%
  • giantbank.com 0.70% APY 0.70%
  • USAA 0.66% APY 0.66%
  • EverBank 0.63% APY 0.63%
  • Barclays 0.60% APY 0.60%

1 Year CD Rates

  •  Colorado FSB 1.34% APY 1.35%
  • Pentagon FCU 1.30% APY 1.31%
  • Synchrony Bank 1.22% APY 1.23%
  • Bank Direct 1.20% APY 1.21%
  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%
  • Home Savings Bank 1.19% APY 1.20%
  • California First National Bank 1.15% APY 1.16%
  • VirtualBank 1.15% APY 1.16%

18 Month CD Rates

  • Synchrony Bank 1.24% APY 1.25%
  • VirtualBank 1.20% APY 1.21%
  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%
  • AloStar Bank of Commerce 1.14% APY 1.15%
  • First Internet Bank of Indiana 1.10% APY 1.10%
  • Ally Bank 1.09% APY 1.10%
  • Colorado Federal Savings Bank 1.04% APY 1.05%
  • Discover Bank 1.04% APY 1.05%

2 Year CD Rates

  • Synchrony Bank 1.34% APY 1.35%
  • CIT Bank 1.34% APY 1.35%
  • Barclays 1.34% APY 1.35%
  • iGObanking.com 1.34% APY 1.35%
  • My e-BAnC by BAC Florida Bank 1.30% APY 1.31%
  • Home Savings Bank 1.29% APY 1.30%
  • Ally Bank 1.28% APY 1.29%

30 Month CD Rates

  • Lone Star Bank 1.41% APY 1.42%
  • Discover Bank  1.29% APY 1.30%
  • EverBank 1.23% APY 1.24%
  • USAA 0.85% APY 0.85%

3 Year CD Rates

  • Synchrony Bank 1.49% APY 1.50%
  • Lone Star Bank 1.49% APY 1.50%
  • Capital One 1.49% APY 1.49%
  • First Internet Bank of Indiana 1.45% APY 1.46%
  • Barclays Bank 1.44% APY 1.45%
  • Discover Bank 1.44% APY 1.45%
  • EverBank 1.44% APY 1.45%

4 Year CD Rates

  • Nationwide Bank 1.84% APY 1.86%
  • Barclays Bank 1.83% APY 1.85%
  • CIT Bank 1.80% APY 1.82%
  • Virtual Bank 1.77% APY 1.78%
  • EverBank 1.76% APY 1.78%
  • Capital One 1.75% APY 1.75%
  • Discover 1.74% APY 1.76%
  • Synchrony Bank 1.73% APY 1.75%

5 Year CD Rates

  •  Synchrony Bank 2.23% APY 2.25%
  • Barclays Bank 2.23% APY 2.25%
  • Capital One 2.18% APY 2.18%
  • Home Savings Bank 2.13% APY 2.15%
  • First Internet Bank of Indiana 2.10% APY 2.12%
  • EverBank 2.01% APY 2.03%

FDIC National Average CD Rates

  • 1 month CD Rate 0.06%
  • 3 month CD Rate 0.08%
  • 6 month CD Rate 0.12%
  • 12 month CD Rate 0.20%
  • 24 month CD Rate 0.34%
  • 36 month CD Rate 0.47%
  • 48 month CD Rate 0.60%
  • 60 month CD Rate 0.79%
Author: Brian McKay
May 18th, 2015

Federal Open Market Committee officials are still uncertain on when to increase their key benchmark interest rate, the federal funds rate. CD rates and other deposit rates are tied to the federal funds rate so when the rate is increased, deposit rates will also move higher.

The most recent press release by the Fed didn’t contain any surprises on when rates will move higher. The most telling statement was the following:

The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

In plain language, the Fed is saying even when they increase the rate, they might keep it lower than would have in the past. This policy makes sense in that the Fed is hedging their bets for the future but not committing to anything. We have seen so many false starts regarding economic growth.

Growth was robust for many quarters until the first quarter of 2015’s GDP growth of 0.2 percent, a shocking and disappointing number. Chances are the harsh cold weather most of the country experienced in January and February depressed growth. We should see a sharp rebound in 2nd quarter GDP.

If 2nd quarter growth comes in above 3.00 percent and if job growth is strong in the coming months the Fed will increase rates in June. Weaker than expected growth will force the Fed to wait until later in the summer or until as late as September to increase rates.

Either way, interest rates are moving higher within the next 4 months. If you have any certificates of deposits maturing, be sure to reinvest in shorter term CDs. It makes no sense to lock into a long term CD rate now when rates are moving higher.

By the end of 2015, 1 year CD rates could be in the 2.50 percent to 3.00 percent range. 6 month CD rates will head towards 2.00 percent. Longer term rates will also move higher. 5 year CD rates which are currently around 2.25 percent will increase towards 3.50 percent, possibly as high as 4.00 percent.

The higher interest rate cycle will start in 2015 and will last until 2017 or 2018. I wouldn’t lock into a CD term longer than 1 year for the next 3 years. You’re better off staying invested in 6 month CDs so you can take advantage of higher rates every 6 months.

Listed below are the best CD rates for CD terms of 3 months, 6 months, and 1 year:

3 Month CD Rates

  • California First National Bank 0.60% APY
  • First Internet Bank of Indiana 0.45% APY
  • AloStar Bank of Commerce 0.40% APY
  • Goldwater Bank 0.40% APY
  • Virtual Bank 0.40% APY
  • Barclays Bank 0.35% APY
  • Discover Bank 0.35% APY
  • EverBank 0.34% APY

6 Month CD Rates

  • Zions Direct 1.00% APY
  • California First National Bank 0.95% APY
  • MyCBB 0.85% APY
  • Chartway Federal Credit Union 0.85% APY
  • Pentagon Federal Credit Union 0.81% APY
  • EH National Bank 0.80% APY
  • Silvergate Bank  0.75% APY
  • First Internet Bank of Indiana 0.70% APY
  • Goldwater Bank 0.70% APY

1 Year CD Rates

  • Colorado FSB 1.34% APY 1.35%
  • Pentagon FSB 1.30% APY 1.31%
  • Chartway FSB 1.30% APY 1.31%
  • Synchrony Bank 1.22% APY 1.23%
  • My Bank Direct 1.21% APY 1.22%
  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%
  • Home Savings Bank 1.19% APY 1.20%
  • Virtual Bank 1.15% APY 1.16%
  • Sallie Mae Bank 1.14% APY 1.15%

Search our CD rate list for the most update rates: CD Rates List

Author: Brian McKay
May 4th, 2015

Synchrony Bank, which had one of the best 1 year CD rates, recently increased their rate again. Synchrony Bank 1 year CD rates are now at 1.22 percent with an APY of 1.23 percent, up from 1.19 percent with an APY of 1.20 percent. Synchrony Bank’s rate beats the old top CD rate held by Bank Direct by 2 basis points.

When a bank or credit union increases their rates we provide a list of all their current rates. Listed below are all of Synchrony Bank’s My Optimizer Plus CD rates.

CD Deposit Amount $2,000 to $14,999

  • 3 Month APY 0.27%
  • 6 Month APY 0.41%
  • 9 Month APY 0.45%
  • 12 Month APY 1.23%
  • 18 Month APY 1.25%
  • 24 Month APY 1.35%
  • 36 Month APY 1.50%
  • 48 Month APY 1.70%
  • 60 Month APY 2.20%

CD Deposit Amount $15,000 to $24,999

  • 3 Month APY 0.32%
  • 6 Month APY 0.50%
  • 9 Month APY 0.60%
  • 12 Month APY 1.23%
  • 18 Month APY 1.25%
  • 24 Month APY 1.35%
  • 36 Month APY 1.50%
  • 48 Month APY 1.70%
  • 60 Month APY 2.20%

CD Deposit Amount $25,000 to $49,999

  • 3 Month APY 0.32%
  • 6 Month APY 0.60%
  • 9 Month APY 0.65%
  • 12 Month APY 1.23%
  • 18 Month APY 1.25%
  • 24 Month APY 1.35%
  • 36 Month APY 1.50%
  • 48 Month APY 1.75%
  • 60 Month APY 2.25%

CD Deposit Amount $50,000 to $99,999

  • 3 Month APY 0.32%
  • 6 Month APY 0.50%
  • 9 Month APY 0.60%
  • 12 Month APY 1.23%
  • 18 Month APY 1.25%
  • 24 Month APY 1.35%
  • 36 Month APY 1.50%
  • 48 Month APY 1.70%
  • 60 Month APY 2.20%

CD Deposit Amount $1000,000 and Higher (Jumbo)

  • 3 Month APY 0.32%
  • 6 Month APY 0.50%
  • 9 Month APY 0.60%
  • 12 Month APY 1.23%
  • 18 Month APY 1.25%
  • 24 Month APY 1.40%
  • 36 Month APY 1.60%
  • 48 Month APY 1.70%
  • 60 Month APY 2.20%

You can see how CD rates at Synchrony Bank compare to other bank CD rates by checking our rate lists: Bank CD Rates

 

Author: Brian McKay
April 13th, 2015

Congressional Bank is currently offering two high yielding certificates of deposit that are at the top of the CD rates list. First let me share a little background information on Congressional Bank. The bank is headquartered in Bethesda, Maryland and has branch locations in Washington, D.C., Herndon, Potomac, and Rockville.

As with any bank these days, you don’t have to live near a branch to use the bank. Congressional Bank uses Commercial Capture Xpress, Anywhere ATM, and online banking which allows you access to the bank’s services and your money. Congressional Bank has it’s deposit insured by the FDIC (Cert #57614) for up to the maximum amount allowed by law.

Congressional Bank CD RatesCongressional Bank CD rates on 1 year certificates of deposit are currently at 1.194 percent with an APY of 1.20 percent. The bank’s 1 year CD rate is tied with two other banks for the top rate on our list. CIT Bank and Synchrony Bank are also offering 1.20 percent APY on 1 year CDs.

The bank’s 2 year CD rate is also currently tied with CIT Bank and Synchrony Bank for the best rate on our list. The bank’s current 2 year rate is 1.344 percent with an APY of 1.35 percent. The minimum opening deposit for both CDs at Congressional Bank is $25,000.

Related Posts:

RatesORama.com has a List of the Best CD rates Available

CD Rates | Best Certificate of Deposit Rates

Author: Brian McKay
March 27th, 2015

Listed below are the highest jumbo CD rates for certificate of deposit terms of 3 months to 5 years. The minimum deposit to open an account at any of the banks or credit unions listed below is $100,000. Most of the financial institutions offering these jumbo CD rates are also offering the same CD rates for regular certificates of deposit.

3 Month Jumbo Certificate of Deposit Rates

  • First Internet Bank of Indiana Jumbo CD Rate 0.45% APY 0.45%
  • AloStar Bank of Commerce Jumbo CD Rate 0.40% APY 0.40%
  • Virtual Bank Jumbo CD Rate 0.40% APY 0.40%
  • Discover Bank Jumbo CD Rate 0.35% APY 0.35%
  • USAA Bank Jumbo CD Rate 0.35% APY 0.35%

1 Year Jumbo Bank and Credit Union CD Rates

  • Chartway Federal Credit Union Jumbo Rate 1.30% APY 1.31%
  • Bank Direct Jumbo Rate 1.20% APY 1.21%
  • Synchrony Bank Jumbo Rate 1.19% APY 1.20%
  • My e-BAnC by BAC Florida Bank 1.19% APY 1.20%
  • Virtual Bank Jumbo Rate 1.15% APY 1.16%
  • Sallie Mae Bank Jumbo Rate 1.14% APY 1.15%

18 Month Jumbo CD Rates

  • Virtual Bank Jumbo CD Rate 10.20% APY 1.21%
  • My e-BAnC by BAC Florida Bank Jumbo CD Rate 1.19% APY 1.20%
  • Chartway Federal Credit Union Jumbo Certificate Rate 1.15% APY 1.15%
  • AloStar Bank of Commerce Jumbo CD Interest Rate 1.14% APY 1.15%
  • First Internet Bank of Indiana Jumbo Rates 1.10% APY 1.10%
  • Discover Bank Jumbo Rates 1.04% APY 1.15%

2 Year Jumbo Bank CD Rates

  • CIT Bank Jumbo Rate 1.42% APY 1.43%
  • My e-BAnC by BAC Florida Bank Jumbo Rate 1.34% APY 1.35%
  • Home Savings Bank Jumbo Rate 1.29% APY 1.30%
  • Chartway Federal Credit Union Jumbo Rate 1.25% APY 1.26%
  • First Internet Bank of Indiana Jumbo Rate 1.25% APY 1.26%
  • VirtualBank Jumbo Rate 1.25% APY 1.26%
  • Synchrony Bank Jumbo Rate 1.24% APY 1.25%
  • AloStar Bank of Commerce Jumbo Rate 1.24% APY 1.25%

3 Year Jumbo CD Interest Rates

  • EverBank Jumbo Rate 1.49% APY 1.50%
  • First Internet Bank of Indiana Jumbo Rate 1.46% APY 1.46%
  • Sallie Mae Jumbo Rate 1.44% APY 1.45%
  • Discover Bank Jumbo Rate 1.44% APY 1.45%
  • My e-BAnC by BAC Florida Bank Jumbo Rate 1.40% APY 1.41%

4 Year Jumbo Bank Rates

  • CIT Bank Jumbo CD Interest Rate 1.95% APY 1.97%
  • Nationwide Bank Jumbo CD Interest Rate 1.93% APY 1.95%
  • Everbank Jumbo CD Interest Rate 1.88% APY 1.90%
  • VirtualBank Jumbo CD Interest Rate 1.77% APY 1.78%
  • Synchrony Bank Jumbo CD Interest Rate 1.73% APY 1.75%
  • Discover Bank Jumbo CD Interest Rate 1.73% APY 1.75%

5 Year Jumbo Bank Interest Rates

  • CIT Bank Jumbo CD Rates 2.25% APY 2.27%
  • Synchrony Bank Jumbo CD Rates 2.23% APY 2.25%
  • Everbank Jumbo CD Rates 2.23% APY 2.25%
  • Home Savings Bank Jumbo CD Rates 2.13% APY 2.15%
  • First Internet Bank of Indiana Jumbo CD Rates 2.10% APY 2.12%
  • Sallie Mae Bank Jumbo CD Rates 2.08% APY 2.10%
  • Discover Bank Jumbo CD Rates 2.08% APY 2.10%

Related Posts:

RatesORama.com has a List of the Best CD rates Available

 

Author: Brian McKay
March 16th, 2015

The list of banks and credit unions offering 1 year certificate of deposit rates
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at or above 1.00 percent continues to grow. Just over a month ago, there were 16 financial institutions offering 1 year rates that high, this month the list has grown to 21.

Not only are more banks and credit unions offering higher rates but the best 1 year CD rates available have also increased. Back in November 2014, the highest 1 year rates were at 1.14 percent with an APY of 1.15 percent. This month there are three banks offering 1 year rates above 1.15 percent APY.

Bank Direct is offering 1 year rates at 1.20 percent with an APY of 1.21 percent. CIT Bank and Synchrony Bank are both offering 1 year rates at 1.19 percent with an APY of 1.20 percent.

This month there are also two credit unions offering 1 year certificate rates at new highs. Chartway Federal Credit Union is offering 1 year rates at 1.30 percent with an APY of 1.31 percent. Connexus Credit Union is offering 1 year rates at 1.30 percent with an APY of 1.31 percent. As will all credit unions you will have to join either of these credit unions to open a certificate account.

If these rates are starting to entice you, just wait until the Federal Open Market Committee increases the fed funds rate. Bank CD rates and other deposit rates are tied to the fed funds rate, when the FOMC increases the rate, deposit rates move also higher. This is expected to happen in the next few months.

By the end of 2015, we could see 1 year CD rates at banks just above 2.00 percent. The last time 1 year rates were that high was at least 5 years ago, just after the financial crisis and Great Recession. Until CD rates move higher you can view the top 1 year rates available below.

1 Year Certificate of Deposit Rates

  • Chartway Federal Credit Union 1.30% APY 1.31%
  • Connexus Credit Union  1.30 APY 1.30%
  • BankDirect 1.20% APY 1.21%
  • CIT Bank 1.19% APY 1.20%
  • Synchrony Bank 1.19% APY 1.20%
  • My e-BAnC by BAC Florida Bank 1.17% APY 1.18%
  • VirtualBank  1.15% APY 1.16%
  • Sallie Mae  1.14% APY 1.15%
  • Midwest Regional Bank 1.11% APY 1.11%
  • AloStar Bank of Commerce  1.09% APY 1.10%
  • Colorado Federal Savings Bank 1.09% APY 1.10%
  • GE Capital Bank  1.09% APY 1.10%
  • Silvergate Bank 1.07% APY 1.08%
  • California First National Bank  1.05% APY 1.06%
  • giantbank.com  1.05% APY 1.06%
  • Ally Bank 1.04% APY 1.05%
  • TIAA Direct  1.00% APY 1.01%
  • Discover Bank 1.00% APY 1.00%
  • First Internet Bank of Indiana  1.00% APY 1.00%
  • Home Savings Bank  1.00% APY 1.00%
  • Pentagon Federal Credit Union  1.00% APY 1.00%

 

Author: Brian McKay
March 4th, 2015

Listed below are the FDIC’s average CD rates this week and the best CD rates available for terms of 3 months to 5 years.

FDIC National Average CD Rates

  • 1 month CD Rate 0.06%
  • 3 month CD Rate 0.08%
  • 6 month CD Rate 0.12%
  • 12 month CD Rate 0.20%
  • 24 month CD Rate 0.34%
  • 36 month CD Rate 0.47%
  • 48 month CD Rate 0.60%
  • 60 month CD Rate 0.79%

3 Month CD Rates

  1. California First National Bank CD Rate 0.60%
  2. First Internet Bank of Indiana CD Rate 0.45%
  3. AloStar Bank of Commerce CD Rate 0.40% (tied)
  4. Goldwater Bank CD Rate 0.40% (tied)
  5. VirtualBank CD Rate 0.40% (tied)

6 Month Rates

  1. Zions Direct 1.00%
  2. California First National Bank CD Rate 0.85%
  3. Chartway Federal Credit Union Certificate Rate 0.85%
  4. Doral Direct CD Rate 0.82%
  5. My e-BAnC by BAC Florida Bank CD Rate 0.80%
  6. EH National Bank  CD Rate 0.80%

1 Year CD Rates and APY

  1. Connexus Credit Union Certficate Rate 1.30% APY 1.30%
  2. Chartway Federal Credit Union Certificate Rate 1.20% APY 1.21% (tied)
  3. Bank Direct CD Rate 1.20% APY 1.21% (tied)
  4. CIT Bank CD Rate 1.19% APY 1.20% (tied)
  5. Synchrony Bank CD Rate 1.19% APY 1.20% (tied)
  6. My e-BAnC by BAC Florida Bank CD Rate 1.17% APY 1.18%

2 Year CD Rates and APY

  1. CIT Bank CD Rate 1.34% APY 1.35% (tied)
  2. Synchrony Bank CD Rate 1.34% APY 1.35% (tied)
  3. My e-BAnC by BAC Florida Bank CD Rate 1.30% APY 1.31%
  4. Home Savings Bank CD Rate 1.29% APY 1.30% (tied)
  5. GE Capital Bank CD Rate 1.29% APY 1.30% (tied)
  6. Ally Bank CD Rate 1.28% APY 1.29%

3 Year Rates and APY

  1. Synchrony Bank CD Rate 1.49% APY 1.50%
  2. EverBank CD Rate 1.49% APY 1.50%
  3. Barclays Bank CD Rate 1.44% APY 1.45% (tied)
  4. Discover Bank CD Rate 1.44% APY 1.45% (tied)
  5. Sallie Mae Bank CD Rate 1.44% APY 1.45% (tied)
  6. First Internet Bank of Indiana CD Rate 1.44% APT 1.45% (tied)
  7. GE Capital Bank CD Rate 1.44% APY 1.45% (tied)

4 Year Rates and APY

  1. CIT Bank CD Rate 1.88% APY 1.90% (tied)
  2. Nationwide Bank CD Rate 1.88% APY 1.90% (tied)
  3. EverBank CD Rate 1.86% APY 1.88%
  4. Barclays Bank CD Rate 1.83% APY 1.85%
  5. Virtual Bank CD Rate 1.77% APY 1.78%
  6. Synchrony Bank CD Rate 1.73% APY 1.75%

5 Year Rates and APY

  1. Synchrony Bank CD Rate 2.23% APY 2.25% (tied)
  2. Barclays Bank CD Rate 2.23% APY 2.25% (tied)
  3. GE Capital Bank CD Rate 2.23% APY 2.25% (tied)
  4. Nationwide Bank CD Rate 2.13% APY 2.15%

Certificate of Deposit Rates:

CD Rates | Compare the Best CD Rates at Banks by Searching our CD Rates List at RatesORama.com

RatesORama.com has a List of the Best CD rates Available

 

 

Author: Brian McKay
February 27th, 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.

Best CD Rates 2/5/15

6 Month Rates

  • California First National Bank 1.00% APY
  • Zions Direct 1.00% APY
  • Doral Direct 0.82% APY
  • Chartway Federal Credit Union 0.80% APY
  • HeritageWest Credit Union 0.80% APY
  • My e-BAnC by BAC Florida Bank 0.80% APY

1 Year Rates

  • Connexus Credit Union 1.30% APY 1.30%
  • Synchrony Bank 1.19% APY 1.20%
  • My e-BAnC by BAC Florida Bank 1.17% APY 1.18%
  • Chartway Federal Credit Union 1.15% APY 1.15%
  • HeritageWest Credit Union  1.15% APY 1.15%
  • CIT Bank 1.14% APY 1.15%

2 Year Rates

  • CIT Bank 1.34% APY 1.35%
  • Synchrony Bank 1.34% APY 1.35%
  • My e-BAnC by BAC Florida Bank 1.30% APY 1.31%
  • California First National Bank 1.29% APY 1.30%
  • GE Capital Bank 1.29% APY 1.30%
  • Home Savings Bank 1.29% APY 1.30%
  • Ally Bank 1.28% APY 1.29%

3 Year Rates

  • Synchrony Bank 1.49% APY 1.50%
  • Barclays Bank 1.44% APY 1.45%
  • Discover Bank 1.44% APY 1.45%
  • First Internet Bank of Indiana 1.44% APY 1.45%
  • GE Capital Bank 1.44% APY 1.45%
  • Sallie Mae Bank 1.44% APY 1.45%

4 Year Rates

  • Nationwide Bank 1.93% APY 1.95%
  • CIT Bank 1.88% APY 1.90%
  • Barclays Bank 1.83% APY 1.85%
  • VirtualBank 1.77% APY 1.78%
  • Synchrony Bank 1.73% APY 1.75%
  • Discover Bank 1.73% APY 1.75%
  • GE Capital Bank 1.73% APY 1.75%

5 Year Rates

  • Synchrony Bank 2.23% APY 2.5%
  • Barclays Bank 2.23% APY 2.25%
  • GE Capital Bank 2.23% APY 2.25%
  • Nationwide Bank 2.23% APY 2.25%
  • Discover Bank 2.08% APY 2.10%
  • First Internet Bank 2.08% APY 2.10%
Author: Brian McKay
February 5th, 2015

2015 will finally bring higher certificate of deposit rates after many years of low rates. A few financial institutions have already increased their CD rates in 2014 but the majority of increases will happen this year. Once the Federal Reserve increases the federal funds rate, banks and credit unions will increase deposit rates.

The Federal Reserve is expected to increase the fed funds rate sometime in the first two quarters of 2015. The current fed funds rate has been in a range of zero to one quarter percent since December of 2008. Higher interest rates are coming but the increases won’t be that large.

The first increase in the fed funds rate is expected to be a 25 basis point increase. The last time the fed funds rate was increase was in June 2006 when the rate was increased from 6.00 percent to 6.25 percent. Back in 2015, you could find 1 year bank CD rates above 6.00 percent. We’ll be lucky if we see rates that high by 2020.

By the end of 2015, the fed funds rate is likely to be around 1.00 percent. The fed funds rate near 1.00 percent will send 1 year CD rates towards 2.00 percent. The last time 1 year rates were around 2.00 percent was over 6 years ago. Variable interest rate accounts such as savings and money market accounts will also move towards 2.00 percent.

Looking at current interest rates, the best 1 year CD rate on the rate list is at 1.16 percent with an APY of 1.17 percent. The best savings rate is at 1.04 percent with an APY of 1.05 percent. The best money market rates are at 1.01 percent APY.

Author: Brian McKay
January 14th, 2015

Certificate of deposit rates ended 2014 on a positive note as banks began increasing CD rates ahead of the expected federal funds rate increases in next year. The increases were small and the number of banks increasing rates were also small but 2015 is shaping up to be a better year for rates.

2014 also marks the first year since 2006 that average CD interest rates moved higher and not lower. Bank rates remained low for so long because the Federal Reserve has kept the fed funds rate near zero percent since December of 2008. The last time the federal funds rate was actually increased was back in June 2006, when the rate was increased 25 basis points to 5.25 percent.

Back in June 2006, you could easily find 1 year CD rates above 5.00 percent. Currently, the best 1 year CD rates available are just above 1.00 percent and most banks still offer 1 year rates below 1.00 percent. Rates at current levels are actually an improvement from preceding years.

The longer term outlook for deposit rates is also higher as the Federal Reserve is expected to increase interest rates for the next several years. The last cycle of increases started in November 2003 when the fed funds rate was at 1.00 percent and ended up at 5.25 percent in June 2006. We can expect this cycle of increases to last as long and possibly take the fed funds rate towards 5.00 percent by the end of 2017.

The fed funds rate near 5.00 percent in 2017 would send 1 year CD rates above 5.00 percent for the first time in a decade. Variable interest rate accounts such as savings accounts and money market accounts would also garner yields above 5.00 percent. Less rosy forecasts have the fed funds rate around 3.50 percent by the end of 2017, which would send 1 year rates and variable deposit rates above 4.00 percent.

These forecasts are based on the presumption that the U.S. economy will to expand, a strong jobs market will continue and that there will be an increase in the inflation rate. There are many factors that could derail these forecasts, especially if an international economic slowdown drags the U.S. economy down with it. Growth in China is slowing, the Japanese economy slipped into recession again and growth in Europe is slipping.

Author: Brian McKay
December 26th, 2014

The best rates on certificates of deposit move higher this week, continuing the trend of higher rates the past month. The increases are small again this week but at least CD rates are moving higher, not lower, as we have seen for the past 6 years.

The highest CD rates on 1 year certificates of deposit are now at 1.16 percent with an APY of 1.17 percent from two different banks, Bank Direct and Congressional Bank. The best 1 year CD rate last week was from Sallie Mae Bank at 1.14 percent with an APY of 1.15 percent. A year ago the best 1 year CD rates were at 1.00 percent and this coming year we will probably see 1 year rates move towards 2.00 percent.

The highest 2 year certificate of deposit rates this week are also from Congressional Bank at 1.54 percent with an APY of 1.55 percent. Last week’s best 2 year CD rate was at 1.50 percent with an APY of 1.50 percent. By the end of 2015, the highest 2 year bank CD rates will head towards 3.00 percent.

The highest 3 year CD rate this week is from iGObanking at 1.69 percent with an APY of 1.70 percent. The highest 5 year CD rates this week are at 2.50 percent with an APY of 2.52 percent. Listed below are the top 5 CD rates from banks and credit unions for certificate of deposit terms between 3 months and 5 years.

Top Certificate of Deposit Rates

3 Month Rates

  • First Internet Bank of Indiana 0.45%
  • AloStar Bank of Commerce 0.40%
  • Goldwater Bank 0.40%
  • Pacific Mercantile Bank 0.40%
  • VirtualBank 0.40%

6 Month Rates

  • Doral Direct 0.82% 
  • EH National Bank 0.80%
  • Chartway Federal Credit Union 0.75%
  • HeritageWest Credit Union 0.75%
  • My e-BAnC by BAC Florida Bank 0.75%

9 Month Rates

  • NewDominion Bank 0.89% APY 0.90%
  • Doral Direct 0.86% APY 0.86%
  • AloStar Bank of Commerce 0.80% APY 0.80%
  • giantbank.com 0.75% APY 0.75%
  • GE Capital Bank 0.70% APY 0.70%

1 Year Rates

  • Bank Direct 1.16% APY 1.17%
  • Congressional Bank 1.16% APY 1.17%
  • Sallie Mae 1.14% APY 1.15%
  • My e-BAnC by BAC Florida Bank 1.11% APY 1.12%
  • GE Capital Bank 1.09% APY 1.10%

2 Year Rates

  • Congressional Bank 1.54% APY 1.55%
  • Chartway Federal Credit Union 1.50% APY 1.51%
  • HeritageWest Credit Union 1.50% APY 1.51%
  • iGObanking.com 1.39% APY 1.40%
  • Nationwide Bank 1.32% APY 1.33%

3 Year Rates

  • iGObanking.com 1.69% APY 1.70%
  • Pentagon Federal Credit Union 1.55% APY 1.56%
  • Nationwide Bank 1.49% APY 1.50%
  • Chartway Federal Credit Union 1.45% APY 1.46%
  • Everbank 1.44% APY 1.45%

5 Year Rates

  • Chartway Federal Credit Union 2.50% APY 2.52%
  • HeritageWest Credit Union 2.50% APY 2.52%
  • Nationwide Bank 2.29% APY 2.32%
  • Synchrony Bank Optimizer Plus 2.23% APY 2.25%
  • Barclays Bank 2.23% APY 2.25%
Author: Brian McKay
December 2nd, 2014

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:

  • 3 Month CD Rate 0.45% APY 0.45%
  • 6 Month CD Rate 0.85% APY 0.85%
  • 9 Month CD Rate 0.89% APY 0.90%
  • 1 Year CD Rate 1.14% APY 1.15%
  • 18 Month CD Rate 1.26% APY 1.25%
  • 2 Year CD Rate 1.50% APY 1.50%
  • 30 Month CD Rate 1.30% APY 1.31%
  • 3 Year CD Rate 1.50% APY 1.51%
  • 4 Year CD Rate 1.93% APY 1.95%
  • 5 Year CD Rate 2.50% APY 2.52%
Author: Brian McKay
November 11th, 2014

Mortgage rates moved higher this week, following 10 year bond yields higher. Bond yields and mortgage rates were higher on stronger than expected third quarter GDP growth and a stronger than expected manufacturing report.

Third quarter GDP growth came in at 3.5 percent, higher than the 3.0 growth analysts had expected. The ISM Manufacturing Index also beat expectations, registering 59 last month, up from September’s reading of 56.6.

Mortgage Rates Move Higher This Week Average 15 Year Mortgage Rate at 311 PercentConventional 15 year mortgage rates today are averaging 3.11 percent this week, up from the prior week’s average 15 year rate of 3.05 percent. Average mortgage interest rates are higher this week but rates are still low, historically speaking. Average 15 year rates were 6 basis points higher this week but the lowest 15 year rates available remained the same at 2.75 percent.

Current mortgage rates on 30 year conforming loans are still below 4.00 percent this week at 3.99 percent. 30 year rates are slightly higher from last week’s average of 3.98 percent. The best 30 year refinance rates available actually fell 0.125 percent this week to 3.625 percent with 2 mortgage points.

30 year jumbo mortgage rates are down this week, bucking the uptrend. The current average 30 year jumbo rate is at 4.22 percent, down 1 basis point from last week’s average rate. The lowest 30 year jumbo refinance rate available on the rate table are up 0.125 percent this week to 3.75 percent with 1.5 points. The lowest 30 year jumbo refi rate without points remained the same at 3.875 percent.

Average 15 year jumbo mortgage rates are at 3.88 percent, a big decline from the previous week’s average 15 year rate of 4.01 percent. The lowest 15 year jumbo refinance rates are at 2.99 percent with 1.50 points and at 3.125 percent with no points.

5/1 conforming adjustable mortgage rates are averaging 3.25 percent, down from last week’s average 5 year adjustable rate of 3.32 percent. The best 5 year adjustable ARMs available are still well below the average at 2.375 percent with 1.75 points and at 2.55 percent with no points.

Today’s mortgage rates on 5 year jumbo adjustable loans are averaging 3.47 percent, a sharp uptick from last week’s average 5 year jumbo rate of 3.14 percent. The lowest 5 year jumbo refi rates available are at 2.50 percent with 2 points and at 2.55 percent with no points.

Author: Brian McKay
November 11th, 2014

Interest rates on certificates of deposit continue to move higher this week as the top 2 year CD rates are now at 1.50 percent. Financial institutions are increasing rates despite the fact that the federal funds rate remains in a targeted range of zero to one quarter percent.

The FOMC just wrapped up their two day October meeting yesterday and announced an end to quantitative easing but they plan to keep the fed funds rate near zero percent. Eventually, the FOMC will increase the fed funds rate which will send deposit rates even higher. The stage has been set for higher interest rates sometime 2015.

The rate curve has flatted even more this week as banks and credit unions increase shorter term CD rates but haven’t increased longer term CD rates. The rate difference between the highest 1 year rate (1.20%) and the highest 5 year rate (2.52%) is at 1.30 percent and the difference between the highest 2 year rate (1.50%) and 5 year rate (2.52%) is at 1.02 percent.

Listed below are the top CD rates for certificate of deposit terms of 6 months to 5 years.

6 Month CD Rates

  • Doral Direct 0.87%
  • Chartway Federal Credit Union 0.85%
  • EH National Bank 0.80%

1 Year CD Rates

  • Pentagon Federal Credit Union 1.20% APY 1.21%
  • CIT Bank 1.11% APY 1.12%
  • Synchrony Bank Optimizer Plus 1.09% APY 1.10%
  • BankDirect 1.09% APY 1.10%
  • GE Capital Bank 1.09% APY 1.10%
  • My e-BAnC by BAC Florida Bank 1.09% APY 1.10%
  • ableBanking, a division of Northeast Bank 1.09% APY 1.10%
  • Colorado Federal Savings Bank 1.09% APY 1.10%

2 Year CD Rates

  • Chartway Federal Credit Union 1.50% APY 1.50%
  • Nationwide Bank 1.32% APY 1.33%
  • Pentagon Federal Credit Union 1.30% APY 1.31%
  • CIT Bank 1.29% APY 1.30%
  • Home Savings Bank 1.26% APY 1.27%
  • ableBanking, a division of Northeast Bank 1.26% APY 1.27%
  • HeritageWest Credit Union 1.25% APY 1.26%

3 Year CD Rates

  • Chartway Federal Credit Union 1.50% APY 1.51%
  • Nationwide Bank 1.49% APY 1.50%
  • CIT Bank 1.44% APY 1.45%
  • Sallie Mae 1.44% APY 1.45%
  • Bank Direct 1.44% APY 1.45%
  • Barclays Bank 1.44% APY 1.45%
  • State Farm Bank 1.44% APY 1.45%

5 Year CD Rates

  • Chartway Federal Credit Union 2.50% APY 2.52%
  • Nationwide Bank 2.29% APY 2.32%
  • Synchrony Bank Optimizer Plus 2.27% APY 2.30%
  • GE Capital Bank 2.23% APY 2.25%
  • Barclays Bank 2.23% APY 2.25%
Author: Brian McKay
October 31st, 2014

Continuing the uptrend for CD rates this week, we now have new high rates for 1 year, 2 year, and 5 year bank CD rates. Nationwide Bank increased their CD rates this week, making their rates the best CD rates available from a bank for these CD terms. We say “from a bank” because we have credit unions offering some rates slightly higher than Nationwide Bank’s rates.

Nationwide Bank has the highest 1 year bank CD rate at 1.13 percent with an APY 1.14 percent. Last week’s top 1 year bank CD rate was from CIT Bank at 1.11 percent with an APY of 1.12 percent. Pentagon Federal Credit Union (PenFed) has the best 1 year credit union CD rate at 1.20 percent with an APY of 1.21 percent.

The best 2 year CD rate on our list from a credit union is at 1.50 percent with an APY of 1.50 percent from Chartway Federal Credit Union. As with any credit union, you need to join to open an account and you can join Chartway by simply donating $10.00 to their philanthropic arm, the We Promise Foundation if you don’t qualify by the myriad ways they’ve made available to you. Usually to join a credit union you have to live, work or worship in an area or have some other affiliation to join.

The highest 2 year rate from a bank on our rate list this week is from Nationwide Bank at 1.32 percent with an APY of 1.33 percent. This tops CIT Bank’s 2 year rate, which is at 1.29 percent with an APY of 1.30 percent. CIT Bank has been the leader with the top rates for a while, so it will be interesting to see if CIT Bank increases their CD rates in the coming weeks.

The highest 5 year credit union CD rate this week is also from Chartway FCU at 1.50 percent with an APY of 1.52 percent. The top 5 year CD rate from a bank is from Nationwide at 2.29 percent with an APY of 2.32 percent.

Related Posts:

CD Rates | Best Certificate of Deposit Rates

CD Rates

Author: Brian McKay
October 23rd, 2014

The highest CD rates moved higher again this week as banks and credit unions continue to increase rates.  For 2 year CD rates, we have a new high rate from a credit union at 1.50 percent. This is 24 basis points higher than the previously highest rate. The best 2 year bank CD rate is at 1.26 percent with an APY of 1.27 percent, unchanged from last week’s top rate.

The top 1 year bank rate this week is at 1.11 percent with an APY of 1.12 percent and the top 1 year credit union CD rate is at 1.20 percent with an APY of 1.21 percent. Last week, the top 1 year CD rate was at 1.09 percent. This week we have 1 bank and 1 credit union offering 1 year CD rates higher than 1.09 percent.

Listed below are the best CD rates for short term and long term CD rates for the week of October 15, 2014:

3 Month CD Interest Rates

  • First Internet Bank of Indiana 0.45%
  • AloStar Bank of Commerce 0.40%
  • Goldwater Bank 0.40%
  • VirtualBank 0.40%
  • Barclays Bank 0.35%
  • Discover Bank 0.35%

6 Month CD Interest Rates

  • Doral Direct 0.87% 
  • Chartway Federal Credit Union 0.85%
  • EH National Bank 0.80%
  • Colorado Federal Savings Bank 0.70%
  • First Internet Bank of Indiana 0.70%
  • GE Capital Bank 0.70%
  • My e-BAnC by BAC Florida Bank 0.70%
  • ableBanking, a division of Northeast Bank 0.70%

1 Year CD Interest Rates

  • Pentagon Federal Credit Union 1.20% APY 1.21%
  • CIT Bank 1.11% APY 1.12%
  • Synchrony Bank Optimizer Plus 1.09% APY 1.10%
  • GE Capital Bank 1.09% APY 1.10%
  • Nationwide Bank 1.09% APY 1.10%
  • Colorado Federal Savings Bank 1.09% APY 1.10%
  • ableBanking, a division of Northeast Bank 1.09% APY 1.10%

2 Year CD Interest Rates

  • Chartway Federal Credit Union 1.50% APY 1.50%
  • Nationwide Bank 1.26% APY 1.27%
  • Home Savings Bank 1.26% APY 1.27%
  • ableBanking, a division of Northeast Bank 1.26% APY 1.27%
  • HeritageWest Credit Union 1.25% APY 1.26%
  • CIT Bank 1.24% APY 1.25%
  • Colorado Federal Savings Bank 1.24% APY 1.25%
  • First Internet Bank of Indiana 1.24% APY 1.25%

5 Year CD Interest Rates

  • Chartway Federal Credit Union 2.50% APY 2.52%
  • Synchrony Bank Optimizer Plus  2.27% APY 2.30%
  • Barclays Bank 2.23% APY 2.25%
  • GE Capital Bank 2.23% APY 2.25%
  • Nationwide Bank 2.23% APY 2.25%
  • State Farm Bank 2.23% APY 2.25%
  • EverBank 2.19% APY 2.21%
Author: Brian McKay
October 15th, 2014

We all know CD rates will be moving a lot higher in 2015 because the Federal Open Market Committee will increase the federal fund rate. Some banks and credit unions are jumping ahead of the FOMC by increasing CD rates now. This past month we have seen many banks increase intermediate and long term CD rates in hopes of locking in deposits at current lower rates.

You might be enticed to lock into a 2 year CD at a 1.50 percent CD rate (Chartway FCU’s current 2 year rate) but that would be a mistake. By spring or summer of 2015, 1 year CD rates will be at or above 1.50 percent. Right now the current top 1 year bank CD rate is at 1.20 percent with an APY of 1.21 percent (Pentagon FCU’s current 1 year CD rate).

As you can see the top 1 year rate is only 30 basis points below the top 2 year rate, not much of an incentive to lock into a 2 year CD when rates are moving higher. We are getting closer and closer to the point when the FOMC will increase the fed funds rate, which will send CD rates higher. Therefore shorter term CDs are the best bet right now.

The best CD rates on 6 month certificates of deposit are only marginally below the best 1 year rates. The highest 6 month rate on our rate list is at 1.00 percent with an APY of 1.00 percent. Comparing 6 month, 1 year and 2 year CD rates you can see how flat the rate curve is but that will change in the coming years.

To maximize your return over the next several years you should stay invested in short term or intermediate term CDs. The FOMC hasn’t increased the fed fund rate yet, but when they do this cycle of increases isn’t expected to end until 2017 or 2018. This means we will see 3 to 4 years of higher CD rates.

Projections for the fed funds rate in the coming yearsThis table to the right shows the majority of Fed officials believe the fed funds rate will be at 1.00 in 2015. The fed funds rate at 1.00 percent will send 1 year CD rates towards 2.00 percent. One Fed official believes the fed funds rate will be at 4.50 percent next year, a fed funds rate at that level will send 1 year CD rate above 5.00 percent.

Though it is highly unlikely we will see a 4.50 percent fed funds rate and 1 year CD rates at 5.00 percent in 2015.

A more likely scenario is for the fed funds rate to hit 4.50 percent sometime in 2017 or 2018 depending on economic growth, inflation and employment figures.

Make no mistake interest rates are moving higher in 2015, 2016 and, beyond. Therefore you should position your finances for higher interest rates.

Payoff any loans you have, lock in a low mortgage rate while you can. Stay invested in variable interest rate accounts (savings and money market account) and, short term CDs.

You can search for the highest short term CD rates on the rate tables: Highest CD Rates.

Author: Brian McKay
October 6th, 2014

Banks and credit unions continue to increase intermediate and long term CD rates. Banks wants to lock-in deposits before rates move considerably higher. These financial institutions are competing to offer the best rate, as a result of the competition, we now have four different banks offering the highest 1 year CD rate on our table.

These banks are offering 1 year bank CD rates at 1.09 percent with an APY of 1.10 percent. The four banks offering this rate and yield are Synchrony Bank, GE Capital Bank, ableBanking, a division of Northeast Bank, and Colorado Federal Savings Bank.

The increases in rates haven’t been that large but at least rates are once again moving higher, not lower. The last time we saw higher CD rates across the board, was before the financial crisis and Great Recession, over six years ago. Larger increases, 50 basis points to 100 basis points, will have to wait until the Federal Open Market Committee increases their key increase rate, the federal funds rate.

The best CD rates this week on our 2 year rate table are slightly higher than 1 year rates. The highest 2 year rate this week is at 1.26 percent with an APY of 1.27 percent. The bank offering this 2 year CD rate and yield is AbleBanking. Last month two credit unions held the top 2 year rate at 1.25 percent with an APY of 1.26 percent.

The highest 3 year rate on the tables this week is at 1.44 percent with an APY of 1.45 percent. There are three banks offering this 3 year CD rate and yield, EverBank, State Farm Bank and Nationwide Bank.

The top 5 year CD rate this week is from Synchrony Bank and EverBank at 2.27 percent with an APY of 2.30 percent. You can use our rate lists to find the highest rates available for CD terms of 1 month to 5 years. CD Rates.

 

Author: Brian McKay
September 17th, 2014

Below is a quick rundown of the best certificate of deposit rates available on our rate lists for CD terms of 3 months to 60 months. If you compare the CD rates listed below with previous reports, you see rates are finally moving higher. The increases are small but once or twice a month we see a new high for a specific CD term.

This week a new high was made on our 2 year CD rate list. The increase was only 1 basis point but at least it’s higher and not lower. Overall rates will continue to move slightly higher this year with the biggest increases coming next year when the fed increases the federal funds rate. Bigger increases in CD rates will come when the fed increases the fed funds rate. When this happens, we will see 25 and 50 basis point increases on all CD terms. For now we have to be patient with smaller increases.

Because rates are moving higher in the not-too-distant future, don’t lock into long term certificates of deposit. Staying invested in shorter term CDs will insure you get the best returns when rates move higher in 2015.

Best CD Rates August 21, 2014

  • 3 Month Rate 0.45%
  • 6 Month Rate 1.00%
  • 9 Month Rate 0.91%
  • 1 Year Rate 1.09% APY 1.10%
  • 2 Year Rate 1.25% APY 1.26%
  • 3 Year Rate 1.45% APY 1.46%
  • 5 Year Rate 2.27% APY 2.30%

 

Author: Brian McKay
August 21st, 2014

Geopolitical tensions around the world have you nervous about staying invested in equities? Well they should because investors throughout the world are reducing risk in equities and fleeing to the safety of Treasuries. As investors buy Treasuries, price move higher and yields move lower.

If you’re reducing your risk in equities you should give certificates of deposit another look. None of your principal is at risk when you invest in CDs as long as you stay under the insured FDIC amount of $250,000. Investing in bonds does put your principal at risk if you decide to sell before maturity.

Certificates of deposit are also paying better rates right now over U.S. bond rates. For example, the best 1 year CD rate on the rate list below is currently at 1.09 percent with an APY of 1.10 percent. The current 1 year bond rate is much lower paying only 0.10 percent, less than 1/10 the CD rate.

Below you compare the highest CD rates available with current U.S. Treasury yields.

CD Rates

  • 1 Month 0.15%
  • 3 Month 0.45%
  • 6 Month 1.00%
  • 1 Year 1.10% APY
  • 2 Year 1.25% APY
  • 3 Year 1.46% APY
  • 5 Year 2.30% APY

Bond Yields

  • 1 Month 0.04%
  • 3 Month 0.04%
  • 6 Month 0.06%
  • 1 Year 0.10%
  • 2 Year 0.42%
  • 3 Year 0.87%
  • 5 Year 1.58%

As you can see, the best CD rates available are much higher than their equivalent bond yields. The future looks bright for CD rates as the Federal Reserve is set to increase the fed funds rate sometime in 2015, this will send bank CD rates higher.

Bond yields are also expected to increase in 2015 but remember, bond prices and yields are inversely related. As yields move higher, prices will move lower. Selling those bonds before they mature will cause you to lose some of your principal. Cashing a CD before maturity will only cause you to lose some, or all, of the interest earned, but no principal.

Author: Brian McKay
August 18th, 2014

The past several months we have recommended staying invested in short term certificate of deposit rates to position yourself for higher CD rates in 2015. Investing in a CD term longer than 12 months right now would be a mistake because CD rates are set to move higher sometime in the next 12 months.

Anther reason why investing in longer term CDs doesn’t make sense is because the yield curve is flat. The rate difference between the best 1 year rate and best 5 year rates is just over 1.00 percent. So it just doesn’t make sense to lock into a 5 year CD with a rate around 2.25 percent when rate are going higher.

By the end of 2015 we will probably see 1 year CD rates at banks over 2.00 percent. Depending on how high the federal funds rate is upped we might see 1 year rates over 3.00 percent. So don’t be tempted to lock into a long term CD now because you will regret it.

Listed below are the highest 3 month , 6 month and 1 year bank CD rates currently available on our rate lists:

3 Month Rates

  • EverBank 0.45%
  • AloStar Bank of Commerce 0.45%
  • Virtual Bank 0.40%

6 Month Rates

  • Zions Direct Bank 1.00%
  • Doral Direct 0.87%
  • EH National Bank 0.80%

1 Year Rates

  • Synchrony Bank 1.09% APY 1.10%
  • Silvergate Bank 1.07% APY 1.08%
  • GE Capital Bank 1.04% APY 1.05%
Author: Brian McKay
August 11th, 2014

The stage is finally being set for higher CD rates during the first 6 months of 2015. Ever since the financial crisis and recession, CD rates and all deposit rates have been low. We have been dealing with these low rates for over 5 years now though it has seemed even longer. The Federal Reserve lowered the fed funds rate to a record low of zero percent to one quarter percent in December 2008.

The Fed’s policy has sent average 1 year CD rates down 0.20 percent, which is a record low. Many banks set 1 year rates to lower average rates and even as low as zero percent. Banks weren’t interested in collecting deposits because they weren’t lending money. Even if they need money, they could borrow from the fed and other banks (overnight rate) for next to nothing.

Now that banks are willing to lend again and are loosening mortgage loan requirements, they are more interested in collecting deposits. Once the Fed increases the fed funds rate, banks will be even more inclined to increase deposit rates. The last pieces of the puzzle are a stronger economy, a higher inflation rate, and a lower unemployment rate.

While first quarter GDP contracted a sharp 2.9 percent due to the cold weather, second quarter GDP is expected to bounce back. Current estimates are for second quarter growth to expand 3.00 percent. Inflation is finally picking up. The consumer price index (CPI) increased 0.4 percent for May and is up 2.1 percent the past 12 months. The unemployment rate fell to 6.1 percent in June, which is the lowest point since September 2008.

We look for the Fed to increase the fed funds rate sometime during the first or second quarter of 2015. There is a slight chance the rate might even be increased in the final quarter of 2014. The current fed funds rate is near zero percent, so the Fed will have to act quickly to stay ahead of the inflation.

The rate will probably be increased in 0.25 percent increments throughout 2015. The Fed’s own predictions are for the rate to be at 1.00 percent by the end of 2015. Some Fed committee members expect the rate to be increased even higher and one Fed official predicts the rate will need to be increased to 3.00 percent.

A 3.00 percent federal funds rate would send 12 month certificate of deposit rates to about 3.00 percent. The best CD rates on 1 year certificates of deposit will probably be above 4.00 percent. We haven’t seen 1 year rates that high in over 6 years.

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CD Rates

CD Rates | Best Certificate of Deposit Rates

Author: Brian McKay
July 16th, 2014

Banks are finally starting to increase CD rates on both short term and long term certificates of deposit. It is nice to see CD rates move higher after 5 years of watching rates fall. Listed below are the best CD rates for CD terms of 6 months to 5 years.

6 Month CD Interest Rates

  • Zions Direct 1.00% APY 1.00%
  • Doral Direct 0.87% APY 0.87%
  • EH National Bank 0.80% APY 0.80%
  • AloStar Bank of Commerce 0.75% APY 0.75%
  • Colorado Federal Savings Bank 0.70% APY 0.70%
  • My e-BAnC by BAC Florida Bank 0.70% APY 0.70%
  • Discover Bank 0.65% APY 0.65%
  • VirtualBank 0.65% APY 0.65%

1 Year CD Interest Rates

  • Synchrony Bank 1.09% APY 1.10%
  • EverBank 1.09% APY 1.10%
  • GE Capital Bank 1.09% APY 1.10%
  • VirtualBank 1.06% APY 1.07%
  • My e-BAnC by BAC Florida Bank 1.05% APY 1.06%
  • Silvergate Bank 1.01% APY 1.01%
  • Colorado Federal Savings Bank 1.00% APY 1.00%
  • Discover Bank 1.00% APY 1.00%
  • Home Savings Bank 1.00% APY 1.00%
  • Salem Five 1.00% APY 1.00%
  • The Palladian PrivateBank 1.00% APY 1.00%

2 Year CD Interest Rates

  • EverBank 1.25% APY 1.26%
  • Virtual Bank 1.25% APY 1.26%
  • Salem Five 1.24% APY 1.25%
  • Synchrony Bank 1.19% APY 1.20%
  • GE Capital Bank 1.19% APY 1.20%
  • California First National Bank 1.19% APY 1.20%
  • Silvergate Bank 1.15% APY 1.16%
  • Barclays Bank 1.14% APY 1.15%
  • Discover Bank 1.14% APY 1.15%
  • My e-BAnC by BAC Florida Bank 1.14% APY 1.15%

3 Year CD Interest Rates

  • EverBank 1.44% APY 1.45%
  • Intervest National Bank 1.44% APY 1.45%
  • Sallie Mae 1.44% APY 1.45%
  • Virtual Bank 1.35% APY 1.36%
  • Synchrony Bank 1.34% APY 1.35%
  • Barclays Bank 1.34% APY 1.35%
  • GE Capital Bank 1.34% APY 1.35%
  • My e-BAnC by BAC Florida Bank 1.29% APY 1.30%
  • State Farm Bank 1.29% APY 1.30%
  • AloStar Bank of Commerce 1.29% APY 1.30%
  • California First National Bank 1.29% APY 1.30%

5 Year CD Interest Rates

  • EverBank 2.27% APY 2.30%
  • Synchrony Bank Optimizer Plus 2.27% APY 2.30%
  • Barclays Bank 2.23% APY 2.25%
  • GE Capital Bank 2.23% APY 2.25%
  • State Farm Bank 2.08% APY 2.10%
  • Virtual Bank 1.99% APY 2.01%
  • BBV Compass 1.98% APY 2.00%
  • Salem Five 1.98% APY 2.00%
  • Discover Bank 1.93% APY 1.95%
  • Intervest National Bank 1.92% APY 1.94%

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CD Rates

CD Rates | Best Certificate of Deposit Rates

Author: Brian McKay
July 2nd, 2014

The good news is banks are finally starting to increase the rates they pay on certificates of deposit, the bad news is any major increases in rates won’t come until sometime next year when the Fed increases the fed funds rate. The past couple of months many banks have increased their long term and intermediate term CD rates to lock in depositors at today’s low rates.

About ten banks on our rate table are now offering 1 year CD rates at or above 1.00 percent. Three different banks have increased their 1 year rates and now have the best 1 year rate available on our list. GE Capital Retail Bank, Synchrony Bank and EverBank have increased their CD rates from 1.05 percent to 1.10 percent APY.

2 Year, 3 year and 5 year CD rates have also gone higher as banks are counting on locking in depositors into lower long term rates before rates move higher. After years and years of very low rates you might be enticed to jump on a longer term CD to earn a better rate but that would be a mistake.

For example, the highest 5 year CD rates right now are around 2.30 percent but by late 2015 or early 2016 we will probably see 1 year bank CD rates around 3.00 percent. Therefore it is better to stay invested in shorter term CDs with terms of 1 year or less. Listed below are the best 3 month, 6 month and 1 year CD rates available right now.

3 Month CD Rates

  • EverBank 0.45% APY
  • Alostar Bank of Commerce 0.45% APY
  • Virtual Bank 0.40% APY
  • Barclays Bank 0.35% APY
  • Discover Bank 0.35% APY
  • First Internet Bank of Indiana 0.35% APY
  • Ally Bank 0.30% APY
  • USAA 0.30% APY
  • E-LOAN 0.25% APY
  • EH National Bank 0.20% APY
  • giantbank.com 0.20% APY
  • TAB Bank 0.20% APY

6 Month CD Rates

  • Zions Direct 1.00% APY
  • Doral Direct 0.87% APY
  • AloStar Bank of Commerce 0.75% APY
  • Colorado Federal Savings Bank 0.70% APY
  • EH National Bank 0.70% APY
  • My e-BAnC by BAC Florida Bank 0.70% APY
  • GE Capital Bank 0.70% APY
  • Discover Bank 0.65% APY
  • Virtual Bank 0.65% APY
  • Ally Bank 0.60% APY
  • First Internet Bank of Indiana 0.60% APY

1 Year CD Rates

  • Synchrony Bank 1.09% APY 1.10%
  • GE Capital Bank 1.09% APY 1.10%
  • EverBank 1.09% APY 1.10%
  • Virtual Bank 1.06% APY 1.07%
  • My e-BAnC by BAC Florida Bank 1.05% APY 1.06%
  • California First National Bank 1.04% APY 1.04%
  • Silvergate Bank 1.01% APY 1.01%
  • Colorado Federal Savings Bank 1.00% APY 1.00%
  • Home Savings Bank 1.00% APY 1.00%
  • The Palladian PrivateBank 1.00% APY 1.00%
  • Ally Bank 0.95% APY 0.95%
Author: Brian McKay
June 27th, 2014

Synchrony Bank CD Rates are some of the best CD rates available right now. The bank’s 1 year “Optimizer Plus” CD rate tops our list of the best rates at 1.09 percent with an APY of 1.10 percent.  Synchrony Bank, is part of the new Synchrony Financial spun off by General Electric, which was formally known as GE Financial.

GE has filed plans with the Securities and Exchange Commission  to IPO Synchrony Financial sometime in 2014. Ever since the financial crisis when GE Financial almost dragged GE to ruin the parent company wanted to be less reliant on the financial division. GE Capital is still once of the largest divisions for GE, reporting $44.1 billion in revenue last year, or about 30 percent of GE’s overall consolidated revenue.

Synchrony Bank’s CD rates on their 5 year Optimizer Plus certificate of deposit also has one of the highest CD rates available. Synchrony Bank’ 5 year CD rate is currently at 2.25 percent for account balances under $25k and at 2.30 percent for account balances over $25k.

The bank is also offering a special promotional 15 month certificate of deposit. The current 15 month Optimizer Plus CD rate is at 1.15 percent with an APY of 1.15 percent. You have to use offer code BON12 and the account can only be opened online. Listed below are the bank’s current CD rates on CD terms of 3 months to 60 months.

CD Rates for Balances of $25,000 to $49,999

  • 3 Month APY 0.35%
  • 6 Month APY 0.65%
  • 9 Month APY 0.70%
  • 1 Year APY 1.10%
  • 18 Month APY 1.05%
  • 2 Year APY 1.15%
  • 3 Year APY 1.30%
  • 4 Year APY 1.75%
  • 5 Year APY 2.30%

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CD Rates

 

Author: Brian McKay
June 6th, 2014

There is a new top CD rate on our 1 year certificate of deposit rate list this week as two banks increased their CD rates. GE Capital Retail Bank and EverBank are now offering 1 year CD rates at 1.09 percent with an APY of 1.10 percent. Last week the best 1 year CD rate was from VirtualBank at 1.06 percent with an APY of 1.07 percent.

The past few months we have seen more and more banks and credit unions increase CD rates. As of May 29, 2014, there are now eleven banks and credit unions offering 1 year CD rates at or above 1.00 percent. This time last year, there were only 5 banks and credit unions offering 1 year rates at least 1.00 percent.

In the most recent FDIC Weekly Rates and Rate Cap Survey, 1 year CD rates are averaging 0.20 percent. 1 year jumbo CD rates are only slightly higher at 0.21 percent, still well below the highest rates available.

Highest CD Rates on 1 Year Certificates of Deposit

  1. GE Capital Retail Bank 1.09% APY 1.10%
  2. EverBank 1.09% APY 1.10%
  3. VirtualBank 1.06% APY 1.07%
  4. My e-BAnC by BAC Florida Bank 1.05% APY 1.06%
  5. GE Capital Retail Bank Optimizer Plus 1.04% APY 1.05%
  6. Silvergate Bank 1.01% APY 1.01%
  7. Colorado Federal Savings Bank 1.00% APY 1.00%
  8. Home Savings Bank 1.00% APY 1.00%
  9. Salem Five 1.00% APY 1.00%
  10. The Palladian PrivateBank 1.00% APY 1.00%
  11. Silvergate Bank 0.99% APY 1.00%
Author: Brian McKay
May 28th, 2014

The Federal Reserve Open Market Committee has kept their key benchmark interest rate, the federal funds rate, at a record low for over 5 years now. The Fed’s policy has forced bank CD rates and all deposit rates down to record lows as well. The majority of banks and credit unions are offering 1 year CD rates, savings rates and money market account rates below 1.00 percent.

Average deposit rates reported by the FDIC are also down at record lows. The FDIC’s current national average 1 year CD rate is at 0.20 percent, average money market rate is at 0.08 percent, average savings rate is at 0.06 percent and the average checking account rate is at 0.04 percent.

The majority of deposit account rates are so low your investments won’t even kept up with the rate of inflation. The Consumer Price Index (CPI) increased 1.5 percent for the past 12 months ending in March. Finding the highest rates available right now is more crucial than ever. Even finding the highest rates on short term certificates of deposit or variable rate accounts you won’t kept up with the current inflation rate.

What is one to do? Invest in U.S. Treasuries? If you think deposit rates are low right now, equivalent U.S. Treasuries with the same term pay even less. The best 3 month CD rates pay 0.45 percent while 3 month U.S. Treasury yields pay a measly 0.03 percent.

The highest CD rates on 1 year certificates of deposit have a current rate of 1.06 percent with an APY of 1.07 percent. Current 12 month U.S. bond yields are at 0.10 percent. Even longer term CD rates are higher than bond yields. The best 5 year CD rates around this week are at 2.30% APY and 5 year bond rates are at 1.62 percent.

Investing in bonds instead of CDs won’t get you a higher return plus you can risk losing some of your principal if bond prices move down and you  sell before the bonds mature. If you’re looking to preserve and not risk any of your principal your investments won’t keep up with the rate of inflation these days.

The days of very low interest rates are going to come to an end in 2015 and possibly sooner if inflation picks up. The Fed has forecasted a need to increase the federal funds rate sometime in 2015 which will force banks and credit unions to increase deposit rates. Therefore it makes sense to stay invested in shorter term certificates of deposit or variable interest rate accounts. When rates move higher next year you can be in a position to earn a higher return.

Author: Brian McKay
May 15th, 2014

We have a new rate leader on our 1 year certificate of deposit rate list. Virtual Bank recently increased their 1 year CD rates to 1.06 percent with an APY of 1.07 percent. GE Capital Retail Bank and ableBanking, a division of Northeast Bank used to have the top yield at 1.05 percent APY.

Truth be told, a 0.02 percent yield difference won’t make much of a difference in the amount of interest you can earn. Your deposit amount will probably determine which bank you choose. GE Capital Retail Bank has a minimum deposit of $500, ableBanking’s minimum deposit is $1,000 and Virtual Bank has a minimum deposit of $10,000.

I have to admit, it is nice to write about a bank increasing their CD rates since I have been writing about banks lowering their CD rates for years. The past year some banks and credit unions have increased the rates they pay on certificates of deposit but any mass increases from the majority ofl banks won’t come until the Federal Reserve increases the federal funds rate.

Virtual Bank also increased their 2 year CD rates and now has the best 2 year CD rate on our list of rates. Virtual Bank’s 2 year CD rate is at 1.25 percent with an APY of 1.26 percent. Salem Five used to have the top rate at 1.24 percent with an APY of 1.25 percent. Both banks have a minimum opening deposit of $10,000 to earn the rate and yield.

Listed here are the highest CD rates on certificates of deposit with terms of 3 months to 5 years.

3 Month CD Rates

  • AloStar Bank of Commerce 0.45% APY
  • VirtualBank 0.40% APY
  • Discover Bank o.35% APY
  • Barclays Bank 0.35% APY
  • First Internet Bank of Indiana 0.35% APY

6 Month CD Rates

  • Zions Direct 1.00% APY
  • Doral Direct 0.87% APY
  • AloStar Bank of Commerce 0.75% APY
  • GE Capital Retail Bank 0.70% APY
  • Colorado Federal Savings Bank 0.70% APY
  • My e-BAnC by BAC Florida Bank 0.70% APY
  • EH National Bank 0.70% APY

1 Year CD Rates

  • Virtual Bank 1.06% APY 1.07%
  • ableBanking, a division of Northeast Bank 1.05% APY 1.05%
  • GE Capital Retail Bank Optimizer Plus 1.04% APY 1.05%
  • GE Capital Retail Bank 1.04% APY 1.05%
  • Silvergate Bank 1.01% APY 1.01%
  • My e-BAnC by BAC Florida Bank 1.00% APY 1.01%

2 Year CD Rates

  • Virtual Bank 1.25% APY 1.26%
  • Salem Five 1.24% APY 1.25%
  • CIT Bank 1.19% APY 1.20%
  • Silvergate Bank 1.15% APY 1.16%
  • GE Capital Retail Bank 1.14% APY 1.15%
  • AloStar Bank of Commerce 1.14% APY 1.15%
  • Barclays Bank 1.15% APY 1.15%

3 Year CD Rates

  • Intervest National Bank 1.44% APY 1.45%
  • Barclays 1.34% APY 1.35%
  • GE Capital Retail Bank 1.29% APY 1.30%
  • AloStar Bank of Commerce 1.29% APY 1.30%
  • EverBank 1.25% APY 1.26%
  • California First National Bank 1.24% APY 1.25%
  • Discover Bank 1.24% APY 1.25%

5 Year CD Rates

  • GE Capital Retail Bank Optimizer Plus 2.23% APY 2.25%
  • Barclays Bank 2.23% APY 2.25%
  • EverBank 2.18% APY 2.20%
  • iGObanking.com 2.13% APY 2.15%
  • GE Capital Retail Bank 2.08% APY 2.10%

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CD Rates

CD Rates | Best Certificate of Deposit Rates

 

 

Author: Brian McKay
April 23rd, 2014

The rise in long term bond interest rates has stabilized as the Federal Reserve continues to taper their purchases of long term bonds. The increase in long term CD rates has also slowed by hopefully will pickup again later in 2014 as banks try to get ahead of the rate curve and lock in deposits at lower rates.

 

Best CD (Certificate of Deposit) Rates April 2, 2014

6 Month CD Rates

  • Zions Direct 1.00% APY 1.00%
  • Doral Direct 0.87% APY 0.87%
  • AloStar Bank of Commerce 0.75% APY 0.75%
  • GE Capital Bank 0.70% APY 0.70%

1 Year CD Rates

  • GE Capital Retail Bank Optimizer Plus 1.04% APY 1.05%
  • GE Captial Bank 1.04% APY 1.05%
  • My e-BAnC by BAC Florida Bank 1.00% APY 1.01%
  • VirtualBank 1.00% APY 1.01%

2 Year CD Rates

  • GE Capital Retail Bank Optimizer Plus 1.19% APY 1.20%
  • CIT Bank 1.19% APY 1.20%
  • GE Captial Bank 1.14% APY 1.15%
  • Barclays Bank 1.14% APY 1.15%

3 Year CD Rates

  • Intervest National Bank 1.44% APY 1.45%
  • GE Capital Retail Bank Optimizer Plus 1.34% APY 1.35%
  • Barclays Bank 1.34% APY 1.35%
  • EverBank 1.30% APY 1.31%

5 Year CD Rates

  • EverBank 2.24% APY 2.25%
  • GE Capital Retail Bank Optimizer Plus 2.23% APY 2.25%
  • Barclays Bank 2.13% APY 2.15%
  • iGObanking.com 2.13% APY 2.15%

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CD Rates | Best Certificate of Deposit Rates

CD Rates

Author: Brian McKay
April 2nd, 2014

Average CD rates have been slowly drifting higher late last year and early in 2014. Only a small number of banks and credit unions have increased their CD rates the past six months, so the average increases have been small. One of the biggest increase in CD rates in our database came from a credit union, Pentagon Federal Credit Union (PenFed).

A few months ago PenFed increased their CD rates and became the leader on our tables for CD terms of 1 year through 5 years. PenFed had been offering a 5 year CD rate at 3.00 percent but has since dialed back their 5 year CD rates and no longer have the best rate. The credit union lowered their 5 year rate down to 2.00 percent, which is more in line with what banks are offering for 5 year CD rates.

Higher CD Rates in 2015

Overall, we won’t see much higher CD rates until the Federal Open Market Committee (FOMC) increases the federal funds rate. The FOMC has the current fed funds rate in a targeted range of zero percent to one quarter percent. This policy has been in place since December 2008 and as a result has kept deposit rates low for many years now.

A majority of Committee members don’t believe there will be a need to increase the fed funds rate until sometime in 2015. If the Committee is right about the fed funds rate, don’t expect bank CD rates, savings rates, and all interest rates to move much higher before then. We will still see some banks and credit unions increase their rates in 2014, but the increases won’t be much higher than where the top rates are right now.

For example, right now the best CD rates on our 2 year certificates of deposit rate table are at 1.25 percent with an APY of 1.26 percent. By the end of 2014, the best CD rates on 2 year certificates of deposit will probably max at 1.50 percent.

Current 2 Year CD Rates

PenFed has the highest 2 year CD rate this week at 1.26 percent APY but you have to join PenFed to open an account. Like any credit union, there are membership requirements to join. You can see if you’re eligible here: PenFed Membership. If you don’t want to join a credit union you can still get a really good 2 year rate.

The top bank CD rates right now on our 2 year rate list are just below PenFed’s rate. The best 2 year bank rate on our database this week is from AloStar Bank of Commerce at 1.24 percent with an APY of 1.25 percent. CIT Bank CD rates on 2 year certificates of deposit are third on our list this week with a rate of 1.19 percent with an APY of 1.20 percent.

Top 1 year CD Rates

The best CD rates on 1 year certificates of deposit this week are also from PenFed and AloStar Bank of Commerce. PenFed’s current 1 year CD rate is at 1.15 percent with an APY of 1.16 percent. AloStar Bank of Commerce 2 year rate is at 1.09 percent with an APY of 1.10 percent.

The third top rate this week is from both CIT Bank and GE Capital Retail Bank. Both banks are offering 1 year rates at 1.04 percent with an APY of 1.05 percent. Both banks require a minimum opening deposit of $25,000 to earn a 1.04 percent rate.

Highest 3 Year CD Rates

The highest 3 year certificate of deposit rates this week are from PenFed and Intervest National Bank. PenFed’s current 3 year CD rate is at 1.50 percent with an APY of 1.51 percent. Intervest National Bank’s current 3 year rate is at 1.44 percent with an APY of 1.45 percent.

The third top rate this week on our 3 year CD rate list is from two different banks, AloStar Bank of Commerce and Barclays Bank. Both banks are offering a 3 year rate of 1.34 percent with an APY of 1.35 percent.

Best 4 Year CD Rates

PenFed tops our 4 year CD rates list this week offering a rate of 1.75 percent with an APY of 1.76 percent. The second top rate this week is at 1.73 percent with an APY of 1.75 percent on GE Capital Retail Bank’s Optimizer Plus CD account. Nationwide Bank has the third top rate this week at 1.66 percent with an APY of 1.67 percent.

Best 5 Year CD Rates

We have two banks offering the top 5 year CD rate in our database this week. Barclays Bank and iGObanking.com are both offering a 5 year rate of 2.13 percent with an APY of 2.15 percent. The second best 5 year rate is on GE Capital Retail Bank’s Optimizer Plus CD at 2.08 percent with an APY of 2.10 percent.

Interest rates fluctuate often. Be sure to check on the most current rates by searching our rate tables daily.

Author: Brian McKay
February 14th, 2014

Since early spring this year, long term bond rates have been moving higher while long term CD rates started moving higher late in 2013. Initially, bond rates moved higher on the prospect of the Federal Reserve tapering their purchasing of long term bonds and mortgage backed securities. These purchases have artificially suppressed interest rates to spur economic growth.

Some banks and credit unions finally started increasing their rates, most likely in response to long term bond rates moving higher. Bonds rates and certificate of deposit rates are not intertwined, but both usually move higher or lower in tandem. Rates are more dependent on the economy, inflation, and most importantly, whether or not the Federal Reserve is increasing or lowering the federal funds rate.

10 Year Bond Rates Move Above 3.00 Percent

The Federal Reserve didn’t slow their purchases at all this year but long term rates never dropped back to the lows of early 2013. In December’s Fed meeting, the Fed Committee members voted to start tapering from $85 billion a month in purchases to $75 billion a month, starting January 2014.

As a result of this announcement, 10 year bond rates continue to rise and are currently at 3.01 percent, almost doubling from the low of 1.66 percent set in May of 2013. This is the highest point for 10 year rates in over 2 years and rates will continue to move higher in 2014.

5 Year CD Rates Increase, Best 5 Year CD Rate at 3.04% APY

Earlier this year, the best CD rates on 5 year certificates of deposit were around 1.50 percent and rates have finally started moving higher. Just about three months ago, we started seeing a handful of banks increase their 5 year CD rates above 2.00 percent. While a .50 percent increase is small, it’s still a relief to finally see higher CD rates after many years of lower and lower rates.

Last month a credit union outdid any bank on our rate list by increasing their CD rate above 3.00 percent. Pentagon Federal Credit Union (PenFed), increased their 5 year CD rates to 3.00 percent with an APY of 3.04 percent. PenFed also increased their 7 year CD rates to 3.00 percent with an APY of 3.04 percent.

2014 Forecast for Bond Rates and CD Rates

Long term bond rates will move higher in 2014 as the Federal Reserve slowly tapers their purchases until the purchasing ends, which they announced will happen at the end of 2014. Current 10 year bond rates, which are near 3.00 percent will probably end 2014 somewhere between 4.00 percent and 5.00 percent.

Long term CD rates will also move higher in 2014 but not to the same levels as 10 year bond yields. Some banks and credit unions will increase 5 year CD rates to the 4.00 percent range while average 5 year rates will remain much lower, around 2.00 percent to 2.50 percent.

Shorter term CD rates will see some increases, but overall rates will remain near current levels until the Federal Reserve increases the federal funds rate, most likely not until 2015.

The highest CD rates on 1 year certificates of deposit are just above 1.00 percent right now. Next year, the highest 1 year rates will move above 1.50 percent and possibly as high as 2.00 percent, depending on where growth is throughout 2014.

Author: Brian McKay
December 27th, 2013

Finally! After about 5 years I can write about a bank or credit union actually increasing their CD rates by a big margin. Pentagon Federal Credit Union recently increased the rates they pay on several certificate accounts (certificates of deposit). The largest increase in CD rates was on PenFed’s 5 year and 7 year accounts.

Until about two days ago, PenFed had 5 year CD and 7 year CD rates of just above 2.00 percent. Now the rates have been increased to 3.00 percent with an APY of 3.04 percent. With the increase in these rates, PenFed has blown away the competition. It will be interesting to see if any other credit unions or banks follow with higher CD rates.

Long term CD rates weren’t the only rates that were increased. PenFed also increased 2 year CD rates to 1.40 percent with an APY of 1.41 percent. The prior 2 year CD rate was at 1.25 percent with an APY of 1.26 percent. 3 year CD interest rates were increased to 2.00 percent with an APY of 2.02 percent. 4 year rates were increased to 2.20 percent with an APY of 2.22 percent.

PenFed now has the best CD rates for most CD terms on our rate lists. As with any credit union, to open a PenFed money market certificate (CD account) you have to be a member. There are also membership requirements to open an account. You can find out more by going to penfed.com.

Author: Brian McKay
December 3rd, 2013

Mortgage rates followed bond rates higher this Veterans Day while CD rates remain at current levels. On Friday, the October nonfarm payrolls report came in much stronger than any analysts expected, despite the federal government shutdown. For the month of October, 204,000 nonfarm jobs were created, much higher than the market forecast which ranged from expectations of 85,000 to 100,000.

The news sent long term bond rates higher as markets feared an end to quantitative easing by the Federal Open Market Committee (FOMC). Whether or not the FOMC slows their easing sooner than later remains to be seen. The next two nonfarm payrolls reports will also have been affected by the federal government shutdown, clouding the numbers.

Average 30 year conventional mortgage rates increased to 4.27 percent today, up from an average 30 year mortgage rate of 4.15 percent last Thursday. 10 year bond rates which closed on Thursday at 2.61 percent are now trading at 2.75 percent. During this time, the best CD rates on 1 year certificates of deposit remain stable at 1.05 percent APY.

FOMC Will Keep a Lid on Interest Rates Until 2014

Another factor coming into play as to when the FOMC will either start to slow or end their easing is if Janet Yellen is confirmed as the new Fed Chair. Yellen, who was picked for the job by President Obama, was thought to be a shoe-in for the job but politics are coming into play that may block her confirmation.

Lindsey Graham, the Senator from South Carolina, has stated he will block Yellen’s conformation until he gets more answers on Benghazi. Yellen has been in favor of keeping the easing going longer than most of her colleagues on the Fed Committee.

In the past, Yellen has stated the Fed should keep the federal funds rate at the current level, near zero percent, until the unemployment rate falls to 5.5 percent. The FOMC’s stated position has been to keep it near zero percent until the unemployment rate falls below 6.5 percent.

Either way it looks like the FOMC won’t start slowing their purchases until sometime early in 2014. The Fed won’t increase the federal funds rate until the summer of 2014.

Mortgage Rates and CD rates Will Remain Near Current Levels

For the rest of 2013, bond rates and mortgage rates will fluctuate in current ranges. The FOMC isn’t expected to lighten up on their purchases of long term bonds and mortgage-backed securities (MBS) in 2013. The FOMC will also keep the fed funds rate at near zero percent for the rest of the year.

This will keep a lid on how high interest rates move, which will be more dependent on economic data that is released. 10 year bond rates will remain under 3.00 percent and probably trade in a range of 2.50 percent to 2.90 percent. 30 year conforming mortgage rates will trade in a range of 4.20 percent and 4.70 percent.

CD rates on short term certificates of deposit won’t change at all since those rates aren’t tied to the direction of bond rates. Bank CD rates will move higher when the FOMC increases the fed funds rate, which shouldn’t be until 2014.

Author: Brian McKay
November 11th, 2013

Since the third week of September, short term interest rates on bonds have been heading sharply higher but unfortunately, CD rates and other deposit rates haven’t moved much higher. We won’t see higher interest rates on certificates of deposits and other deposit accounts until the Federal Open Market Committee (FOMC) increases the federal funds rate, which isn’t expected to happen until sometime in 2014.

Interest Rates Moved Higher the Past Month

First it was the threat of a government shutdown, in which we are now in day 15 of the shutdown, driving rates higher. Then the possibility of the U.S. defaulting on its debt for the first time in history added to the increase in rates. The threat of default has had the greatest impact on driving interest rates higher on short term bonds.

1 month bond rates have been affected the most the past month, moving from zero percent one day in late September to 0.27 percent on Wednesday. Yesterday there were finally positive signs of hope that the Democrats and Republicans would avoid a debt default and possibly open the government early next week.

Possible Debt Ceiling Deal Hasn’t Lowered Interest Rates Yet

The positive news so far hasn’t forced interest rates lower. 1 month bond rates decreased only 2 basis points on the news, closing at 0.25 percent on Thursday. The markets are probably waiting until a deal is actually reached and finalized.

The deal that is being circulated is a short term deal, probably only 6 weeks which could be another reason why interest rates haven’t fallen on the news. Putting off another a fight for 6 weeks just to revisit the same issues again isn’t calming the markets. Even if Obamacare is off the table, there are still fundamental differences between Republicans and Democrats on the role of the government.

Mortgage Rates Have Fallen the Past Month

While short term bond rates have skyrocketed the past month, long term bond rates have actually fallen. This is positive news for mortgage rates which are tied to long term bond yields. The housing market is still recovering and any sharp rise in mortgage rates will kill the recovery.

We already had a sharp run-up in mortgage rates over the summer on fears the FOMC would stop buying long term bonds and mortgage-backed securities. When the FOMC decided to continue their purchases, mortgage rates started moving lower.

Future Direction of CD Rates and Mortgage Rates

First lets break this down to two categories, short term direction and long term direction of interest rates. Over the next few months, short term interest rates will still be held hostage by what happens in Washington D.C.  What will likely happen is that deals will be reached on the debt limit and continuing resolution to fund the government.

These developments will send short term bond rates lower from current levels. CD rates, savings rates, and money market rates which haven’t moved higher during the past month will remain near current levels. Right now the best CD rates on 3 month certificates of deposit are at 0.45 percent. The highest CD rates on 1 year certificates of deposit are at 1.10 percent.

Mortgage rates today on 30 year conforming loans are averaging 4.27 percent will fall from current levels. The direction of mortgage rates are less dependent on what comes out of Washington and more dependent on what the FOMC does. Markets still believe the FOMC will start tapering their purchases and any hint of this actually happening will send mortgage rates higher.

30 year conforming mortgage rates could fall back below 4.00 percent in the coming months if the FOMC doesn’t taper. If the FOMC does slow or stop their purchases, average mortgage rates on 30 year conforming loans will soar back above 5.00 percent.

Author: Brian McKay
October 15th, 2013

The Federal Open Market Committee (FOMC) has their two day meeting next week to decide the future direction of monetary policy. Analysts believe the FOMC will keep the federal funds rate at zero percent to ¼ percent, which is the range the rate has been in since December 2008. What most analysts believe the FOMC will change is tapering their purchases of long term U.S. Treasuries and mortgage-backed securities (MBS).

How will these two policies affect both short term and long term bank CD rates? Keeping the fed funds rate near zero percent will keep short term CD rates at current levels. If the FOMC does making an announcement about buying less than the current levels, $85 billion a month, in Treasuries and MBS purchases long term CD rates will move higher.

Fixed Mortgage Rates Higher Will Also Move Higher

FOMC Meets Next Week to Decide Policy are Interest Rates Headed HigherThe possibly of this the FOMC decreasing their purchases has already sent long term bond rates much higher over the past four months. 10 year bond yields hit a low point of 1.62 percent in early May are just under 3.00 percent this morning. This has sent fixed mortgage rates higher since lenders peg mortgage rates to long term bond rates.

Fixed mortgage rates on both conforming and jumbo loans have increased over 125 basis points, or 1.25 percent since early May. Average 30 year conforming mortgage rates today are at 4.67 percent and average 30 year jumbo mortgage rates are at 4.86 percent.

Right after meeting on Sept 17 and 18, the FOMC will release a statement. If there is any mention of slowing down purchases, 10 year bond yields will move above 3.00 percent and probably as high as 3.25 percent by the end of the week. This will send average 30 year conforming mortgage rates near 5.00 percent and 30 year jumbo mortgage rates to 5.25 percent.

Long Term CD Rates Will Increase

The best CD rates on 5 year certificates of deposit will also move higher, probably as high as 2.25 percent. The highest 5 year CD rates right now on our rate list are at 2.03 percent with an APY of 2.05 percent. Back in early May, the highest 5 year CD rates were around 1.50 percent.

While the best 5 year rates have moved higher, average 5 year CD rates haven’t gone anywhere. The FDIC’s Weekly Rates and Rate Cap survey in early May had 5 year CD rates averaging 0.75 percent. The most recent FDIC report released on September 3 had the average 5 year rate at 0.74 percent.

Short Term CD Rates Will Increase in 2014

While some banks have already increased long term CD interest rates, the majority of banks won’t increase short term CD rates until the FOMC increases the fed funds rate. The FOMC has stated they plan on keeping the rate near zero percent until the nation’s unemployment rate falls below 6.5 percent. The unemployment rate for the month of August was 7.3 percent, down 0.1 percent from the prior month.

The decline in the unemployment rate has been about 0.1 percent each month for the past year. If the current trend continues it will take another 8 months to reach a level of 6.5 percent. 8 months from August’s report would take us to April’s report, which will be released the first Friday in May of 2014.

Even if the rate hits 6.5 percent in the April 2014 report, the FOMC doesn’t meet until mid-June to decide interest rate policy. If this scenario plays out, the next fed fund rate increase might come after the two day meeting set for June 17 and 18. Soon after banks will increase deposit rates.

Of course, the Fed could hold an unscheduled meeting and increase the rate before the June meeting but that is unlikely. Incidentally, the Fed Chairman, Ben Bernanke, is scheduled to hold a press conference right after the scheduled June meeting. This would be a good time to explain to the public why they are increasing the fed funds rate.

Interest Rates Will Rise Sharply in 2014

The fed funds rate has been so low for so long in order to accommodate growth that the Fed would have to increase the rate dramatically just get the rate to a neutral point. A neutral point is where the rate isn’t stimulating demand or constricting growth for goods and services. That point, with the current inflation rate at 1.7 percent, would be a fed funds rate near 2.00 percent.

The Fed won’t increase the rate from zero percent to 2 percent in just one increase. They will do it over several months next year. The FOMC has four more scheduled meetings after the June 2014 meeting. The Fed will probably make a series of 0.50 percent increases in the Fed funds rate until it reaches 2.00 percent.

Banks will start increasing interest rates on deposit products such as certificates of deposit, savings accounts, and money market accounts. The increases will also come in steps over the second half of 2014.

Stay Invested in Short Term CDs, Savings or Money Market Accounts

Make no mistake, interest rates are moving higher. Long term CD rates will move higher in 2013 but I wouldn’t lock in to a long term certificate of deposit this year because rates are so low. The smart money is staying invested in shorter term certificates of deposit, savings accounts, and money market accounts to be able to ride the rate increases higher.

Author: Brian McKay
September 10th, 2013

Chances are you know how a traditional certificate of deposit works. You invest a certain amount of money for a certain time period, anywhere from 1 month to 10 years, and your investment receives a fixed rate of interest. If you opened a certificate of deposit anytime during the last five years, you know how low CD rates are these days.

Although current bank CD rates are near historical lows right now, rates will be moving higher over the next 18 months. If you have a certificate of deposit maturing any time in the next 18 months, you shouldn’t lock into a low CD rate for a long term. Heeding this advice will limit you to investing in shorter CD terms but with shorter term CD accounts come lower CD rates.

Step-Up Certificates of Deposit A Good Investment When Rates are RisingStep-Up Certificate of Deposits

There is an option for you to invest in a long term CD account and still be able to participate when rates move higher. A few banks offer what is called Step-Up certificate of deposits. With these types of accounts, you are able to have the CD interest rate on the account increased anytime after opening the account.

For example, you open up a 48 month CD account right now and the CD rate is at 1.50 percent. Let’s say in 18 months the same bank increases 48 month CD rates to 3.00 percent. At that point, you can ask the bank to increase the CD rate to 3.00 percent. From that point on, your 48 month account earns a rate of 3.00 percent instead of 1.50 percent.

Keep in mind that you’ll have to ask the bank to increase your rate. Don’t count on the bank to automatically increase it when rates move higher. This means you’ll have to keep track of CD rates at your bank. You may also find yourself in a situation when rates moved higher, you ask the bank to increase the rate and then a few months later rates move higher yet again.

Get a Higher CD Rate After the FOMC Meets

Most accounts allow you to increase the interest rate only one time, so make sure you ask at the right time to have your account rate increased. A good course of action to take if you want the rate increased is to check when the Federal Open Market Committee meets. When the FOMC meets, they usually lower or increase the federal funds rate.

In this interest rate cycle, rates will move higher and will probably continue to move higher for several years. So timing when the FOMC increases the fed funds rate may ensure you get a higher rate on your account. FOMC publishes their calendar in advance and you can view the 2013 and 2014 calendar here: FOMC Meeting Calendar.

Some Banks Allow Two CD Rate Increases

On longer term accounts, some banks allow you to increase the interest rate more than once. Ally Bank offers a 48 month account that allows you to ask for a rate increase twice during the 4 year term. Ally Bank’s Raise Your Rate CD currently has a rate of 1.29 percent with an APY of 1.30 percent.

Step-Up Account CD Rates Vs. Traditional Account CD Rates

You can easily compare Step-Up account CD rates with traditional account CD rates. Most of the time you will quickly see that Step-Up accounts usually don’t have the best CD rates available. If you open a Step-Up account now, you will be able increase the rate on Step-Up accounts over time as rates move higher, but you don’t have that option with traditional accounts. This means that in the long run, you may end up with the highest CD rate with the Step-Up account.

Obviously when and if rates increase will determine which account is best to invest in. You won’t really know beforehand but one thing is for sure – rates are low now and will be moving higher for years to come.

Author: Brian McKay
August 29th, 2013

Interest rates on U.S. Treasuries and mortgage rates will retreat from recent gains for a number of reasons. The run-up in interest rates the past three months was on the expectation that the Federal Open Market Committee (FOMC) would curtail their purchases of bonds and mortgage backed securities (MBS).

The increase in long term Treasury yields and mortgage rates was overdone and wasn’t warranted. The most recent FOMC statement released for their July meeting showed no change in plans for purchasing $45 billion a month in longer term U.S. Treasuries and $40 billion a month in MBS. The recent weaker economic data and consumer confidence number will also keep a lid on any increase in interest rates.

Short Term CD Rates, Savings Rates, and Money Market Rates Remain Low

Since early May, yields moved up over 100 basis points on most long term Treasuries. Mortgage rates also moved up over 100 basis points on fixed conforming loans. Unfortunately, short term CD rates, savings rates, and money market rates haven’t moved much higher from record lows. The best CD rates on 1 year certificates of deposit on RatesORama.com are at 1.04 percent. The best savings rates are at 1.00 percent and the best money market rates are at 0.90 percent.

Interest Rates Will Retreat From Recent SurgeFriday’s payroll report for the month of July was disappointing and sent equity markets lower. 10 year bond yields are following equities lower and are down 12 basis points this morning to 2.60 percent, down from the 52 week high of 2.74 percent. A recent report on consumer confidence was released a few days ago and show confidence is at the lowest point since April.

Lower Economic Confidence Index Will Drive Mortgage Rates Lower

Gallup’s Economic Confidence Index for the week ending July 28, registered at -13, the lowest point since April and is 10 points lower than it was in early June. Weak employment news and weak consumer confidence will continue to drive bond yields lower which will in turn drive mortgage rates lower.

The economic calendar of data expected to be released this week is heavy but the only numbers that could force rates lower are initial jobless claims and continuing jobless claims. If either of those numbers come in weaker than expected, 10 year bond yields will move under 2.50 percent.

Small Bump Higher in Long Term CD Rates

Long term average CD rates haven’t moved at all the past several months. Current average 5 year bank CD rates in the FDIC’s national rate survey this week are at 0.74 percent. Back in May, 5 year CD rates at banks were averaging 0.75 percent. While average rates are down slightly the past three months, there are some banks increasing rates.

In late July we had a bank in our database increase 5 year CD rates above 2 percent. Now we have two banks offering 5 year rates above 2.00 percent. iGOBanking increased their 5 year rates to 2.03 percent with an APY of 2.05 percent in late July.  EverBank recently increased their 5 year rates to 2.04 percent with an APY of 2.06 percent.

Author: Brian McKay
August 6th, 2013

We are starting to see an uptrend in long term CD rates because of higher long term bond yields.  We’ve already seen an increase of over 0.25 percent on 5 year CD rates.  Just last month, the best CD rates on 5 year certificates of deposit on our rate list were well below 2.00 percent at 1.73 percent. Now the best CD rates on our 5 year certificate of deposit rate list are at 2.03 percent with an APY of 2.05 percent.

While long term average CD rates are moving higher right now, short term rates are still stuck at low levels and will remain low for the foreseeable future. The highest CD rates this week in our rate database of 1 year certificates of deposit remain at 1.04 percent with an APY of 1.05 percent.

Long Term CD Rates Now Top Out at 205 PercentBank Offering the Highest 5 Year CD Rates

The bank offering the highest CD rate this week on our list is igobanking. Last month the highest rate at 1.73 percent was from EverBank. Whether or not this increase will start a trend remains to be seen. The driving factor keeping CD rates low, a federal funds rate at near zero percent, is still in place.

Fed Funds Rate and CD Rates

For the past couple of years, the Federal Reserve has stated that they plan to keep the fed funds rate near zero percent until the unemployment rate falls below 6.5 percent. The Fed believes the rate will fall below 6.5 percent sometime during 2015. The current unemployment rate is at 7.6 percent. The Fed may wait even longer to increase the fed funds rate if some Fed Governors have their way.

One Fed Governor, Narayana Kocherlakota, the President of Federal Reserve Bank of Minneapolis, believes they should wait until the unemployment rate falls below 5.5 percent to increase the fed funds rate. An unemployment rate of 5.5 percent probably won’t happen until sometime in 2016 or 2017. If the Fed waits until then to increase the fed funds rate, we have another 3 or 4 years of low CD rates.

Long Term CD Rates

3 Year CD Rates

  • Intervest National Bank Rate 1.39% APY 1.40%
  • AloStar Bank of Commerce Rate 1.24% APY 1.25%
  • Barclays Bank Rate 1.24% APY 1.25%
  • Virtual Bank Rate 1.20% APY 1.21%
  • My e-BAnC Rate 1.20% APY 1.21%
  • Ally Bank Rate 1.19% APY 1.20%

4 Year CD Rates

  • EverBank Rate 1.60% APY 1.61%
  • Intervest National Bank Rate 1.50% APY 1.60%
  • Barclays Bank Rate 1.44% APY 1.45%
  • Nationwide Bank 1.41% APY 1.42%
  • Doral Direct Rate 1.32% APY 1.32%
  • TAB Bank 1.30% APY 1.31%

5 Year CD Rates

  • iGoBanking Rate 2.03% APY 2.05%
  • EverBank Rate 1.84% APY 1.86%
  • Intervest National Bank Rate 1.83% APY 1.85%
  • GE Capital Retail Bank Rate 1.73% APY 1.75%
  • Nationwide Bank Rate 1.65% APY 1.66%
  • Barclays Bank Rate 1.64% APY 1.66%

Short Term CD Rates

1 Year CD Rates

  • GE Capital Retail Bank Rate 1.04% APY 1.05%
  • Colorado FSB Rate 1.00% APY 1.00%
  • The Palladain PivateBank Rate 1.00% APY 1.00%
  • Doral Direct Rate 0.95% APY 0.95%
  • EH National Bank Rate 0.95% APY 0.95%
  • Home Savings Bank Rate 0.95% APY 0.95%

2 Year CD Rates

  • GE Capital Retail Bank 1.14% APY 1.15%
  • My e-BAnC Rate 1.10% APY 1.10%
  • The Palladain PivateBank Rate 1.10% APY 1.10%
  • Nationwide Bank 1.09% APY 1.10%
  • AloStar Bank of Commerce Rate 1.09% APY 1.10%
  • Doral Direct Rate 1.08% APY 1.08%

Search for the best CD interest rates at RatesORama.

Author: Brian McKay
July 22nd, 2013

Do you know how you compare with other Americans when it comes to saving and spending? Now you can get a little insight into how “The Joneses” save and spend in a survey done by Northwestern Mutual. The life insurance company surveyed 1,546 Americans on how they save and spend their money. Some of the results are surprising while some are unfortunately not.

One third of Americans believe in a slow methodical pace at saving and investing, “slow and steady wins the race.” 6 in 10 admit their financial planning needs improvement and the biggest barriers to getting on the right financial track is a lack of time and confusion about what to do. I personally don’t understand why time can’t be devoted to personal financial planning. Without clearly defined financial goals, a strong emergency fund or comfortable retirement is far less likely to come to fruition.

Source Northwestern Mutual

Some other interesting results in the survey include what changes had been made regarding financial planning the past three years. 22 percent say they have either taken money out of a retirement account and 22 percent have also said they have stopped or reduced the amount of money they put into a savings account.

This comes as no surprise as the past three years we have come out of the worst recession since the Great Depression. In fact, the recession was so bad it is now referred to as the “Great Recession.” So it’s no surprise that people have dipped into their retirement account for immediate needs as unemployment hit a high of 10 percent a few years ago.

The Great Recession is the same reason people either reduced or stopped saving altogether. Another factor that has put a damper on savings is that interest rates are so low. CD Rates and other deposit rates are so low there is no incentive to save. The best CD rates right now on 1 year certificates of deposit are around 1.00 percent. The best savings rates and money market rates are also at 1.00 percent or just below 1.00 percent.

These are all factors that contribute to lower savings by Americans but the biggest reason they’ve either reduced or stopped savings is unexpected expenses. 52 percent of Americans say unexpected expenses are the most likely reasons to cause them to delay saving money. Generations also differ on where they are with saving.

When asked if they have a lot of catching up to do with their savings, Generation X has the largest percentage of respondents saying they have a lot of catching up to do.  Of Generation Xers, 32 percent of say they have a lot of catching up to do while only 13 percent of the MatureGen say they have to catch up.

You’ll probably see that you’re not much different from others in your generation with your saving and spending habits. You can view Northwestern Mutual’s entire survey here: Planning & Progress 2013.

You can search for the highest CD rates at banks by using our rate tables here: CDRates.RatesORama.com.

Author: Brian McKay
June 27th, 2013

Bank Stress Tests and Rising Interest RatesSince the financial crisis, the nation’s largest banks have to undergo “Stress Tests” semiannually to see how they would perform in different economic scenarios including how the banks would perform if interest rates moved quickly higher in a short period of time. The Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act (DFA) stress tests were designed to help the Federal Reserve ensure that financial institutions have enough capital to withstand a shock to the financial system.

The first stress test this year was performed by the banks and are due on July 5. The results of the mid-year test will be interesting because interest rates on U.S. Treasuries moved considerably higher in the last 45 days. Banks generally do well when bank interest rates are rising. As mortgage rates and other loan rates move higher, the banks charge higher rates which earn the banks more money.

There also is a downside for banks when interest rates move higher. Banks have portfolios of bonds and loans. As interest rates rise, prices of these assets move lower. Granted, if banks hold these assets to maturity, they won’t lose any money but if they have to sell these assets they sell them at a loss. A decline in the value of these assets also alters their balance sheet and their capital ratio, which shows up in the stress tests. Back in 2009 when the first bank stress test was performed, none of the banks failed but many banks had to increase their capital ratio.

Bank of America, JPMorgan Chase and Wells Fargo all indicated that they would lose billions of dollars in the loan and mortgage portfolios if Treasury yields increased by 1 percent or 2 percent. Bruce Thompson, Bank of America’s CFO, said the bank could lose as much as $11 billion in its bond and loan portfolio if interest rates were to rise 1%.

Wells Fargo has indicated they could lose as much as $4.8 billion in their mortgage bond holdings. In JPMorgan Chase’s 2013 Investor Day, the bank said it could see as much as $15 billion in losses if interest rates increase. The Federal Reserve’s stress test in March for JPMorgan Chase show possible cumulative loan loss of $33.9 billion.

We will eventually see the final outcome of higher interest rates over the next year or two. The increase in rates could be rather quick because the Federal Reserve’s key benchmark interest rate, the fed funds rate, has been in a range of zero percent to one quarter percent since December 2008. The Fed would have to increase the fed funds rate quickly just to get to a neutral stance where the rate isn’t stimulating or restricting economic growth.

If inflation does pick up in the coming years and the Fed is behind the curve in raising the fed funds rate, we could see all interest rates move sharply higher in a short period of time. This is the exact same scenario that banks are facing in the current round of tests so the results could be a harbinger of things to come.

One of the benefits of higher interest rates would be higher CD rates, savings rates, and money market rates. This would be a godsend to millions of people who rely on interest income to live. Since the Fed lowered the fed funds rate to near zero percent deposit rates have also fallen to record lows.

Average 12 month certificate of deposit rates in the FDIC national rate survey are at a paltry 0.21 percent. Thankfully, there are 12 month bank CD rates many times the national average. The best CD rates in our database of 12 month certificate of deposit rates are just above 1.00 percent. If you’re searching for rates be sure to check our rates at RatesORama.com.

Author: Brian McKay
June 17th, 2013

Most people are aware that banks and credit unions issue certificates of deposit but are surprised to learn brokerage firms also issue certificates of deposit. While the concept of a brokered CD is similar to a bank CD, there are a few fundamental differences you should be aware of before investing in a brokered CD account.

These days both regular bank CD rates and brokered CD rates are low so don’t expect to see much of a difference in the interest rate between these types of accounts. Whether or not you choose a brokered CD account over a regular bank CD account, you should have an understanding of brokered CD accounts and how they differ. Let’s start out with the similarities between brokered CDs and bank CDs.

Similarities of Brokered CDs and Regular CDs

  • Both types of CD accounts pay a set CD rate that is usually higher than a regular savings account rate.
  • Both are debt obligations that are issued by a bank or brokerage firm and for borrowing your money, you are paid interest for the entire term of the CD.
  • When the CD account matures, you are paid back your principal along with any remaining interest payments.
  • Both types of accounts are insured by the FDIC for up to $250,000 (per account owner, per institution).

Brokered CDs vs. Regular Bank CDsDifferences between Brokered CDs and Regular CDs

  • Regular bank CDs are not traded but brokered CDs can be traded in a secondary market.
  • Brokered CDs can also be purchased from multiple banks and held in a single account. The primary benefit of this is to allow the CD holder to effectively expand their FDIC protection beyond the $250,000 limit while maintaining one account.
  • Brokered CDs allow more flexibility with the CD terms. Most banks offer regular CDs in set terms of 3 months, 1 year, 5 years, etc. With a brokered CD, the holder is given greater flexibility by allowing them to choose the term.
  • Bank CDs require paperwork when opening an account while brokered CDs don’t because brokered CDs are securities.

Risks of Brokered CD Accounts

The main risk of a brokered CD account is that if you need access to your principal before the maturity date, you may end up risking some of your principal when trying to cash out. With a regular bank CD account, you can take an early withdrawal penalty and forfeit some of the interest you earned on the account.

Unlike a bank CD, the brokerage house doesn’t “buy back” the CD early from you like a bank would. You have to sell the brokered CD to gain access to your principal. There are markets in which you can sell your CD. These markets are not liquid, which means you might not be able to get what your paid for the CD and you might not be able to sell it at all.

Selling a Brokered CD in the Secondary Market

The secondary market for brokered CDs is like any fixed income security market. There are different CD valuations and secondary market prices are susceptible to fluctuations in CD interest rates. If CD rates increase, the market price of outstanding CDs will generally decline, creating a potential loss of principal if you decide to sell them in the secondary market.

When you weigh the differences, risks, and advantages between both types of accounts, I would say traditional bank CDs are your best bet. If you get into a financial position that requires you to sell your brokered CD, you might not get back 100 percent of your principal. The only benefit to a brokered CD is being able to have more than the $250,000 FDIC coverage while having only one account.

CDARS is Another Option

Another type of CD account that also allows you to have more than $250,000 in FDIC coverage with a single account and without having to sell in a secondary market in order to liquidate your account. The service is called the Certificate of Deposit Account Registry Service (CDARS). You can open one account (up to $50 million) and your principal is spread among many difference banks to give you full FDIC insurance coverage of your account.

Neither a Brokered CD or CDARS CD Have the Best CD Rates

You won’t get the best CD rate available on a brokered account or a CDARS account. You can search for the best CD rates right here by searching our rate lists: RatesORama.com

Author: Brian McKay
June 10th, 2013

The Great Recession Took a Bite out of Retirement Savings Especially for Generation XThe financial crisis and the “Great Recession” took a big bite out of retirement accounts for Boomers, Generation X and Generation Y. A new study released by Pew Charitable Trusts showed the late boomer generation  (those born after 1955) and Generation X  (born between 1966 and 1975) will have less for retirement that previous early boomers (those born between 1946 and 1955). The report showed most of us are not financially prepared for retirement years and younger generations will face the “greatest prospect of downward mobility in their golden years.”

In the Retirement Security Across Generations report, the early boomers, right now are in the best financial shape to retire, thanks to the dot-com boom and the housing bubble. This is understandable since they have higher net worth and the most equity in their homes than the following generations. They bought their homes before the housing bubble and enjoyed the 1990s bull market run in stocks.

A neighbor of mine who is an early boomer and about to retire paid one seventh the price for his home I paid for mine. The one area the younger generations are faring better in is interest rates. Current mortgage rates are just above record lows which helps the late boomers and Gen-Xers with financing mortgages.

While the early boomers mostly have their homes paid for, they are not benefiting from low mortgage rates. Early boomers are also getting hit on savings rates, CD rates, and bond yields. Rates on interest-bearing assets are also near record lows, so they are getting killed on interest earnings. Late boomers are about to retire so they should have a very small percentage of their retirement portfolio in risky assets and most of their portfolio in safe interest bearing assets.

The opposite is true for late boomers and Generation X. These generations were behind in saving for retirement even before the recession hit. When the recession did hit, millions of them were out of work, saw their 401k’s plummet in value and the value of their homes decline as well.

Granted, early boomers also lived through declining stock prices, home prices, and loss of jobs but again, the big difference for early boomers is that they were in the game of life a lot earlier. That enabled them to weather the storm better since they invested in stocks earlier and owned their homes earlier then the later generations. They basically had a better financial cushion heading into the recession.

The only thing younger generations have on their side is time. Starting out with a solid financial plan earlier in life is the key to having a successful retirement.

Author: Brian McKay
May 22nd, 2013

As the equities markets continue to rally, the current best CD rates available remain at the same level as last week. The Dow Jones Industrial Average made a record high recently and the S&P 500 also made a record high. The same can’t be said for interest-bearing assets like certificates of deposit, U.S. Treasury yields, and other deposit accounts.

The Best CD Rates and Treasury Yields This WeekThe best CD rates in our 1 year certificates of deposit database remain above 1.00 percent. GE Capital Retail Bank is current offering 1 year CD rates at 1.04 percent with an APY of 1.05 percent. The current national average CD rate on 1 year certificates of deposit is lower at 0.21 percent.

The best 1 year rates in our database are much higher than 12 month U.S. Treasury yields and are also higher than the national average CD rates. 12 month yields closed on May 7th at 0.10 percent, down from Monday’s average yield of 0.11 percent.

2 year bank CD rates for the week ending May 6 averaged 0.34 percent, unchanged from the previous week’s average 2 year rate. The highest CD rates in our 2 year certificate of deposit database are almost 4 times the average bank rate. CIT Bank is currently offering 2 year rates at 1.19 percent with 1.20 percent. 24 month U.S. bond yields closed at 0.22 percent today.

Bond yields of 36 months and longer have risen considerably since the beginning of May. 36 month bond yields closed at 0.35 percent on May 7th, an increase from Monday’s average rate of 0.34 percent and up from the May 1st average of 0.30 percent. 36 month yields are up 5 basis points, or just over 16 percent higher in May.

Although 36 month yields have moved considerably higher the past 5 days, current yields are still lower than the national average and the best 3 year CD rates available. The current national average 36 month CD rate is at 0.46 percent, unchanged from last week’s average rate. The best 3 year rates on our rate list are from Virtual Bank at 1.30 percent with an APY of 1.31 percent.

The highest 4 year CD bank rates on our rate list this week are from Nationwide Bank at 1.45 percent with an APY of 1.46 percent. The current national average 4 year CD rate is at 0.58 percent.

Average 5 year CD bank rates this week are at 0.75 percent, unchanged from last week’s average 5 year rate. The best 5 year CD rates in our database are at 1.59 percent with an APY of 1.60 percent. 5 year bond yields closed on Tuesday at 0.75 percent, the same level as the average 5 year CD rate. 5 year bond yields are 10 basis points higher since May 1st.

Author: Brian McKay
May 8th, 2013

April 23rd was “Teach Your Children to Save Day” and if you missed it, the national day that was created to instill good savings habits in our children. Teaching your kids to become savvy savers and investors when they are young can instill lifelong positive financial habits in them, not to mention they will be less likely to come to you for money when they are adults.

Did You Miss Teach Your Children to Save DayMost parents don’t take the time to teach their kids about managing their personal finances because most parents don’t do it themselves. When you teach your kids about saving and spending you can look at it as a continuing education for yourself. Start as early as possible with simple lessons that help them understand the value of money, saving and spending.

Start by opening a bank savings account with your children, many banks and credit unions offer starter savings accounts. Many of these accounts also have savings rates that are higher than most rates available. Right now the best savings account rates and money market rates are just above 1.00 percent. You can find kid savings rates double that rate if you look around and compare rates.

Another important part of teaching your kids about personal finance is teaching them the difference between needs and wants. You probably heard your kids say the “need something” but in reality they just want it. Once they have an understanding of the difference you can teach them to save for the things they want.

The best money lessons in the world will be useless if your kids don’t fully understand them, you also need to make sure the money management lessons they are taught are appropriate for their age. As they get older you introduce new lessons and concepts to them that are relevant to their age.

Teach them that they should always put away a percentage of money earned into a savings account. If you’re not doing this you should “pay yourself first”, this is the only way you can consistently save money every month. When you teach your children give them the opportunity to actually save and manage real money.

You can give them an allowance or let them earn money doing chores around the house besides their regular chores which they shouldn’t get paid to do. You can also tell them about all the house expenses that have to be paid, like rent or a mortgage payment, along with all other monthly expenses. I wouldn’t recommend telling them the dollar amounts of these expenses, you can wait until they are adults or just before they go off to college.

A good website to help you is Money as You Grow, this site has information on teaching kids by age. This website can help you start a dialogue about money, saving and teaching your  kids important lessons about making the right choices. If you missed Teach Your Children to Save Day don’t worry, you can always start today!

Author: Robert Till
April 27th, 2013

Since the financial crisis 5 years ago, interest rates have moved lower. Right now long term CD rates are not much higher than short term CD rates. The CD yield curve is flat and will remain so for at least two more years as the Federal Reserve keeps their key benchmark interest rate near zero percent.

Long Term CD Rates Top Out at 170 APYThe yield curve for average CD rates at banks is even narrower than the highest CD rates available. The current average 3 month certificate of deposit rate is at 0.09 percent according to the FDIC. The national average 5 year CD rate this week is at 0.76 percent, only a 0.67 percent difference between average 3 month CD rates and average 5 year CD rates.

The best CD rates on our 3 month certificate of deposit rate list this week are at 0.51 percent APY while the best rates on 5 year CD accounts are at 1.70 percent APY, a 1.19 percent difference. If you have a 5 year CD coming due, you’re going to have sticker shock. 5 years ago, the highest 5 year rates were well above today’s rates.

In fact, I would advise against reinvesting in another 5 year CD since rates are so low. You’re better off investing in shorter term CD accounts of 1 year or less since rates should be moving higher sometime before 2016. When rates move higher in the coming years, you’ll be in a position to invest in certificates of deposit at higher rates than current rates. Whereas if you invest in another 5 year CD now, you would either have to wait until your account matured or cash in your CD and incur an early withdrawal penalty.

Right now the best bank CD rates on our 1 year CD rate list are at 1.04 percent with an APY of 1.05 percent. The highest 1 year rates are only 0.65 percent lower than the highest 5 year rates so you’re not losing out on much interest. Below are list of the highest 3 month, 12 month and 60 month CD rates on our rate lists this week.

3 Month CD Rates

  1. EverBank 0.51% APY 0.51%
  2. E-Loan 0.50% APY 0.50%
  3. AloStar Bank of Commerce 0.45% APY 0.45%
  4. Discover Bank 0.40% APY 0.40%
  5. Virtual Bank 0.40% APY 0.40%

12 Month CD Rates

  1. GE Capital Retail Bank 1.04% APY 1.05%
  2. Home Savings Bank 1.00% APY 1.00%
  3. Doral Bank 0.96% APY 0.96%
  4. My e-BAnC 0.95% APY 0.95%
  5. E-Loan 0.91% APY 0.91%

60 Month CD Rates

  1. Nationwide Bank 1.69% APY 1.70%
  2. GE Capital Retail Bank 1.64% APY 1.65%
  3. Discover Bank 1.59% APY 1.60%
  4. First Internet Bank of Indiana 1.59% APY 1.60%
  5. AloStar Bank of Commerce 1.54% APY 1.55%

 

Author: Monica Harris
April 19th, 2013

For many years now CD rates, savings rates and money market rates have drifted lower. The reason why interest rates have fallen so low and haven’t moved higher is that Federal Reserve has kept their key interest rate, the fed funds rate, in a targeted range of zero percent to one quarter percent. As a result of the Fed’s policy, average CD rates at banks and all deposit rates have fallen to record lows.

Low CD Rates and Savings Rates ContinueThe Fed just released their March meeting minutes showing that the Fed will keep their current policy of having the fed funds rate just above zero percent. This will mean rates on interest bearing assets will also remain low for the foreseeable future. The meeting minutes contained results of a survey of primary dealers which showed that dealers continued to believe the fed funds rate will be increased in the third quarter of 2015.

The results of the survey are not a surprise since the Fed has stated that they plan to keep the fed funds rate at near zero percent until the unemployment rate falls below 6.5 percent, which the Fed believes will happen at the end of 2015. Right now the best CD rates on 12 month certificates of deposit are at 1.04 percent. The best savings rates are just below that rate at 1.00 percent.

Following is a list of the highest 12 month CD rates this week and the highest savings account rates from banks:

Highest 12 Month CD Rates

  • GE Capital Retail Bank 1.04%
  • Colorado FSB 1.00%
  • Home Savings Bank 1.00%
  • One West Bank FSB 1.00%
  • Doral Direct 0.97%
  • E-Loan 0.91%
  • Discover Bank 0.90%
  • Barclays Bank 0.90%
  • California First National Bank 0.90%
  • Ally Bank 0.89%

Highest Savings Account Rates

  • CIT Bank 1.00%
  • Barclays Bank 1.00%
  • FNBO Direct 0.85%
  • Colorado FSB 0.85%
  • Ally Bank 0.84%
  • Bank of Internet 0.80%
  • Discover Bank 0.80%
  • Capital One 360 0.75%
  • Heartland Bank Direct 0.70%
  • Centennial Bank 0.65%

All of the banks listed here have deposits insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. When comparing interest rates, you will only find FDIC insured banks listed on our rate tables.

Author: Stacy Everest
April 11th, 2013

Average CD rates at banks are stable the last week in March, as the U.S. Bureau of Economic Activity released their “third” estimate showing fourth quarter 2012 GDP advanced 0.4 percent. The “first” estimate for growth in Q4 showed GDP contracting 0.01 percent so the quarter’s growth is looking better but still down from the third quarter GDP growth of 3.1 percent.

CD Rates at Banks Stable as Real GDP Advances 04 Percent in Q4 2012Most economists believe the Q4 slowdown in GDP growth is temporary and that growth will pick up again in the first quarter of 2013. There have been many positive economic reports released in 2013 pointing to an economy that is gaining momentum and lowering the unemployment rate. The unemployment rate fell to 7.7 percent in February, down from January’s rate of 7.9 percent.

Growth isn’t as robust as it needs to be for the Federal Reserve to increase their key interest rate, the federal funds rate. The rate has been at nearly zero percent for many years now and this has depressed interest rates on deposit accounts such as certificates of deposit. All CD terms from 1 month to 60 months have very low CD rates.  For example, bank CD rates on 60 month CD accounts are averaging just 0.77 percent. Just a few years ago, most banks were offering 5 year CD rates above the 3 percent range. Right now the best CD rates on 5 year CD accounts are under 2.00 percent and falling. The highest CD rates on 5 year CD accounts for our rate table are from The National Republic Bank of Chicago at 1.85 percent with an APY of 1.87 percent.

Average 1 month CD interest rates this week are averaging 0.06 percent while the best 1 month CD rates are at 0.15 percent. Average 3 month CD rates this week are at 0.09 percent and the highest 3 month rates are at 0.46 percent. As you can see, the highest rates on any given CD term are considerably higher than the average rates, so it pays to shop around to find the best rates.

To help you with your search on finding the best CD bank rates, following is a list of certificate of deposit terms of 1 month to 5 years:

  • 1 Month CD rates/APY  Lone Star Bank 0.15%/0.15%
  • 3 Month CD Rates/APY EverBank 0.45%/ 0.45%
  • 6 Month CD Rates/APY Doral Direct 0.88%/0.88%
  • 12 Month CD Rates/APY GE Capital Retail Bank 1.04%/1.05%
  • 18 Month CD Rates/APY Salem Five 1.14%/1.15%
  • 24 Month CD Rates/APY VirtualBank 1.15%/1.16%
  • 30 Month CD Rates/APY Discover Bank 1.09%/1.10%
  • 36 Month CD Rates/APY The National Republic Bank of Chicago 1.35%/1.36%
  • 48 Month CD Rates/APY Nationwide Bank 1.55%/1.56%
  • 60 Month CD Rates/APY The National Republic Bank of Chicago 1.85%/1.87%
Author: Monica Harris
April 1st, 2013

The Federal Open Market Committee held their two day meeting this week on economy policy. Right after the meeting the FOMC released and statement and the Federal Reserve Chairman, Ben Bernanke, held a press conference, you can read the transcript here: Fed transcript. As expected the Fed continues to stay the course of goosing the economy by keeping the Federal Funds rate near zero percent. Unfortunately, this will keep CD rates and other deposit rates low for the foreseeable future.

The Fed is also going to continue buying $40 billion a month in mortgage-backed securities (MBS) and $45 billion a month in long term U.S. Treasuries. This is somewhat of a surprise because all the recent positive economic data that has been released. The Fed wasn’t expected to increase the Fed funds rate but some analysts believed they Fed would announce a slowing down of asset purchases or announcing end date to the purchases.

The Fed’s outlook on the economy is a little rosier than has been in the past. The Fed Chairman, Ben Bernanke, said the following in the press conference:

Spending by households and businesses has continued to expand, and the housing sector has seen further gains. The jobs market has also shown signs of improvement over the past six months or so: Private payrolls are growing more quickly, total hours of work have increased, the rate of filings of new claims for unemployment insurance has fallen, and the unemployment rate has continued to tick down.

The economy is improving but not fast enough for the Fed to make changes in policy. The Chairman also said the Fed is still worried about a number of issues, including “restrictive fiscal policies may slow economic growth and job creation in coming months,” Fed speak for the federal government cutbacks and deficit reduction. The Fed is also still concerned that the unemployment rate at 7.7 percent is still “elevated.”

On the other hand inflation still isn’t a concern for the Fed saying “inflation is running somewhat below the Committee’s longer-run objective of 2 percent”. These concerns along with low inflation is allowing the Fed to keep accommodating economic policies that will foster growth and lower the unemployment rate.

As for as projections economic outlook the Fed governors overall believe the economy will grow between 2.3 to 2.8 percent for 2013, rising to 2.9 to 3.7 percent in 2015. Projections for the unemployment rate for the fourth quarter of this year is 7.3 to 7.5 percent, declining to 6.0 to 6.5 percent in the final quarter of 2015. A majority of governors project inflation to run between 1.3 to 1.7 percent this year and 1.7 to 2.0 percent in 2015.

If these projections turn out to be correct average bank CD rates will increase from current levels but not back to the rates we saw just before the financial crisis. Right now the best CD rates on 12 month certificates of deposit are at 1.04 percent. By the end of 2015 1 year CD rates could move into the 2 percent range to 3 percent range.

You can view the Fed Chairman’s entire press conference in the video below:

Author: Robert Till
March 23rd, 2013

The Federal Open Market Committee (FOMC) meets on the 19th and 20th to decide the current direction of economic policy. Since the beginning of 2013, the vast majority of economic data released has been positive, 0verall pointing to an economy that is gaining momentum and lowering the unemployment rate.

Federal Open Market Committe Meets This Week All Eyes on Policy ChangesAfter years of sub-par economic growth it appears the economy will finally expand fast enough to make a dent in the unemployment rate. The current rate at 7.7 percent is at the lowest point in 5 years but not low enough for the FOMC to pull back on their stimulus measures that are helping growth.

The Federal Reserve Chairman, Ben Bernanke, and the Vice President, Janet Yellen, will probably remain committed to the current policies: buying $85 billion a month in U.S. Treasuries and mortgage-backed securities. These policies are designed to drive long term interest rates lower on mortgages and loans. These policies have been working as 30 year mortgage rates are just above record lows.

Another FOMC policy designed to help the economy growth is the Fed’s decision to keep the Federal Funds rate near zero percent. This policy is also keeping CD rates and all deposit rates low and has been keeping rates low for years now. Right now the best CD rates on 5 year certificates of deposit are under 2.00 percent. I remember just a few years ago the highest CD rates on 1 year certificates of deposit were above 2.00 percent.

The FOMC has stated they plan to keep the “accommodating stance” until the unemployment rate falls below 6.5 percent, which they believe will happen at the end of 2015. This also means deposit rates will also remain low until the end of 2015. Of course there is a possibility that rates will increase before then and with the recent positive economic news looks more and more likely.

Even if there is an increase in rates before the end of 2015 the increases won’t be that much. We might see 1 year bank CD rates move up to the 1.50 percent range and 2 year CD rates move up to 1.75 percent. That being said it is best to stay invested in shorter term certificates of deposit or savings accounts. That way your deposits can earn slightly higher rates when they finally do move higher.

Author: Stacy Everest
March 18th, 2013

Banks that didn’t perform well in the Federal Reserve stress test might feel the need to offer higher CD rates to increase their capital reserves. The largest bank holding companies in the United States have to go through an annual stress test to show that they can withstand extreme hypothetical economic scenarios.

Will CD Rates Move Higher at Banks that Didn't Perform Well in the Federal Reserve Stress Test?The stress tests that the Federal Reserve conducts were borne out of the financial crisis when many large banks were in deep trouble and needed more capital to survive. Overall, all the largest banks in the United States fared pretty well in this round of tests, which include a hypothetical economic model of sharp economic contraction, a large jump in the unemployment rate, and a large drop in stock prices.

The “stress scenario” model that the Fed applies in their test is a very unnerving situation if it were to actually happen. The test includes includes a top unemployment rate of 12.1 percent, a drop of more than 50 percent in stock prices, and a drop in housing prices of more than 20 percent. The test also includes the 18 bank holding companies that are tested to lose a combined $462 billion during just over two years in this hypothetical scenario.

The good news is that (on paper) none of the 18 banks would fail since all of the banks have increased both the quality and quantity of bank capital since the “Great Recession.” The test also concludes that banks can continue to lend to consumers and businesses, even in times of economic difficulty, though if that scenario were to happen would banks actually be willing to lend? If history is any indication, probably not.

When the financial crisis hit, banks turned off the lending spigot to individuals and companies. Two of the big three automakers had to be bailed out by the federal government since no investors or lenders would step up to provide capital to General Motors and Chrysler during the financial crisis.

The test results list the bank capital ratio for Q3 2012 and what the capital ratio would be for the banks in the test scenario in Q4, 2014. All banks have enough capital to withstand the test but more than half of the banks just meet the minimal capital requirements. The banks with the minimum capital requirements include Ally Bank, U.S. Bancorp, SunTrust, Wells Fargo, Regions Financial Corporation, The PNC Financial Services Group Inc, KeyCorp, Fifth Third Bancorp, Capital One Financial Corporation, BB&T Corporation.

If you invest in bank stocks, it is probably safe to say that none of the 10 banks listed above will be offering dividends or increasing their dividends anytime soon, as doing so would drain more capital. In fact, these ten banks will probably look to shore up their capital to better withstand the Fed’s scenario. Bank CD rates are currently on the low side with the exception of Ally Bank, so they should have room to increase their rates.

Ally Bank, the former GMAC Bank, has always offered some of the best CD rates compared to other bank’s CD rates. These banks will probably start increasing their CD rates and savings rates to draw depositors so the banks can increase their capital. Don’t expect rates to shoot up considerably since the FDIC has rate caps on all certificate of deposit terms that these banks must adhere too.

If you want to read more about the methodology of the test and the results you can read this report by the Board of Governers of the Redeal Reserve System: Bank Stress Tests

Author: James Martin
March 10th, 2013

Rates on all interest bearing assets are very low, both short term and long term CD rates and bond yields are low. The Federal Reserve Chairman, Ben S. Bernanke, gave a speech recently at the Annual Monetary/Macroeconomics Conference. In the speech entitled “Long-Term Interest Rates,” he spoke about why long term interest rates are so low and how long term rates will evolve in the future.

The first obvious reason for long term bond yields being so low is central banks are keeping yields low to increase growth. Movements in long-term interest rates in Canada, Germany, Japan, the United Kingdom, and the United States have been very similar over the past ten years. With the exception of rates in Japan, long term rates have declined in tandem over the past ten years and are all near 2 percent.

Movements in yields are very similar, despite the fact that there are differences in each country’s economy and different central bank mandates. The financial crisis caused central banks to move interest rates down to record lows to foster growth, which has caused long term bond yields to also fall to record lows.

How Are Long-Term Rates Likely to EvolveNow that the crisis is behind us and economic growth is increasing, interest rates will start increasing again and return to normal levels. Current 10 year bond yields in the United States are at 1.85 percent and will rise to the 4 percent to 5 percent range by 2017, depending on the forecast.

On the high end of forecasts, the Congressional Budget Office (CBO) forecasts yields to increase to just above 5.00 percent. The Term Structure Model forecast predicts 10 year yields will rise to the 4.25 percent. You can view forecasts in the graph to the right:

When long term bond yields return to a more normal historical level, interest rates on savings accounts and certificates of deposit will rise as well. 5 year bank CD rates will also increase to a range of 4 percent to 5 percent. Right now the highest CD rates on 5 year certificates of deposit rates are just below 2.00 percent.

Where shorter term CD rates will be depends on where short term bond yields will be, which depends on the inflation rate. The current inflation rate is around 2.00 percent and the best CD rates on 1 year certificates of deposit are at 1.04 percent. Short term CD rates in 2017 will probably be slightly higher from current levels – around the 1.50 percent to 2.00 percent range.

Author: Monica Harris
March 4th, 2013

Gold, Oil, Copper, equity markets, and bond yields all declined yesterday on the Fed’s comments that they might slow or stop their stimulus programs sooner than thought. A minority of fed officials, who are becoming more vocal, are making their case that the fed should slow or stop their buying of $85 billion a month in bonds and mortgage-backed securities (MBS).

Fed Comments Scare Markets, Are Higher CD Rates on the Way Sooner Than ThoughtTheir belief is the current policies of keeping interest rates artificially low encourage more risk and are creating new asset bubbles which will eventually burst. The Fed Chairman, Ben Bernanke, and the majority of fed officials will keep the more accommodative stance on monetary policy to spur growth and lower the unemployment rate.

In Fed’s January minutes, the fed said they will stay the course on its stimulus policies to lower the unemployment rate. At this point, the plan is to continue buying $85 billion a month in securities and keep the fed funds rate near zero percent. They will continue these policies until the unemployment rate falls below 6.5 percent, which the fed believes will happen towards the end of 2015.

10 year U.S. Treasury yields are down 5 basis points and are back below 2.00 percent this morning. Yields are down as investors flee to the safety of Treasuries, sending bond prices higher and yields lower. If the minority of fed officials are right, the decline in bond yields is temporary and will move higher before the end of 2013 as the markets reassess interest rates and inflation.

Inflation higher than the fed’s comfort zone of 2.00 percent to 2.50 percent will force the fed’s hand to increase the fed rates prior to the unemployment rate falling below 6.50 percent. A higher fed funds rate will drive CD rates and other deposit account rates higher. Higher CD rates will be welcome news for depositors since the best CD rates on 1 year certificates of deposit are around 1.00 percent.

Three factors playing out in Washington D.C. will also have an intermediate effect on interest rates. The sequestration of government spending cuts, to start taking affect March 1, 2013, the fiscal budget for 2013 and the debt ceiling limit. Depending on how these issues are resolved will also determine the direction of interest rates this year.

If deals are made in time without too much spending reduction, the economy will take off, sending interest rates higher. If deals aren’t made and the economy falls into another recession interest rates will make new lows.

Author: James Martin
February 21st, 2013

Bank CD rates remain stable this week and there were no major changes in average CD rates or the best CD rates available. There is hope that interest rates on all types of bank accounts will move higher in late 2013 or early 2014, which will be welcome news for those who rely on income from interest bearing assets.

This week’s average CD rates at banks on 5 year certificates of deposit remain unchanged at 0.81 percent, 5 year jumbo CD rates also remain unchanged at 0.82 percent. The highest CD rates on 5 year certificates of deposit right now on our rate list are at 1.78 percent with an APY of 1.80 percent, more than twice the national average rate. Here are the top 5 CD rates and 5 year jumbo CD rates this week:

Regular 5 Year CD Rates

  1. Nationwide Bank CD Rate 1.78% APY 1.80%
  2. Home Savings Bank CD Rate 1.73% APY 1.75%
  3. EverBank CD Rate 1.64% APY 1.65%
  4. E-Loan CD Rate 1.60% APY 1.61%
  5. Bank of Internet CD Rate 1.59% APY 1.60%

Jumbo 5 Year CD Rates

  1. CIT Bank Jumbo CD Rate 1.83% APY 1.85%
  2. Nationwide Bank Jumbo CD Rate 1.83% APY 1.85%
  3. Home Savings Bank Jumbo CD Rate 1.73% APY 1.75%
  4. E-Loan Jumbo CD Rate 1.60% APY 1.61%
  5. Bank of Internet Jumbo CD Rate 1.59% APY 1.60%

Average 4 year CD interest rates this week are at 0.62 percent, unchanged from last week’s average 4 year rate. Average 4 year jumbo rates are also unchanged at 0.64 percent. The highest 4 year rates on our list this week are at 1.55 percent and the highest 4 year jumbo CD interest rates are at 1.60 percent. Here is a list of banks offering the best 4 year rates and best 4 year jumbo rates this week:

Regular 4 Year CD Rates

  1. Nationwide Bank Rates 1.55% APY 1.56%
  2. ableBanking CD Rates 1.54% APY 1.55%
  3. Doral Bank CD Rates 1.36% APY 1.37%
  4. Intervest National Bank Rates 1.36% APY 1.37%
  5. Virtual Bank CD Rates 1.35% APY 1.36%

Jumbo 4 Year CD Rates

  1. Nationwide Bank Jumbo Rates 1.60% APY 1.61%
  2. ableBanking Jumbo CD Rates 1.54% APY 1.55%
  3. Doral Bank CD Rates 1.36% APY 1.37%
  4. Intervest National Bank Jumbo CD Rates 1.36% APY 1.37%
  5. Virtual Bank Jumbo CD Rates 1.35% APY 1.36%

Moving on to shorter term rates, we find average 3 year CD rates this week are at 0.50 percent and average 3 year jumbo rates are at 0.52 percent, both unchanged from last week’s average rates. The best CD rates on our 3 year rate list this week are at 1.30 percent and the best 3 year jumbo CD rates are at 1.34 percent. Here is a list banks offering the top 3 year rates this week:

Regular 3 Year CD Rates

  1. Virtual Bank Rates 1.30% APY 1.31%
  2. CIT Bank CD Rates 1.29% APY 1.30%
  3. California First National Bank Rates 1.24% APY 1.25%
  4. Doral Bank CD Rates 1.24% APY 1.25%
  5. ableBanking CD Rates 1.24% APY 1.25%

Jumbo 3 Year CD Rates

  1. CIT Bank Jumbo CD Interest Rates 1.34% APY 1.35%
  2. Virtual Bank Jumbo Rates 1.30% APY 1.31%
  3. California First National Bank Jumbo Rates 1.24% APY 1.25%
  4. Doral Bank Jumbo CD Rates 1.24% APY 1.25%
  5. ableBanking Jumbo CD Rates 1.24% APY 1.25%

We list the highest rates available for all certificate of deposit terms, from 1 month to 5 years, search our database to maximize the amount of interest you can earn on your CD investments.

Author: Monica Harris
February 14th, 2013

In an interview on CNBC, the legendary financier, George Soros, said there will be a dramatic increase in interest rates this year once there are clear signs the economy is picking up steam. Interest rates have been at record lows the past four years; the Federal Reserve is the main reason for low rates since they have kept the fed funds rate near zero percent to help lower the unemployment rate and foster growth.

The fed’s policy has brought rates on interest-bearing investments down to record lows. CD rates on 1 year certificates of deposit are just north of 1 percent, savings rates and money market rates are also just above 1 percent. The common belief is that interest rates will stay low until mid-2015, the time that the fed is expected to keep the fed funds rate near zero percent.

George Soros said in the interview “Once the economy gets going, then interest rates are going to take a big leap.” He also said “It may already have begun.”  Back in December of 2012, 10 year bond yields were just above 1.50 percent, last week yields moved above 2.00 percent, a 33 percent increase in yields. Mortgage rates have also moved up the past month, 30 year mortgage rates moved to the highest point since September of 2012.

Holders of interest-bearing assets like certificates of deposit have been suffering with low CD rates for years now. Short term rates and long term rates have all moved down to record lows. The best CD rates on 5 year certificates of deposit are around 1.75 percent and the highest CD rates on 3 month certificates of deposit are at 0.65 percent.

Any increase in CD rates would be welcome news and a major increase in rates would be a godsend, especially to retirees who rely on interest income. Unfortunately, an increase in interest rates will also mean higher mortgage rates. A sharp increase in rates would have a negative effect on the housing market and economy.

While we welcome an increase in rates for depositors, too quick of an increase could slow the economy and force interest rates down once again. The fed has a delicate act ahead of slowing and eventually stopping purchases of mortgage-backed securities. Once the fed is finished with their accommodating stance of stimulating the economy, they then have to unwind their balance sheet.

Any quick moves could also slow growth dramatically, which would send interest rates lower again. While we don’t necessarily believe interest rates will move dramatically higher in 2013, rates will be moving higher before mid-2015. You should stay invested in shorter term certificates of deposit so you can take advantage of higher CD rates when they arrive.

Author: Monica Harris
February 5th, 2013

Average CD rates and the best CD rates available are unchanged as the Federal Open Market Committee (FOMC) is holding one of their eight regularly scheduled meetings for 2013. The Fed is slated to keep the fed funds rate near zero percent until mid-2015, which in turn will keep bank CD rates low.

There is hope for higher interest rates before mid-2015 since a few more positive economic reports were released this past week, pointing to a stronger economy. A stronger economy will lower the unemployment rate, which will force the Federal Reserve to increase the fed funds rate before mid-2015. A higher fed funds rate will mean higher interest rates across the board – higher CD rates, higher savings rates, and higher mortgage rates.

Current 6 month CD rates are averaging 0.14 percent in the FDIC rate survey for the week ending January 28, 2013. Average 6 month CD rates at banks are down 1 basis point from the January 22, 2013 average rate. The best rates on 6 month certificates of deposit this week are also down 1 basis point. The bank offering the highest rate on our list is Doral Bank at 0.89 percent, down from 0.90 percent.

Following is a list of the top 6 month rates this week:

  1. Doral Bank Rate 0.89% APY 0.89%
  2. Colorado FSB Rate 0.80% APY 0.80%
  3. Ascenia, a div. of PBI Bank Rate 0.78% APY 0.78%
  4. Discover Bank Rate 0.75% APY 0.75%
  5. ableBanking, a division of Northeast Bank Rate 0.75% APY 0.75%

Average 12 month CD interest rates are at 0.23 percent in this week’s FDIC rate survey, unchanged from the prior week’s average rate. The highest CD rates on our 12 month certificate of deposit rate list are also unchanged at 1.04 percent with an APY of 1.05 percent. The banks offering the highest rates on our list are GE Capital Retail Bank and Colorado FSB. Here is a list of the top 1 year CD rates at banks this week:

  1. GE Capital Retail Bank Rate 1.04% APY 1.05%
  2. Colorado FSB Rate 1.04% APY 1.05%
  3. E-Loan Rate 1.02% APY 1.02%
  4. ableBanking Rate 1.00% APY 1.00%
  5. OneWest Bank FSB Rate 1.00% APY 1.00%

Check back often with our rate tables to ensure you are always finding the best rates available.

Author: James Martin
January 29th, 2013

Having a thorough understanding of banking basics is the key to making your money work for you. Earning money is only half the game plan, the other half is budgeting and saving. A bank savings account or certificate of deposit is one of the safest places to save your money since the government (FDIC) insures bank deposits up to $250,000 per depositor, per account. The insured amount used to be $100,000 but was temporarily increased due to the financial crisis of 2008. Sooner after the new $250,000 limit was made permanent.

There are many types of bank accounts to choose from, certificates of deposit, savings account, money market accounts and checking accounts are the four main types. There are also variations of the four main account types. Certificates of deposit and savings accounts are designed to save money.Money market accounts are used as a temporary place for cash and checking accounts are transactional accounts, used to write checks, pay bills electronically and use a ATM debt card for purchases.

The type of bank account you choose will depend on your needs. The rate of interest you earn on the account also depends on the account. The highest interest rates are usually on certificates of deposit, these rates are known as CD rates. You can find the best CD rates by searching online and rates vary greatly by bank.

Longer term certificates of deposit have higher CD rates and shorter term certificates of deposit have lower CD rates. That is usually the case except when the rate curve is inverted, shorter term rates are higher than longer term rates. This usually happens when inflation is very high and the Federal Reserve increases short term rates to cool the economy.

Checking accounts usually have the lowest interest rates. Many banks don’t even offer rates on checking accounts and if you don’t have a certain minimum balance in the account you might also pay a monthly fee. The minimum balance requirement also varies between banks, the minimum can be anyway from $500, $5,000 or $10,000.

Since bank accounts are generally risk free, the interest you earn on the account will be lower than other types of investments such as stocks, bonds and mutual funds. CD rates at banks, savings rates and all deposit rates are indirectly tied to the rate of inflation – the higher the inflation rate, the higher prevailing account interest rate.

Back in the 1970’s and early 1980’s bank CD rates and savings account rates were as high as 12 percent since the inflation rate was just as high. These days the best CD rates on 1 year certificates of deposit are just above 1.00 percent and the best savings rates are at 1.00 percent. When you factor in the inflation rate of 1.7 percent (CPI) the account isn’t even keeping up with the pace of inflation. A return that isn’t even keeping up with the rate of inflation will diminish your purchasing power.

The interest rate is the biggest factor when you calculate earnings on the account but all interest rates are not equal. The frequency of when the interest rate is paid determines the annual percentage yield (APY) on the account. The more frequently interest is paid, the higher the account’s APY will be. When interest is paid on the account differs by account and bank – the frequency can be daily, weekly, monthly, quarterly or annually.

Online banks offer the highest CD rates and highest savings account rates so it pays to bank online. There are also many conveniences to searching for rates and opening an account online. You need to take the time to find the best rates and lowest fee accounts which is a lot easier these days. Before online banking you had to search for the best deals by physically going from bank to bank which most people didn’t do so they didn’t get the best deals.

Author: Monica Harris
January 24th, 2013

The miserly of low deposit rates will continue into 2013 and probably into 2015 as the FOMC is planning to keep the Federal Funds Rate in a targeted range of zero percent to one quarter percent. As a result, banks will keep CD rates and all deposit rates near record lows until then. In fact, we will probably see bank CD rates continue to drift lower in 2013. The average declines will be small only because rates are already very low.

The best CD rates these days on 1 year certificates of deposit are just above 1.00 percent at 1.04 percent. Two banks are currently offering the highest CD rates at 1.04 percent with an APY of 1.05 percent. This rate is much higher than the FDIC average of 0.23 percent for the week ending January 14, 2013.

About four years ago, you could find many 1 year CD rates at banks in the 4 percent to 5 percent range – now you can’t even find a 5 year CD rate that high. The highest CD rates on 5 year certificates of deposit are in the 1.00 percent range as well. The top CD rates on our 5 year certificate of deposit rate list are at 1.78 percent with an APY of 1.80 percent.

Two banks, CIT Bank and Nationwide Bank are offering the 1.78 rate and yield. This is considerably higher than the FDIC’s average 5 year CD rate which is at 0.82 percent for the week ending January 14, 2013. In fact, we have many banks offering 5 year CD rates on our rate list that are higher than the FDIC average rate.

2 year CD interest rates in the FDIC average this week are at 0.38 percent while the highest 2 year rates are almost three times as much at 1.19 percent. The lone bank offering a rate of 1.19 percent with an APY of 1.20 percent on our rate list is CIT Bank. AbleBanking is second on our list at 1.18 percent with an APY of 1.19 percent.

The top 3 year CD rates on our rate list this week are from Virtual Bank at 1.30 percent with an APY of 1.31 percent. The second best 3 year rate on our list this week is at 1.29 percent with an APY of 1.30 percent. CIT Bank, Discover Bank and Barclays Bank are all offering that rate on yield on our list right now which is higher than the current FDIC average 3 year rate at 0.51 percent.

Average 4 year CD rates in the FDIC survey this week are at 0.64 percent. The highest 4 year CD rates on our rate list are from Nationwide Bank at 1.55 percent with an APY of 1.56 percent. The second best rate on our list is from ablebanking at 1.54 percent with an APY of 1.55 percent.

Feel free to search and compare the best certificate of deposit rates for all types of CD terms on our lists. We list the top national CD rates and the top regional CD rates to make sure you find the best top CD rates.

Author: James Martin
January 16th, 2013

There are many different ways to start a savings plan for your financial goals but the first step to any strategy is to start a savings plan now! The best advice I can give is don’t wait until tomorrow what you can do today and remember to always pay yourself first. If you pay all your bills first and pay for incidentals chances are you won’t have any money left to save for your financial goals.

I’m not advocating you don’t pay your bills but you can probably both pay your bills and start saving money. You can start by just placing your loose change in a jar. Granted you won’t be saving much money by placing your money in a jar but you can use this money for a small goal you have or even place the money in a deposit account after the jar fills. Doing this will also entice you to start other saving strategies for bigger financial goals.

A little side note, don’t use those change counting machines that take a percentage of your change. Some of these machines charge you as much as 7 or 10 percent which is criminal. Either count your change out the old fashion way and use coin wrappers or find a bank or credit union that has a coin counting machine

Start a savings account or certificate of deposit account that allows you to add additional money to the account. If you haven’t opened a savings account or certificate of deposit recently you’ll be in for a shock as far as where interest rates are these days. Both savings rates and CD rates are at record lows so brace yourself. The highest CD rates on 1 year CD accounts are just above 1.00 percent and the best savings rates are also at 1.00 percent.

To pay yourself first when payday comes around, always put a small percentage into your new savings account. Think of the amount as a regular bill you have to pay each month. Having the money placed into your account is best if it’s done automatically by using direct deposit. Remember at this point the amount you put in isn’t the most important thing, the point is that your saving money each and every paycheck is the important point.

You should also start a habit of saving any extra money you come across. That includes bonus money, birthday money, yes you might have a parent that still gives you that $50 or $100 each birthday, or any other source of money. A tax refund which is probably the biggest amount of money most people come across each year should definitively be placed into your savings account or CD account. Remember the best CD rates are on the longest term certificates of deposit, locking your money into an account for 5 years might prevent you from dipping into the account.

That money you spend each week on lottery tickets should be placed in a savings account instead. If you buy $5 a week in lottery tickets you’re wasting $260 a year! Even if you are lucky playing the lottery I bet your losing money each year.

Try a really stringent savings plan just for one month a see how much you can save. Knowing that one month of extreme frugality will end in 30 days may help add to your motivation to save more. There are endless ways to spend money and there are endless ways to save money as well. Give up that fast food restaurant purchase and bring your lunch to work, both your wallet and body will thank you.

Basically start savings today and place any money you have saved into your deposit account. You’ll be surprised that the more money you save the more money you’ll want to save. You can also use our rate tables to find the best deposit rates available from banks.

Author: James Martin
January 11th, 2013

Even though the Fed has decided to maintain aggressive stimulus measures in December’s Fed meeting to support the recovery and bring down high unemployment, policymakers were divided on when to end these aggressive measures. If the Fed changes their accommodating stance to stimulate the economy we will see higher CD rates and higher rates on all interest bearing assets sooner than mid-2015, the current time frame the Fed is expected to keep rates low.

The rift between Federal Reserve policymakers might end the purchases of bonds and mortgage backed securities sooner than expected if more Fed voting members decide there is too much stimulus in the system. In the meeting minutes the Fed also said they planned to maintain interest rates at near zero percent until 2015 but I believe that will probably change before then as well. Once the Fed increases the Fed funds rate and discount rate banks will follow suit increasing interest rates on deposit accounts.

Higher interest rates will be welcome news to holders of these interest bearing assets. We have suffered with low rates for many years now. Right now the best CD rates available on all certificate of deposit terms are very low regardless of how long the certificate of deposit term is. The CD rate spread between the shortest term certificates of deposit and the longest term certificates of deposit is less than 0.75 percent.

The highest CD rates on 1 year certificates of deposit are at 1.04 percent and the highest CD rates at banks on 5 year certificates of deposit are at 1.78 percent, a 0.74 percent difference. Nobody really knows exactly when interest rates will move higher but the Fed will be the final decision maker on when rates move up.

We at least know rates will move higher by mid-2015 but if the unemployment rate falls below 6.50 percent or if the inflation rate moves above 2.50 percent the Fed will increase rates before then. I personally believe rates will move higher in late 2013 or in the first half of 2014 especially if Washington can agree on budget cuts with minimal theatrics and damage to the economy.

The interest in rates will be swift since rates are so low right now. If the Fed increases the Fed funds rate from the current targeted range of zero percent to one quarter percent to a neutral stance it will require them to increase the rate at least 200 basis points. Banks will follow suit by increasing CD bank rates, savings rates and money market rates by at least 100 basis points to around 2.00 percent from current levels.

Author: Stacy Everest
January 6th, 2013

As 2012 comes to an end and we mark a fourth year of dismal CD rates with no end in sight to these low rates until 2015. CD rates at banks and credit unions will stay low until 2015 thanks to the Federal Reserve keeping the Fed funds rate at zero percent until then. To help you find the best CD rates on certificate of deposit we have compiled list of the highest CD rates on certificate of deposit terms of 3 months, 6 months and 12 months.

Staying in shorter term bank CD rates is wisest since CD interest rates are low and the CD yield curve is flat and if rates increase prior to 2015 you’re in a position to take advantage of an increase in rates. If you invest in longer term certificates of deposit right now when rates do increase you have to either wait until these longer term certificates of deposit mature or cash in your account early and incur an early withdrawal penalty.

The highest CD rates on our 3 month certificates of deposit rate list on New Years Eve are at 0.65 percent. The bank offering 3 month rates at this level is E-loan.com. If you’re money has been locked in a long term certificate of deposit that will expire a 3 month rate of 0.65 percent might be shocking to you.

E-Loan’s 3 month CD rate is actually more than 8 times the FDIC national average rate of 0.08 percent for the week ending December 31, 2012. Think 3 month jumbo CD rates in the FDIC rate survey are better? Well, the current FDIC jumbo CD rate on 3 month certificates of deposit is also averaging 0.08 percent.

Other banks on our 3 month rate list that are offering rates well above the FDIC average include EverBank at 0.56 percent, Virtual Bank’s 3 month rate is at 0.50 percent, Alostar Bank’s 3 month rate is at 0.45 percent and OneWest Bank’s rate is also at 0.45 percent.

Moving onto the best 6 month CD rates, we find the best CD rate on our list is at 0.90 percent from Doral Bank. The FDIC national average 6 month rate for the week that ended on December 31 is at 0.15 percent, less than one sixth Doral Bank’s rate. Other top CD rates on 6 month certificates of deposit include Giantbank.com at 0.80 percent, Colorado Federal Savings Bank also at 0.80 percent. Ascencia at 0.78 percent and Alostar Bank at 0.76 percent.

The highest CD rates on 1 year certificates of deposit right now on our rate list are at 1.04 percent with an APY of 1.05 percent. The current FDIC average 12 month rate for December 31 is at 0.23 percent. Four banks on our rate list are offering a rate of 1.04 percent for a 12 month certificate of deposit. CIT Bank, Sallie Mae Bank, ableBanking and Colorado Federal Savings Bank. Feel free to search our rate lists at anytime for the best interest rates.

Author: Monica Harris
December 31st, 2012

The first the foremost thing to do surviving the fiscal cliff is not to panic, you should plan for the worst scenario and make cautious decisions but don’t panic. Stock prices have held up amazingly well the past several weeks, in fact all stock indices have been rallying the past week as investors are certain both sides can come to an agreement to prevent tax hikes on everyone and the automatic spending cuts.

While a deal probably will be reached eventually it might not happen until the new year and we are already seeing a negative impact on the economy. The MasterCard Advisors SpendingPulse, a report that tracks spending on holiday goods, showed sales in the two months before Christmas increased 0.7 percent, a lot lower then expected and the weakest point since 2008, which was at the height of the financial crisis.

The biggest changes that will directly affect most people are in the tax side of the fiscal cliff. If an agreement isn’t reached to stop the increase on middle class Americans, the average household will face a total tax increase of $3,500, according to the Tax Policy Center. The increase in rates include a 2 percent payroll tax holiday will expire on December 31, capital gain taxes will increase from the current rate of 15 percent to 20 percent, plus there is an additional 3.8 percent capital gains tax from the Obama-care legislation which makes the overall capital gains rate 23.8 percent.

More increases include higher higher tax rates for the top earners, the top rates will move from 33 and 35 percent to 36 to 39.6 percent. Dividends which are currently taxed at 15 percent will go as high as 39.6 percent depending on the tax payers overall effective tax rate. Many publicly traded companies are moving dividend payments up so stock holders can avoid higher tax payments.

The second part of the fiscal cliff is government spending cuts which won’t affect most people directly but will have a negative impact on the economy. Companies that rely on Federal government contacts have already delayed hiring or are making plans to layoff staff if the cuts happen in 2013 which is already contributing to slower growth.

What you can do to mitigate the negative impact on your portfolio is to lighten up on equities and bonds. Placing the sale process of stocks, mutual funds and bonds into a savings account or certificate of deposit is the safest route to take. Current CD rates and savings rates are very low right now so don’t expect much of a return but at least your principal won’t be at risk as long as you stick to FDIC insured banks and keep the deposit amount below the FDIC insured maximum amount of $250,000.

The best CD rates right now on 1 year certificates of deposit are just north of 1.00 percent though I do hope a fiscal cliff agreement can be reached within a year. That being said you’re probably better off with shorter term 3 month certificates of deposit. The highest CD rates on 3 month certificates of deposit are at 0.65 percent.

Author: Monica Harris
December 26th, 2012

As the debate and campanging ranges on for the direction Congress and the President chooses to deal with the fiscal cliff now is a good time to lighten up on your equity holdings and place the sale process in a certificate of deposit. Since CD rates are so low these days your return will be low but at least your principal will be safe as long as you keep any CD accounts below the $250,000 FDIC insured amount.

As we head into the month of December it appears we are no where near a resolution on tax cuts and spending cuts. Washington probably won’t come to an agreement until sometime in January, after we fall off the fiscal cliff or hill if you will. Warren Buffett said this morning on CNBC that he feels Washington will come to an agreement eventually but he doesn’t think it will happen this year, read more on CNBC Buffett Expects ‘Fiscal Cliff’ Fix, But Not By December 31.

Even if there is an agreement in 2012 some damage to the economy has already been done as companies pared back on investing and hiring starting in the third quarter of 2012. This will dampen company earnings in the current quarter and in turn send stock prices lower.  Once an agreement has been made stocks will rally again since many economists and investors believe the economy will take off.

Until we reach that point now is a good time to sell stock and place those sale process into short term certificates of deposit. I have compiled a list of the best CD rates on 1 month and 3 month certificates of deposit.

Short Term Certificate of Deposit Rates

Best 1 Month CD Rates 

  • Virtual Bank Rates 0.25%
  • E-Loan Rates 0.15%
  • Alostar Bank of Commerce 0.10%
  • Citizens Trust Bank 0.05%
  • Lone Star Bank 0.05%

Best 3 Month CD Rates

  • E-Loan Rates 0.65%
  • EverBank Rates 0.57%
  • Virtual Bank Rates 0.50%
  • AloStar Bank of Commerce Rates 0.45%
  • OneWest Bank Rates 0.45%
  • Barclays Bank Rates 0.40%
  • Discover Bank Rates 0.40%
  • Ally Bank Rates 0.39%

These bank CD rates might be shocking too you if you haven’t search for rates recently. If you’re willing to go out longer term on a certificate of deposit investment you can find 12 month CD rates at banks higher than 1.00 percent. Granted you won’t get rich or even keep up with the pace of inflation investing only in certificates of deposit but during these uncertain economic times it is better to hold onto your principal and earning a low rate!

Author: Stacy Everest
November 28th, 2012

Average CD rates on 2 year certificates of deposit remain unchanged at 0.40 percent in the Federal Deposit Insurance Corporation’s Weekly National Rates and Rate Caps survey for the week ending November 13, 2012. Average 2 year jumbo CD rates are not much higher in this week’s survey averaging 0.42 percent, unchanged from the November 5, 2012 survey.

The rate cap on regular 2 year bank CD rates remained unchanged at 1.15 percent and the rate cap 2 year jumbo CD rates also remained unchanged at 1.17 percent. The FDIC’s rate cap is a rule that was implemented in 2009 for “less than well capitalized financial institutions.” The cap is determined by adding 75 basis points to the average CD rate.

It’s hard to get excited about CD rates these days since rates are so incredibly low. To give you a little perspective on how low CD bank rates are these days, if you look back to May 2009 in the FDIC average rate survey two year CD interest rates were averaging 1.29 percent and the 2 year rate cap was at 2.04 percent. Average jumbo bank CD rates were higher as well at 1.58 percent with the jumbo CD rate cap at 2.33 percent.

These days it’s hard to find 5 year CD rates that are above 2.00 percent, finding a 2 year CD rate even near 2.00 percent is impossible unless the rate is some short term promotional rate or you might find some credit unions offering 2 year rates near 2.00 percent but they severely limit the deposit amount that can earn a rate that high.

Current average bank CD rates and the highest rates are much lower these days, prepare yourself for sticker shock. The highest CD rates on 24 month certificates of deposit also remained unchanged this week. The best CD rates on our 2 year rate list are at 1.24 percent with an APY of 1.25 percent. Two banks are currently offering that CD rate and CD yield, CIT Bank and Barclays Bank. CD rates at these banks are more than three times the current FDIC national average. These rates are also almost three times the average jumbo CD rate in this week’s FDIC survey.

Unfortunately the future direction of average CD rates and the best CD rates is dismal for the next couple of years. Eventually after 6 to 8 years of very low rates we will finally see rates increase. How much rates increase will be depend on how fast the economy grows and the rate of inflation.

We have been battling deflation for several years now and the Federal Reserve has kept the Fed funds rate at near zero percent to help the economy. Until the Fed starts increasing the Fed funds rate, CD rates won’t move much higher. The one positive out of this is rates are so low we don’t expect rates to decrease much further from here.

Author: James Martin
November 19th, 2012

We are happy to report on slightly higher CD rates this week as we have a new best CD rate and a major online bank increasing 12 month bank CD rates. The best CD rates on our 12 month certificate of deposit rate list moved up 1 basis point. The bank offering the highest CD rates right now on 1 year CD accounts is able Banking at 1.10 percent with an APY of 1.12 percent.

The old highest rate was from Alostar Bank of Commerce at 1.10 percent with an APY of 1.11 percent. Alostar Bank only held the top spot for about 2 months which means a few banks are increasing rates. The increases are not much but at least the top CD rates at banks are moving higher and not lower.

The best CD interest rates on our list are also more than 4 times the FDIC national average rate of 0.25 percent. In fact, the best rates on our list are also more than 4 times the FDIC average jumbo 12 month CD rate of 0.26 percent. Our top 12 month rates are also higher than the FDIC average 60 month CD rate of 0.88 percent and jumbo CD rate of 0.89 percent. Here is a quick list of the top CD rates this week:

Best CD Bank Rates

  1. AbleBanking Rate 1.10% APY 1.12%
  2. Alostar Bank of Commerce Rate 1.10% APY 1.11%
  3. CIT Bank Rate 1.09% APY 1.10%
  4. Bank of Internet Rate 1.09% APY 1.10%
  5. California First National Bank Rate 1.05% APY 1.06%
  6. NexBank Rate 1.05% APY 1.05%
  7. Ally Bank Rate 1.04% APY 1.05%
  8. Sallie Mae Bank Rate 1.04% APY 1.05%
  9. Colorado Federal Savings Bank Rate 1.04% APY 1.05%
  10. MetLife Bank Rate 1.04% APY 1.05%
All the banks listed above have certificate of deposit accounts insured by the FDIC max of $250,000. In fact, all the banks listed on our rate table have deposits insured by the FDIC.

 

Author: Stacy Everest
November 12th, 2012

Now that the Election is over the markets are firmly focused on the Fiscal Cliff heading our way in the new year. Both equity and commodity prices tumbled yesterday as investors ran for the exist worried about the financial problems in Europe, automatic spending cuts and the Bush tax cuts ending in the United States.

Until these issues are resolved now is probably a good time to reduce your exposure to equities and commodities and place those funds into a certificate of deposit. Current CD rates on both short term and long term certificates of deposit are low but your capital won’t be at risk, that is if you keep your deposit amount with interest below the FDIC insured maximum of $250,000.

I recommend sticking with short term certificates of deposit that way you can in a position to sell once the CD matures and reinvest in stocks and commodities. Yes you could just sell stocks or commodities and the money is automatically placed in a brokerage money market account but the interest rate on money market accounts are considerably lower than the best CD rates around.

For example, brokerage money market accounts on average are paying less than 0.05 percent while the highest CD rates right now on 1 year certificates of deposit are paying 0.25 percent. Right now on our 1 month CD rates at banks list Virtual Bank is paying a 30 day CD rate of 0.25 percent.

If you want a slight higher CD rate you can invest in a longer term certificate of deposit like a 3 month or 6 month certificate of deposit. Bank CD rates on these certificate of deposit terms are natually higher. Current bank CD rates on 90 day certificates of deposit can be found as high as 0.65 percent from E-Loan.com. In fact, that is probably one of the best CD rates available on any 3 month certificate of deposit.

Moving onto 6 month CD interest rates, Doral Bank is offering an incredibly high CD rate of 0.91 percent on a 6 month certificate of deposit. If you haven’t invested in CD accounts in the past several years these CD bank rates probably seem very low to you but these rates are consideribly higher than average CD rates availabe.

Every week the Federal Deposit Insurance Corporation (FDIC) publishes weekly average bank CD rates. In this past week’s survey the average 1 month CD rates were at 0.07 percent, 3 month CD rates were at 0.10 percent and 6 month CD rates averaged 0.16 percent. The rates we publish are all much better CD rates than the average rates available.

Remember the longer the term you select to temporarly place your proceeds from your sale of equities, bonds or commondities the higher the CD rate you will receive but you also run the risk of having to do an early withdrawal if the fical cliff is resolved.

Author: Monica Harris
November 8th, 2012

As 1 month U.S. Treasury yields almost doubled since the beginning of the month average CD rates haven’t budged at all. On October 1st, 1 month bond yields were averaging 0.05 percent. Yesterday 1 month bond yields closed at 0.12 percent, a more than 100 percent gain in a few weeks. The highest CD rates on 1 month certificates of deposit from Virtual Bank remain unchanged at 0.25 percent. still more than double the average 1 month bond yield.

Could this mean higher short term bank CD rates in the near future? Probably not since banks are in no hurry to raise deposits but increasing CD interest rates and the Fed is keeping downward pressure on interest rates. If fact you’re probably better off placing your monies into 1 year certificates of deposit which are the best rate/term right now.

12 month CD rates at banks are averaging 0.25 percent in the Federal Deposit Insurance Corporation’s Weekly National Rates and Rates Cap Survey for the week ending October 15, 2012. The rate cap in this week’s survey is at 1.00 percent. The best CD rates on 1 year certificates of deposit are just above 1.00 percent at 1.10 percent.

The highest CD rates on 12 month certificates of deposit for the week of October 19, 2012, are from AloStar Bank at 1.10 percent with an APY of 1.11 percent. Two banks are tied with the second highest bank CD rates on our rate list this week. Bank of Internet USA and CIT Bank are both offering 1 year CD rates at 1.09 percent with an APY of 1.10 percent.

The top CD bank rates listed here are also higher than the FDIC’s average jumbo CD rates and jumbo CD rate cap for the week ending October 15, 2012. In this week’s survey jumbo CD rates are averaging 0.26 percent and the jumbo 12 month cap is at 1.01 percent, both lower than our best rates. Below is the list of the 10 best rates on 12 month certificates of deposit this week.

Top CD Rates October 19, 2012

  • AloStar Bank CD Rates 1.10% APY 1.11%
  • CIT Bank CD Rates 1.09% APY 1.10%
  • Bank of Internet USA CD Rates 1.09% APY 1.10%
  • MetLife Bank CD Rates 1.04% APY 1.05%
  • Colorado FSB CD Rates 1.04% APY 1.05%
  • Sallie Mae Bank CD Rates 1.04% APY 1.05%
  • Ally Bank CD Rates 1.03% APY 1.04%
  • California First National Bank CD Rates 1.03% APY 1.03%
  • E-Loan CD Rates 1.02% APY 1.02%
  • ableBanking CD Rates 1.00% APY 1.00%
  • Doral Bank CD Rates 1.00% APY 1.00%
  • GiantBank.com CD Rates 1.00% APY 1.00%
  • Discover Bank CD Rates 1.00% APY 1.00%
  • Barclays Bank CD Rates 0.90% APY 0.90%
Author: James Martin
October 19th, 2012

RatesORama.com one of the leading bank rate aggreator websites for finding the best CD rates, savings rates and mortgage rates has just released a database of credit union finanical information. The data base list credit unions by state and city so you can easly find credit unions in your city offering the highest CD rates. You can easily compare credit union certificate rates you see with our CD rates list to insure you can getting the best rates possible.

The credit union data base will default to credit unions in the state you are in. Credit unions are listed by city so you can easily find the credit unions that are local you to. Once you arrive on one of the credit union pages you will see the credit union’s address and telephone number.

Other information listed about each credit union includes the number of members, employees, total assets and total loans. Each credit union listed on our pages are members of the National Credit Union Administration. All credit union’s also have their deposit accounts insured by the NCUA for up to $250,000. Here is a complete list of credit union facts and information you will see, this information is on one of the largest credit unions Pentagon Federal Credit Union (PenFed).

If you’re not interested in credit union certificate rates you can also find links to pages that contain savings rates and mortgage rates in your state and city. Feel free to use our new credit union pages to find local credit unions in your area. You can easly compare credit union certificate rates along side bank CD rates to make sure you get the highest CD rates.

Author: James Martin
October 10th, 2012

Just in case you were holding out for higher CD rates in the next couple of years you can forget about it. The Federal Reserve Chairman recently commented that the Fed plans to keep the Fed funds rate at near zero percent until mid 2015 even if the economy gets stronger.

Interest bearing assets holders have hoped the Fed’s mantra of “economic conditions warrant exceptionally low interest rates until mid 2015” would change if the economy got stronger. The Fed Chairman, Ben Bernanke, just said the Fed expects the economy to be stronger before mid 2015 but inflation will remain low for the next three years. If inflation isn’t a concern for the Fed they have no reason to increase interest rates.

If you have a higher yielding certificate of deposit coming due over the next year or so you might want to think about locking in a higher three year CD rate. Though the best CD rates on 3 year certificates of deposit are less than 0.50 percent higher than the best CD rates on 1 year certificates of deposit.

Right now on our 3 year CD interest rates list the highest CD rates are from CIT Bank at 1.41 percent with an APY of 1.42 percent. Compare the highest 3 year rates with the highest 1 year rates on our list at 1.10 percent with an APY of 1.11 percent you see rates aren’t much better.

Which certificate of deposit term you invest in is ultimately up to you. Either way you’re barely keeping up with the pace of inflation investing in certificates of deposit but at least your principal is 100 percent safe as long as you invest in FDIC insured accounts and keep the account balance with interest earned below $250,000.

You can search for the highest CD rates at banks by using our rate lists. We list both local bank CD rates and national bank CD rates to insure you get the highest rates around.

Author: Stacy Everest
October 2nd, 2012

We heard more discouraging news this past week which will keep CD rates low for at least another three years thanks to the Federal Open Market Committee (FOMC). 12 month bank CD rates are averaging 0.26 percent this week while the best CD rates on 12 month certificates of deposit are still more than 4 times the national average. The highest CD rates on 1 year certificates of deposit on our rate list this week are from CIT Bank at 1.09 percent with an APY of 1.10 percent.

The FOMC has been keeping the Fed funds rate near zero percent for several years now and they have been saying the rate will remain at this level until the end of 2014. Just a week ago they came out and said they will keep the rate at near zero percent until mid-2015.

The FOMC also said they will continue buying long term bonds to drive interest rates lower. All this news doesn’t bode well for CD bank rates. While I don’t believe the highest CD interest rates can fall much further since rates are so low they will continue to decline in this slow pace we have seen the past several years.

To help make your search for the best CD rates on 12 month certificates of deposit we have complied a quick list of the top 10 rates here:

  1. CIT Bank CD Rates 1.09% APY 1.10%
  2. Bank of Internet USA CD Rates 1.09% APY 1.10%
  3. MetLife Bank CD Rates 1.04% APY 1.05%
  4. Colorado Federal Savings Bank CD Rates 1.04% APY 1.05%
  5. Ally Bank CD Rates 1.03% APY 1.04%
  6. Doral Bank CD Rates 1.01% APY 1.01%
  7. Discover Bank CD Rates 1.00% APY 1.00%
  8. ableBanking CD Rates 1.00% APY 1.00%
  9. AIG Bank CD Rates 0.90% APY 0.90%
  10. Barclays Bank CD Rates 0.90% APY 0.90%

As you can see the top ten 1 year CD interest rates on our rate list are many times the FDIC national average rate. All the banks listed above have deposits insured by the FDIC for up to $250,000. You can see how these 1 year CD rates at banks compare with other CD rates and terms by searching our rate tables.

Author: Monica Harris
September 25th, 2012

A relatively new entry to the scene of offering online CD rates is Able Banking which is offering the traditional certificate of deposit terms available with some of the highest CD rates around. In addition to offering very competitive bank CD rates ableBanking will also donate $25 to the charity of your choice (501c3 organizations only) when you open a certificate of deposit account.

ableBanking CD Rates and Bank ReviewAbleBanking donating to charity when you open an account isn’t one time deal. The bank also donates more money to your charity by giving 0.25 percent of your average balance every year on your “ableAnniversary”. The bank donates their own money, not your money.

I mentioned that ableBanking CD rates are very competitive, to show you how competitive rates are the bank’s current 12 month CD rate is at 1.00 percent with an APY of 1.00 percent. The best CD rates on 1 year certificates of deposit on our rate list are at 1.10 percent with an APY 1.11 percent. This puts ablebanking CD rates in the top 10 1 year bank CD rates on our rate list.

If you combine the percentage (0.25) amount of money that is donated to charity along with what current ableBanking CD rates of 1.00 percent the bank’s CD rates would come out on top of our list. So giving a percentage of your interest earning to charity is a noble thing to do, especially these times when so many people are hurting.

The bank’s shortest term certificate of deposit, 6 month, also has one of the highest CD rates at banks available right now. Current 6 month CD interest rates are at 0.75 percent with an APY 0.75 percent. That rate is better than most 1 year CD bank rates available today.

CD Rates ableBanking

  • 6 Month CD Rates 0.75% APY 0.80%
  • 1 Year CD Rates 1.00% APY 1.00%
  • 2 Year CD Rates 1.14% APY 1.15%
  • 3 Year CD Rates 1.29% APY 1.30%
  • 4 Year CD Rates 1.48% APY 1.50%

Regarding the bank’s charity work you can see this video to learn more about it:

Opening a certificate of deposit account at ableBanking is quick and easy: You can open an account online at the bank’s website here: ableBanking Account Application. To see how this bank’s CD rates compares to other bank CD rates available feel free use our rate tables.

Author: James Martin
September 23rd, 2012

Ever since the financial crisis participated by the collapse of Lehman Brothers in 2008, and the recession that followed, returns on interest bearing assets like certificates of deposit have been extremely low. Returns these days are not even keeping up with the pace of inflation. Average CD rates on both long term and short term certificates of deposit are very low and won’t be heading higher for at least another 3 years, longer than we all thought until recently.

Ben Bernanke and the Federal Open Market Committee had their meeting on economic policy last week and for the first time in several years changed the period of they plan to keep the Fed funds rate at an exceptionally low level. Until last week the Fed’s mantra has been that economic conditions warrant exceptionally low levels for the Fed funds rate until the end of 2014, now that period has been extended until the middle of 2015.

I personally believe the period of low rates will remain past mid 2015 since the Fed also predicts the unemployment level will still be above 6.00 percent in 2015, which is still above the historic norm. As a result the Fed will have to wait even longer to tighten economic policy by increasing interest rates. This means both short term bank CD rates and long term CD rates will remain low for a very long time to come.

Right now average 1 year CD rates at banks are at 0.26 percent in the FDIC Weekly National Rate Survey for this week. 1 year jumbo CD rates aren’t much higher at 0.27 percent. I remember back in 2008 you could find many banks offering CD interest rates on 1 year certificates of deposit at 5.00 percent or above, now the best CD rates on 1 year certificates of deposit are just above 1.00 percent.

Long term bank CD rates are just as low these days since the CD rate curve is flat just like the yield curve on U.S. Treasuries. The FDIC’s national average 5 year CD rate this week is at 0.94 percent and jumbo CD rates on 5 year jumbo CD accounts are averaging 0.95 percent.

The highest CD rates right now on 5 year certificates of deposit are below 2.00 percent. In fact, the highest CD rates on our 5 year rate list are at 1.83 percent with an APY of 1.85 percent. CIT Bank CD rates on 5 year CDs are currently the best on our list.

Author: Stacy Everest
September 18th, 2012

Ally Bank’s certificates of deposit come in three flavors and all have some of the highest CD rates available right now. Ally offers regular CD accounts that have the traditional fixed CD rate until the maturity date. Regular certificates of deposit are currently available in terms of 3 months to 5 years.  Right now the best CD rates deal is on Ally’s 12 month certifcates of deposit with a current rate of 1.03 percent with an APY of 1.04 percent.

The next type of certificate of deposit is Ally’s No Penalty CD. With this type of CD you are allow to take a penalty-free early withdrawal any time during the CD term as long as it is after the first 6 days when the CD account is funded. This type of certificate of deposit is only available in an 11 month term. Current CD rates on this No Penalty CD are at 0.94 percent with an APY of 0.94 percent.

The No Penalty CD is a good way to lock in a higher rate than typical savings account rate or money market account rate with still having the ability to withdrawal your money at anytime without paying a penalty. The typical early withdrawal penalty on a 1 year certificate of deposit is 6 months to 12 month interest earned, basiscally any interest earned is taken away.

The last type of certificate of deposit offered at Ally Bank is their Raise Your Rate CD. There are other banks offering this type of CD account which might also be referred to as a Bump-Up certificate of deposit. At Ally Bank this CD is available in terms of 2 years and 4 years.

The 2 year certificate of deposit term allows you to raise your CD interest rate once after opening the CD account if Ally raises the 2 year CD rate. The 4 year certificate of deposit allows you to raise your rate two times if Ally Bank increases the 4 year CD rate at any time after you open the account.

With the highest CD rates right now so low it’s more than likely CD rates will move higher in 2 years to 4 years so this type of CD which already has one of the best rates for the term can be a good investment if rates move higher in the future. The alternative is to close the certificate of deposit early and pay a penalty which can run over a year’s interset on a 2 year CD or 4 year CD.

The current 2 year Raise your Rate CD rate is at 1.13 percent with an APY of 1.14 percent. The 4 year CD rate is at 1.43 percent with a 1.44 percent APY. These rates are considerbly higher than the FDIC’s national average rates and are some of the highest CD rates available in general.

Here is a complete list of current regular CD rates at Ally Bank:

  • 3 months CD Rate 0.39% APY 0.39%
  • 6 months CD Rate 0.75% APY 0.75%
  • 9 months CD Rate 0.74% APY 0.74%
  • 12 months CD Rate 1.03% APY 1.04%
  • 18 months CD Rate 0.94% APY 0.94%
  • 3 years CD Rate 1.29% APY 1.30%
  • 5 years CD Rate 1.68% APY 1.69%

Opening and funding a certificate of deposit at Ally Bank is very easy. If you’re not comfortable opening an account online you can download the application and send it in via regular mail. To open a CD account at Ally visit the bank’s website here: Ally Bank Certificate of Deposit Application.

To see how Ally Bank CD rates compare with other CD rates at banks feel free to use your rate list. We list the highest CD rates at banks ranging between 1 month and 5 years.

Author: Robert Till
September 12th, 2012

As we head into September the highest CD rates available and average CD rates available continue to decline overall. There are some bank CD rates that have gone higher this week but overall CD rates have remained consistently low for the past several years. I personally don’t expect all types of deposit rates and current mortgage rates to increase until 2015 when the Fed ends their policy of keeping the Fed Funds rate at an “exceptionally low level for the foreseeable future”. Rates might increase before 2015 if the economy picks up but that is unlikely as we head into the third year of slow economic growth.

The Federal Deposit Insurance Corporation’s national rate survey this week has 12 month CD rates at 0.26 percent. Jumbo CD rates are  averaging 0.28 percent this week, not much higher than regular rates. The highest CD rates on 12 month certificates of deposit can be found about four times the FDIC national average 12 month CD rate.

CIT Bank CD rates on 12 month certificates of deposit are at 1.09 percent with an APY of 1.10 percent for account balances of at least $25,000.  AlsoStar Bank of Commerce recently increased the rate they pay on 12 month bank CD rates from 1.00 percent to 1.09 percent which now tops our 12 month rate list. CD rates at Bank of Internet for 12 month certificates of deposit are also at 1.09 percent with an APY of 1.10 percent.

Highest 1 year CD Rates

  1. CIT Bank CD Rates 1.09% APY 1.10%
  2. Bank of Internet CD Rates 1.09% APY 1.10%
  3. Also Star Bank of Commerce CD Rates 1.10% APY 1.10%
  4. MetLife Bank CD Rates 1.04% APY 1.05%
  5. Ally Bank CD Rates 1.03% APY 1.04%

The highest 24 month CD rates right now are only 15 basis points above the highest 12 month CD rates. When you compare the best 2 year CD rates with the average 2 year CD rates things start to look a little better. Right now the FDIC’s national average 2 year CD rates at banks is at 0.43 percent while jumbo CD rates at banks are averaging 0.45 percent.

The best 24 month CD bank rates on our rate list are around 1.25 percent. Alo Star Bank of Commerce is offering 24 month CD rates at 1.25 percent with an APY of 1.26 percent. Right behind AlsoStar is CIT Bank with CD rates at 1.24 percent with an APY of 1.25 percent.

Highest 2 year CD Rates

  1. AlsoStar Bank CD Rates 1.25% APY 1.26%
  2. CIT Bank CD Interest Rates 1.24% APY 1.25%
  3. Doral Bank CD Rates 1.17% APY 1.18%
  4. Discover Bank CD Rates 1.14% APY 1.15%
  5. Barclay Bank CD Rates 1.14% APY 1.15%
  6. Able Banking CD Rates 1.14% APY 1.15%

Considering CD rates probably won’t move higher for another 30 months at least you might want to lock in a 2 year rate right now. Or you can lock in a 3 year CD term, right now the best CD rates on 36 month certificates of deposit are at 1.41 percent with an APY of 1.42 percent. CIT Bank CD rates on 3 year CDs are at that rate and yield.

Author: James Martin
September 6th, 2012

Since all types of CD rates are low these days and the CD rate curve is flat between short term and long term rates you’re better off investing only in shorter term certificates of deposit. This way you can take advantage of rising rates in the future. Rates will stay low until the beginning of 2015 so investing in CD terms of two years or less is best. Investing in longer term CDs won’t really benefit you that much as far as the rate of return and if rates do move higher you’re missing out on higher rates or have to make an early withdrawal incurring a penalty.

Average 3 month CD rates are low these days just like CD rates on all certificate of deposit terms. The FDIC’s current national average 3 month CD rate is at 0.11 percent. Jumbo CD rates on 3 month certificates of deposit are only averaging 0.12 percent in the FDIC’s rate survey this week.

Thankfully the highest CD rates on 91 day certificates of deposit are well above the average rate. The best CD rates on 3 month CD accounts on our rate table are 6 times the FDIC average. Current 3 month bank CD rates at EverBank are listed on our rate table at 0.66 percent with an APY of 0.66 percent.

Besides EverBank’s 3 month rate we all have many other CD rates at banks listed on our rate list which are well above the national average rate. The second best CD rate on our 3 month rate list is from E-Loan.com. Current 3 month CD interest rates at E-Loan are offered at 0.65 percent with an APY of 0.65 percent.

Next on our 3 month rate list we find AloStar Bank of Commerce. Current 3 month CD rates at AlsoStar Bank of Commerce are offered at 0.45 percent with an APY of 0.45 percent,, this bank’s CD rates are still well above the national average. Following is a current list of the best CD rates on 3 month certificates of deposit.

3 Month CD Rates Highest Bank Rates

  1. EverBank CD Rates 0.66% APY 0.66%
  2. E-LOAN CD Rates 0.65% APY 0.65%
  3. AloStar Bank of Commerce CD Rates 0.45% APY 0.45%
  4. Ally Bank CD Rates 0.44% APY 0.44%
  5. Discover Bank CD Rates 0.40% APY 0.40%
  6. Barclays Bank CD Rates 0.40% APY 0.40%
  7. USAA Bank CD Rates 0.35% APY 0.35%
  8. First Internet Bank of Indiana CD Rates 0.35% APY 0.35%
  9. American Bank CD Rates 0.25% APY 0.25%
  10. Giant Bank CD Rates 0.25% APY 0.25%

Since all types of CD rates are low these days and the CD rate curve is flat between short term and long term rates you’re better off investing only in shorter term certificates of deposit. This way you can take advantage of rising rates in the future. Rates will stay low until the beginning of 2015 so investing in CD terms of two years or less is best. Investing in longer term CDs won’t really benefit you that much as far as the rate of return and if rates do move higher you’re missing out on higher rates or have to make an early withdrawal incurring a penalty.

Author: Robert Till
September 4th, 2012

The CD rate curve between the shortest term and longest term certificates of deposit is flat these days. The highest CD rates on 6 month certificates of deposit are only about 1 percent less than the highest bank CD rates on 5 year certificates of deposit. That being said you’re better off investing in short term CDs. We have compiled a list of the best CD rates on 6 month certificates of deposit. If you know of a higher CD rate let us know and will mention it.

The best 6 month CD rate on our rate list is from Doral Bank at 0.92 percent with an APY of 0.92 percent. The FDIC’s current national average 6 month CD rates at banks is way less at 0.17 percent. All the 6 month rates we list here are well above the FDIC’s average rate.

The second best 6 month rate on our list is from three different banks. Ascencia, a div. of PBI Bank, Colorado Federal Savings Bank and EH National Bank are all offering 6 month CD interest rates at 0.80 percent with an APY of 0.80 percent.

Best 6 Month Bank CD Rates

  • Doral Bank Rates 0.92% APY 0.92%
  • Ascencia, a div. of PBI Bank Rates 0.80% APY 0.80%
  • Colorado Federal Savings Bank Rates 0.80% APY 0.80%
  • EH National Bank 0.80% APY 0.80%
  • AloStar Bank of Commerce Rates 0.76% APY 0.76%
  • ableBanking CD Rates 0.75% APY 0.75%
  • Discover Bank CD Rates 0.75% APY 0.75%
  • Ally Bank CD Rates 0.75% APY 0.75%

There are many more 6 month CD rates at banks listed on our rate table that are many times the FDIC national average rate. All the bank’s listed on our rate tables are also FDIC insured for the maximum allowed by law. You can search or the highest CD interest rates for CD terms ranging between 1 month and 5 years on our rate lists.

Author: Monica Harris
August 31st, 2012

Average CD rates right now for 1 year certificates of deposit are averaging 0.27 percent in the FDIC’s national average rate survey. 1 year jumbo CD rates are only 1 basis point higher at 0.28 percent. On our 1 year bank CD rates list you can find many banks offering CD rates well above the averages.

Find the highest CD rates at banks by searching our CD interest rates list here: Highest CD Rates.

The highest CD rate on our 1 year rates list is more than four times the FDIC average. CIT Bank CD rates on 1 year certificates of deposit are currently offered at 1.09 percent with an APY of 1.10 percent.

Another bank offering 12 month CD rates at 1.09 percent with an APY of 1.10 percent is Bank of Internet. You can easily open certificate of deposit accounts at both banks online.

The second highest CD rates on our list are from two more banks. Colorado Federal Savings Bank and MetLife Bank are both offering 12 month CD bank rates at 1.04 percent with an APY of 1.05 percent. Almost four times the FDIC national average.

The third best CD rate on our 12 month rate list is from a California bank. EH National Bank is offering 12 month certificate of deposit rates at 1.02 percent with an APY of 1.02 percent.

The fourth top CD rate on our 12 month interest rate is from Doral Bank. Current bank CD rates at Doral Bank are offering at 1.01 percent with an APY of 1.02 percent.

Ally Bank CD rates on 1 year certificates of deposit round out the top 5 CD rates on our list. Current Ally Bank CD rates on 1 year certificates of deposit are being offered at 1.00 percent with an APY of 1.01 percent.

Top 1 Year CD Rates August 24, 2012

  • CIT Bank CD Rates 1.09% APY 1.10%
  • Bank of Internet CD Rates 1.09% APY 1.10%
  • Colorado Federal Savings Bank CD Interest Rates 1.04% APY 1.05%
  • MetLife Bank Rates 1.04% APY 1.05%
  • EH National Bank CD Rate 1.02% APY 1.02%
  • Doral Bank Rate 1.01% APY 1.02%
  • Ally Bank CD Rates 1.00% APY 1.01%
  • ableBanking CD Rates 1.00% APY 1.00%
  • Ascencia Bank CD Rates 0.95% APY 0.95%
  • Discover Bank CD Rates 0.90% APY 0.90%

Since the best CD rates at banks are very low these days for all CD terms we recommend staying on the short end of terms. When CD rates finally do rise you don’t want to be stuck in a long term low yielding CD account.

You can search for the best CD rates and savings account rates by using our rate tables.

Author: Stacy Everest
August 24th, 2012

There haven’t been any big moves in average CD rates at banks or the highest CD rates available for any certificate of deposit term. The FDIC’s current national average bank CD rate for 12 month certificates of deposit is at 0.27 percent. Jumbo CD rates aren’t averaging much higher at 0.29 percent.

Right now 1 year CD rates table there are banks offering rates much higher than the FDIC’s national averages. CIT Bank CD rates on 1 year certificates of deposit are at 1.09 percent with an APY of 1.10 percent. Bank of Internet is also offering 1 year bank CD rates at 1.09% with an APY of 1.10 percent.

The second best CD rates on our list are from MetLife Bank and Colorado Federal Savings Bank. MetlLife Bank CD rates and Colorado FSB CD rates are both at 1.04 percent with an APY of 1.05 percent.

MetLife Bank was started by the insurance company MetLife but the insurance company is in the process of selling the division to G.E. Capital. It will be interesting to see if G.E. Capital lowers the CD rates once it takes over the bank. Even if G.E. does lower the rates it probably will hon0r any existing rates that are locked in by investors.

Highest 1 Year CD Rates

  • CIT Bank CD Rates 1.09% APY 1.10%
  • Bank of Internet Bank Rates 1.09% APY 1.10%
  • MetLife Bank CD Rates 1.04% APY 1.10%
  • Colorado Federal Savings Bank CD Rate 1.04% APY 1.05%
  • EH National Bank CD Internet Rates 1.02% APY 1.02%
  • Doral Bank CD rates 1.01% APY 1.02%

Moving onto the best CD rates on 2 year certificates of deposit we find CIT Bank has the sole spot for the best 2 year rate. Current CIT Bank CD rates on 2 year certificates of deposit are at 1.24 percent with an APY of 1.25 percent.

AbleBanking has the second highest 2 year CD rate on our list. The bank’s current 24 month CD rate is at 1.19 percent with an APY of 1.20 percent. Here is a list of the top CD rates on 2 year certificates of deposit.

Best 2 Year CD Rates

  • CIT Bank CD Interest Rates 1.24% APY 1.25%
  • ableBanking CD rates 1.19% APY 1.20%
  • Doral Bank CD Interest Rates 1.18% APY 1.19%
  • Discover Bank CD Rates 1.14% APY 1.15%
  • Barclays Bank CD Rates 1.14% APY 1.15%
  • Ally Bank CD Rates 1.13% APY 1.14%

All these 2 year CD interest rates are well above the FDIC’s national average 2 year rate of 0.44 percent. These rates also top the FDIC’s average 2 year jumbo CD rate of 0.46 percent.

You can find the highest bank CD rates for many different certificate of deposit terms by searching our rate lists.

Author: Monica Harris
August 17th, 2012

Ally Bank CD rates on 1 year certificates of deposit have been raised and now are one of the top 1 year CD rates available. Current 1 year bank CD rates at Ally are going for 1.03 percent with an APY of 1.04 percent. That rate puts Ally’s rate in the top 5 of the best CD rates on 1 year certificates of deposit.

The FDIC’s current national average bank CD rates on 1 year certificates of deposit are at 0.27 percent. Ally’s CD rate almost four times the FDIC national average.

Only a few other 12 month CD rates are higher than Ally Bank’s rate. CIT Bank CD rates are at 1.09% and MetLife Bank CD rates are both slightly higher than Ally Bank’s rate.

Ally Bank CD rates on other certificates of deposit are also some of the best CD rates at banks available right now. For example, current 3 month CD rates at Ally Bank are at 0.44 percent, four times the FDIC’s national average 3 month bank CD rate of 0.11 percent.

CD Rates Ally Bank

Ally Bank High Yield CD Rates

  • 3 months CD Rate 0.44% APY 0.44%
  • 6 months CD Rate 0.75% APY 0.75%
  • 9 months CD Rate 0.74% APY 0.74%
  • 12 months CD Rate 1.03% APY 1.04%
  • 18 months CD Rate 0.98% APY 0.98%
  • 3 years CD Rate 1.33% APY 1.34%
  • 5 years CD Rate 1.73% APY 1.74%

Ally Bank Raise Your Rate CD Rates

  • 2 Years CD Rate 1.13% APY 1.14%
  • 4 Years CD Rate 1.48% APY 1.49%

Ally Bank No Penalty CD Rates

  • 11 Month CD Rate 0.94% APY 0.94%

Notice how Ally doesn’t offer the same certificate of deposit term on any of their certificate of deposit products? They made sure that none of their products overlap.

Of course the highest CD rates are on Ally’s longest term certificate of deposit at 1.73 percent with an APY of 1.74 percent. The FDIC’s national average 5 year CD bankrates are at 1.01 percent. Ally 5 year CD rate is also near the top of the FDIC’s rate cap of 1.76 percent for 5 year CD rates.

For a list of current rates go to the bank’s website here: Ally Bank Rates. You can see how high Ally Bank’s CD interest rates are by comparing CD rates from many different banks below:

Author: Robert Till
August 11th, 2012

CIT Bank, the online banking division of CIT Group consistently has some of the highest CD rates around. When we first reported on CIT Bank CD rates last fall the bank had the best CD rates around for 1 year Achiever certificates of deposit at 1.14 percent with an APY of 1.15 percent.

Current CIT Bank CD rates on 1 year certificates of deposit are still the highest CD rates on our rate list at 1.09 percent with an APY of 1.10 percent. CD rates at CIT Bank are well above the FDIC’s national average rate of 0.27 percent. The bank’s rate is also well above the national average jumbo CD rates at banks of 0.29 percent.

CIT Bank’s Achiever certificate of deposit has a minimum opening balance of $25,000. You can open a regular certificate of deposit at CIT Bank with as little as $1,000 and earn a rate of 1.05 percent with an APY of 1.06 percent.

CIT Bank CD Rates

Achiever CD Rates and APY

  • 12 Month CD Rates 1.09% APY 1.10%
  • 24 Month CD Rates 1.24% APY 1.25%

Term CD Rates and APY

  • 6 Month Term CD Rate 0.45% APY 0.45% 
  • 1 Year Term CD Rate 1.05% APY 1.06% 
  • 2 Year Term CD Rate 1.19% APY 1.20% 
  • 3 Year Term CD Rate 1.41% APY 1.42% 
  • 5 Year Term CD Rate 1.84% APY 1.85%

Jumbo CD Rates and APY

  • 2 Year Jumbo CD Rate 1.24% APY 1.25% 
  • 3 Year Jumbo CD Rate 1.43% APY 1.44% 
  • 5 Year Jumbo CD Rate 1.89% APY 1.90%

The bank’s jumbo CD rates are some of the best CD rates at banks available right now. In fact you probably won’t find higher jumbo bank CD rates anywhere.

Opening a certificate of deposit account at CIT Bank is an easy process since the bank has done a great job on their website. You can also fund your new CIT Bank CD account by electronic transfer.

CIT Bank also offers valuable information to help you with your investment decisions. The bank offers a free savings calculator and CD ladder calculator.

For a list of current CD rates at CIT Bank or to open an account go to the bank’s website here: CIT Bank CD Application.

Author: Monica Harris
August 6th, 2012

I remember just a few years ago when 2 year CD rates were above 5.00 percent now you can’t find 2 year CD rates at banks above 2.00 percent. The FDIC’s national average rate is even more pathetic for 2 year certificates of deposit.

The current FDIC national average is a paltry 0.45 percent. Jumbo CD rates aren’t much higher when it comes to the national average. Current jumbo bank CD rates are averaging 0.47 percent. Thankfully there are bank CD rates in our rate database considerably higher than the average CD bank rates.

The best CD rates on 2 year certificates of deposit on our rate list is from two different banks. CIT Bank CD rates and Astoria Federal Savings Bank CD rates are both at 1.24 percent with an APY of 1.25 percent. Almost three times the FDIC’s national average.

Another Bank that is currently offering 24 month CD rates almost three times the national average is ableBanking. The bank is a division of Northeast Bank and is offering 24 month CD rates at 1.19 percent with an APY of 1.20 percent.

Best 2 year CD Rates

  • CIT Bank CD Rates 1.24% APY 1.25%
  • Astoria Federal Savings Bank CD Rates 1.24% APY 1.25%
  • AbleBanking CD rates at Banks 1.19% APY 1.20%
  • The National Republic Bank of Chicago Rates 1.15% APY 1.16%
  • Discover Bank CD Rates 1.14% APY 1.15%
  • Doral Bank CD Interest Rates 1.14% APY 1.15%
  • Ally Bank CD Rates 1.13% APY 1.14%

There are many more bank CD rates in our database that have rates well above the national average. You can search for and compare the highest CD rates from many different banks by searching our rate lists for your state.

Author: James Martin
August 3rd, 2012

Right now the best CD rates around on 1 year certificates of deposit are just above 1.00 percent. One of the best CD rates available for a 1 year CD is from CIT Bank at 1.09 percent with an annual percentage yield (APY) of 1.10 percent. CIT Bank CD rates on 1 year CDs are well above the FDIC’s national average rate of 0.28 percent.

Other Banks offering 12 month bank CD rates well above the national averages include Doral Bank which is also offering 12 month CD interest rates at 1.09 percent with an APY of 1.10 percent.

Colorado Federal Savings Bank and MetLife Bank CD rates on 1 year CDs are also above the average and above 1.00 percent. Current CD rates at banks are at 1.04 percent with an APY of 1.05 percent.

EH National Bank is currently offering 1 year CD rates at 1.03 percent with an APY of 1.03 percent. Ally Bank CD rates on 1 year CDs are slightly lower at 1.01 percent with an APY of 1.02 percent.

1 year Bank CD rates

  • CIT Bank CD rates 1.09% APY 1.10%
  • Doral Bank CD Interest Rates 1.09% APY 1.10%
  • Colorado FSB CD Rates 1.04% APY 1.05%
  • MetLife Bank CD Rate 1.04% APY 1.05%
  • EH National Bank CD Bank Rate 1.03% APY 1.03%
  • Ally Bank CD rates 1.01% APY 1.02%
  • AloStar Bank of Commerce CD Rates 1.00% APY 1.01%

There are many more CD rates at banks on our list that are offering 1 year rates above the national average. You can also see banks that are offering rates below the averages on our list. Search for the highest CD rates available on our rates list.

Author: Monica Harris
July 31st, 2012

The highest CD Rates on 5 year certificates of deposit are under 2.00 percent. The current national average 5 year CD rates at banks is just above 1.00 percent at 1.04 percent in the FDIC’s weekly rate survey. Jumbo CD rates on 5 year jumbo certificates of deposit are also averaging 1.04 percent.

Right now one of the highest CD rates on 5 year certificates of deposit is from CIT Bank. The banking arm of the CIT group currently has 5 year CD interest rates at 1.83 percent with an APY of 1.85 percent. The minimum opening deposit for a CIT Bank CD account is $1,000 and interest is compounded daily.

Some more CD rates well above the FDIC’s national average rate include Discover Bank CD rates, IGOBanking CD rates and Third Federal Savings CD rates. 5 year rates at Discover Bank and IGOBanking are at 1.73 percent with an APY of 1.75 percent. Third Federal Savings and Loan is offering 5 year CD rates at 1.74 percent with an APY of 1.75 percent.

5 Year CD Rates July 27, 2012

  1. CIT Bank Rate 1.83% APY 1.85%
  2. Discover Bank Rate 1.73% APY 1.75%
  3. IGOBanking Rate 1.73% APY 1.75%
  4. Third Federal Savings & Loan Rate 1.74% APY 1.75%
  5. American Bank Rate 1.69% APY 1.70%
  6. Intervest National Bank Rate 1.69% APY 1.70%
  7. Ally Bank Rate 1.68% APY 1.69%
  8. USAA Bank Rate 1.65% APY 1.66%
  9. OneWest Bank Rate 1.64% APY 1.65%
  10. Metropolitan National Bank CD Rate 1.64% APY 1.65%

You might think twice about locking in a 5 year CD rate so low. I thought this a couple of years ago when 5 year rates were in the 3 percent range, of course know I wished I did lock in a rate.

The best CD rates on 1 year CDs are just above 1.00 percent so that might be a better option for you. You can always lock in a 5 year rate and if rates do rise pay a penalty for an early withdrawal and move the money into a higher shorter term rate.

Author: Stacy Everest
July 27th, 2012

Third Federal Savings and Loan one of the larger banks around is offering some of the highest CD rates on long term certificates of deposit available. 5 year bank CD rates at Third Federal Savings and Loan are going for 1.74 percent with an APY of 1.75 percent.

Though Third Federal Savings and Loan is offering one of the best CD rates on a 5 year certificate of deposit the rate still isn’t any where near where bank CD rates were a few years ago.

Just a few years ago you could get shorter term CD rates at banks at 1.75 percent but those days are gone right now. The highest CD rates on 1 year certificates of deposit are just above 1.00 percent and probably won’t be moving higher for many years to come.

I remember just before the financial crisis 1 year CD interest rates were between 3.50 percent and 5.00 percent. Now most 1 year rates are below 1.00 percent and the highest CD rates on 1 year CDs are just above 1.00 percent.

Unfortunately the bank’s other CD interest rates are not as good when compared to other CD bank rates. Current 6 month rates are at 0.35 percent with an APY of 0.35 percent.

Third Federal Savings and Loan CD Rates

  • 6 Month CD Rates 0.35% APY 0.35%
  • 1 Year CD Rates 0.40% APY 0.40%
  • 2 Year CD Rates 0.60% APY 0.60%
  • 5 Year CD Rates 1.74% APY 1.75%

If you don’t like the rates Third Federal Savings and Loan is offering you can compare CD rates from many different banks below:

Author: James Martin
July 23rd, 2012

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

American Express Bank, the banking arm of the credit card company American Express, is offering some competitive CD rates right now. The bank’s CD rates are not the best CD rates around they still are competitive none the less.

One interesting development recently with American Express Bank is they rasied their savings account rates on their online savings account but CD rates weren’t increased. The savings rate was increased to 0.85 percent from 0.75 percent last month.

Today’s 12 month bank CD rates are being offered at are at 0.55 percent with an APY of 0.55 percent. While that isn’t one of the highest CD rates at banks around for a 1 year CD it is better than the FDIC’s national average 1 year rate of 0.28 percent.

It is interesting that American Express Bank only increased the online savings account rate and not their CD rates. Choosing between the savings account or 1 year certificate of deposit I would have to choose the savings account because of the 30 basis point difference.

Yes, savings accounts are variable rate accounts which means the rates can change at anytime and certificates of deposit are fixed rate accounts but the savings rate is so low I doubt Amex will lower it down to 0.55 percent. considerable amount.

American Express Bank CD Rates

  • 6 month CD Rate 0.45% APY 0.45%
  • 12 month CD Rate 0.55% APY 0.55%
  • 18 month CD Rate 0.60% APY 0.60$
  • 24 month CD Rate 0.80% APY 0.80%
  • 36 month CD Rate 0.90% APY 0.90%
  • 48 month CD Rate 1.00% APY 1.00%
  • 60 month CD Rate 1.09% APY 1.10%

For more information about opening an American Express certificate of deposit or for a list of current CD rates go to: American Express Bank

Author: James Martin
July 6th, 2012

As we move into the second half to 2012 deposit rates are still very dismal and will be low until at least 2014 and probably beyond into 2015 or 2016. The current national average 1 year CD rate is at 0.28 percent according to the FDIC and the best CD rate right now is from Doral Bank at 1.14%.

When CD rates will start moving higher again depends on the economy and when the Federal Reserve will start raising interest rates. The Fed has stated the past several years that the economic outlook warrants exceptionally low interest rates until the end of 2o14.

Other CD rates at banks which are well above the national averages include CIT Bank which is currently offering a 1 year bank CD rate at 1.09 percent with an APY of 1.10 percent on CIT Bank’s Achiever certificate of deposit. Regular CD rates at CIT Bank are at 1.04 percent with an APY of 1.05 percent. The Achiever CD account requires are minimum opening balance of $25,000.

Two more banks offering 1 year rates at 1.04 percent with an APY of 1.05 percent include MetLife Bank and Colorado Federal Savings Bank. The minimum opening account balance at CFSB is $5,000. The minimum opening balance for a MetLife CD account is also $25k to receive the rate and yield. MetLife Bank also has two other 1 year CDs with lower minimum opening deposits with lower CD rates.

MetLife Bank CD Account balances of $2,000 to $14,999 earn a CD rate of 0.85 percent, account balances of $15,000 to $24,999 earn a rate and yield of 0.95 percent.

Ally Bank CD rates on 1 year certificates of deposit were recently lowered by 1 basis point to 1.01 percent with an APY of 1.02 percent. Ally Bank has consistently been in the top 5 CD rates available for the past several years.

Author: Robert Till
July 2nd, 2012

The Federal Open Market Committee (FOMC) had their June meeting and released a statement saying they plan to their current highly accommodating policy in place. Which means more of the same, low CD rates, savings rates and mortgage rates.

The FOMC also announced they plan to keep the Federal Funds rate in a targeted range of zero percent to one quarter percent to foster economic growth. The FOMC also said they continue to anticipate current economic conditions will warrant these exceptional low rates until the end of 2014.

Unfortunately for those out there who are net savers will continue to lose out. One of the hardest hit demographic are retirees who rely on interest income as their sole source of income.

Right now the best CD rates on 1 year certificates of deposit are just above 1.00 percent. Longer term CD rates are even more pathetic. The highest CD rates on 5 year certificates of deposit are just below 2.00 percent. The best savings account rates are also just above 1.00 percent and dropping weekly.

While savers lose out those who borrow more than they save are the real winners. With current mortgage rates today on 30 year conforming loans under 4.00 percent you can save tens of thousands or hundreds of thousands of dollars in interest over the life of a loan.

15 year mortgage rates today are under 3.00 percent, if you can afford the higher payments with a 15 year loan that’s where the real savings are.

Ever since the economic crisis of late 2008 interest rates have been falling to record lows. From the FOMC statement we can expect that all types of interest rates, except credit card rates, will stay this way past 2014.

You can see the Fed Chairman, Ben Bernanke, talk about current policy in this video:

Author: Stacy Everest
June 25th, 2012

More often than not you can find some of the best CD rates at credit unions. Freedom Credit Union has one of the highest CD rates on a long term share certificate. Freedom Credit Union’s current 60 month CD rate is at 1.98 percent with an APY of 2.00 percent. That 5 year rate is higher than most CD rates at banks right now.

Other share certificate rates at Freedom CU are competitive. For example, right now the current 6 month CD rate at the credit union is 0.55 percent with an APY of 0.55 percent. This CD rate is considerably higher than the national average CD rate of 0.18 percent and credit union CD rates.

12 month CD interest rates are currently at 0.70 percent with an APY of 0.70 percent. 12 month bank CD rates on average are currently at 0.28 percent so you can see the theme here, Freedom’s rates are higher than the average rates available at banks or credit unions.

Freedom Credit Union CD Rates

  • 6 Month CD Rate .55 APY .55
  • 12 Month CD Rate .70 APY .70
  • 18 Month CD Rate .80 APY .80
  • 24 Month CD Rate 1.00 APY 1.00
  • 36 Month CD Rate 1.39 APY 1.40
  • 48 Month CD Rate 1.74 APY 1.75
  • 60 Month CD Rate 1.98 APY 2.00

Freedom offers these CD rates on Term Share Certificates of Deposit (CDs), Individual Retirement Account (IRA) CDs, IRA Savings Accounts, Coverdell Education Savings Account (ESA) CDs, ESA Savings Accounts, and Health Savings Account (HSA) CDs.

The minimum opening deposit for people 26 and over is $500 while the minimum for those members who are 25 and younger is only $250. It’s nice to see the credit union lower the opening deposit for younger members who are just starting out in life learning how to save money.

Author: James Martin
June 21st, 2012

Finding the highest CD rates around is challenging right now because even the highest CD rates are rather low. We recently were contacted by a loyal reader (he wants to remain anonymous so lets just call him Bob), of RatesORama.com who asked for us to compile a list of the best CD rates from Florida Credit Unions.

Bob is retired and relies on investment income from certificates of deposit and savings accounts because at this stage in is life he needs his principal to be 100 percent safe. Unfortunately for Bob and millions like him his investments aren’t really keeping up with inflation so getting the best rate possible is a necessity.

The highest CD rates around on 1 year certificates of deposit or share certifcates are barely about 1 percent. The big national banks are offering really low rates because they aren’t interested in raising deposits. There are some big banks like Ally Bank or Discover Bank which offer really good CD rates.

You can usually get better certificate of deposit rates from local banks or credit unions. Like right now in Florida there are many credit unions offering really good share certificate rates on 12 month certificates, here is a list of a few.

Share Certificate Rates (CD Rates) from Florida Credit Unions

  1. South Florida Federal Credit Union 1.05%
  2. Platinum Federal Credit Union 1.00%
  3. Navy Federal Credit Union 0.90%
  4. Wiregrass Federal Credit Union 0.90%
  5. Eglin Federal Credit Union 0.90%

The rates above are the best share rates available at credit unions but right now Ally Bank CD Rates on 1 year certificates of deposit are at 1.02 percent with APY of 1.03 percent.

Author: Stacy Everest
June 15th, 2012

We all know CD rates, savings account rates and other deposit rates have extremely low since the financial crisis and recession. One of the direct side effects of the Fed’s policy of driving interest rates into the ground is hurting investors who rely on interest income.

The latest Wells Fargo/Gallup Investor and Retirement Optimism Index shows 1 in 3 (33%) of investors say low current interest rates will delay retirement for them.  

A greater number of non-retired Americans, 45 percent, feel low current interest rates will cause them to live longer then their money lasts. 34 percent of Americans that have already retired also feel they won’t have enough money, basically out living their money.

A majority of non-retired investors say lower interest rates are good for consumers and businesses, and the benefits outweigh the costs. That is definitely true for home owners since mortgage rates today are at record lows.

Another interesting thing about this survey is many investors have made riskier investment decisions because of low rates. 26 percent of non-retired Americans have made riskier bets and 19 percent of retired Americans have taken on more risk with their investments. With the best CD rates just above 1.00 percent and inflation at 3.00 percent you have to make riskier investments to stay ahead of inflation.

About one third of investors also feel low current interest rates will lead to a sharp increase in inflation in the years ahead. For the past several years many on the right side of politics feel the Fed’s economic policies is causing higher inflation and a declining value of the dollar.

That hasn’t happened yet and with an economy slowing down the Fed will probably embark on more quantitative easing to drive long term interest rates even lower.

U.S. investor optimism fell to +24 percent from +40 percent back in February. Besides low interest rates health care costs have also caused many to delay retirement.

Author: Robert Till
June 11th, 2012

American Express Bank is still offering CD rates and savings account rates higher than the averages but the bank’s  rates are not the best CD rates around. American Express bank became a bank holding company during the financial crisis in order to raise deposits when the short term credit markets froze. Amex also just recently increased the rate the bank pays on it’s online savings account from 0.75 percent t0 0.85 percent.

Amex Bank’s 1 year bank CD ratespay less than the savings account at 0.55 percent with an APY of 0.55 percent. It will be interesting to see if Amex increases CD rates like the savings account rate was increased. Though an increase is unlikely since the economy is slowing down and interest rates are falling.

Back in 2009 1 year CD interest rates at Amex Bank had a 1.75% APY. Current CD rates on 1 year certificate of deposits are at 0.90%. Amex’s 1 year rate is still better than most rates and considerably higher than the current national average 12 month CD rate.

CD Rates – American Express

  • 6 Month Rate 0.40% APY 0.40%
  • 12 Month Rate 0.55% APY 0.55%
  • 18 Month Rate 0.60% APY 0.60%
  • 24 Month Rate 0.80% APY 0.80%
  • 36 Month Rate 0.90% APY 0.90%
  • 48 Month Rate 1.00% APY 1.00%
  • 60 Months Rate 1.09% APY 1.10%

Some of the benefits of opening an Amex CD account is you never have to visit a bank branch. You can open an account online and fund the account by bank transfer. When you transfer money in the account you earn interest on the very business say the bank receives your deposit.

You can also deposit and withdrawal money by check if you perfer. Here is the mailing address:

American Express Bank, FSB
P.O. Box 30384
Salt Lake City, Utah 84130

There are no fees or minimums to maintain with Amex’s CD accounts. Oh by the way Amex CD accounts are insured for up to $250,000 per account, per depositor.

Author: Robert Till
June 5th, 2012

Current average 1 year bank CD rates are only at 0.29 percent according to the FDIC. There are many banks offering rates several times the FDIC’s national average rate of 0.29 percent and one bank, Barclays Bank, actually increased their CD rates. Right now, one of the highest CD rates right now for a 1 year certificate of 0deposit is from Doral Bank at 1.14 percent with an APY of 1.15 percent.

Another bank offering one of the best CD rates right now for a 1 year certificate of deposit is CIT Bank at 1.09 percent with an APY of 1.10%. The 1.09 percent CD rate is on CIT Bank’s Achiever CD which has a minimum deposit of $25,000. Regular 1 year CD rates at CIT Bank are going for 1.05 percent with an APY of 1.06 percent.

Ally Bank CD rates for 1 year certificates of deposit isn’t too far behind Doral Bank and CIT Bank. Current 1 year CD rates at Ally Bank are being offered at 1.03 percent with an APY of 1.04 percent. Ally Bank CD Rates on July 11, 2011 weren’t much higher at 1.19 percent with an APY of 1.20 percent.

Barclays Bank which had been offering 1 year bank CD rates at 0.90 percent recently increased their 1 year rates to 1.00 percent with an APY of 1.00 percent. This is on the heals of CIT Bank increasing their 1 year CD rates at banks to 1.09 percent from 1.04 percent.

Another national bank offering CD interest rates more than three times the FDIC’s average rate include Discover Bank. Current Discover Bank CD rates for 1 year certificates of deposit are at 0.90 percent with an APY of 0.90 percent.

Author: Monica Harris
May 29th, 2012

CD rates are at historically low levels right now and you probably have heard the Fed’s policy on keeping interest rates low until the end of 2014. The Fed’s exact wording is “likely to warrant exceptionally low levels for the federal funds rate at least through late 2014”. 

We know that CD rates, savings rates and mortgage rates today are low right now and probably will remain so until 2015 unless the economy starts expanding considerably more than is likely. That being said if you want to lock in one of the highest rates around and have a CD mature just as rates finally start moving higher in 2015, investing in 3 year CDs is probably the best choice you can make.

Besides making sure your CD is maturing just as rates move higher, current 4 year CD rates aren’t much lower than 4 year or 5 year rates. You can also make the argument that 1 year and 2 year rates are not much lower than 3 year rates which is true but why not maximize your investment even if 3 year rates are only marginally higher.

Now that I have made the argument for investing in 3 year CDs here are some of the best CD rates available for 3 year CDs. Doral Bank’s current 3 year CD rates are at 1.49% with an APY of 1.50%. CIT Bank is another bank offering of the highest 3 year rates around. Current 3 year rates at CIT Bank are at 1.41% with an APY of 1.42%.

Here is a list of some of the best rates available for 3 year certificates of deposit.

  • Doral Bank 1.49% APY 1.50%
  • CIT Bank 1.41% APY 1.42%
  • Barclays Bank 1.39% APY 1.40%
  • Discover Bank 1.34% APY 1.35%
  • USAA 1.30% APY 1.31%
  • Ally Bank 1.29% APY 1.30%

Contact us if you see 3 year rates better than the rates listed here.

Author: Monica Harris
May 21st, 2012

Quick, someone pinch me, I must be dreaming. Did you hear that a bank increase some CD rates and savings rates? Yes, this isn’t a dream, CIT Bank which had already been offering some of the highest rates around increased the rate they pay on some deposit products.

Granted the increase in rates wasn’t significant but you can’t expect rates to be moving much in either direction. The biggest increase in rates on on CIT Bank’s savings account for account balances of $25,000 or more. The savings account APY was raised from 0.90% to 1.05%. While 15 basis points isn’t much the percentage increase was over 16%! Not bad when practically all banks have been lower rates the past several years.

The increase in the bank’s CD rates wasn’t as much. CIT Bank’s 1 year CD rates on their Achiever certificate of deposit was increased from 1.07% to 1.09%. The APY was increase from 1.08% to 1.09%. CIT Bank which also offers 2 year Achiever CDs increased the 2 year rate from 1.19% to 1.24%. The APY was increased from 1.20% to 1.25%. 

CIT Bank’s Achiever CDs have a minimum opening deposit of $25,000. Achiever CDs also allow you to add to your CD account one time at any point you choose throughout the CD term.

Current CIT Bank CD rates and Savings Account Rates:

Achiever CD Rates (minimum $25,000 deposit)

  • 1 Year CD Rate 1.09% APY1.10%
  • 2 Year CD Rate 1.24% APY 1.25%

Jumbo CD Rates (minimum $100,000 deposit)

  • 2 Year CD Rate 1.24% APY 1.25%
  • 3 Year CD Rate 1.43$ APY 1.44%

Term CD Rates (minimum $1,000 deposit)

  • 6 Month CD Rate 0.45% APY 0.45%
  • 1 Year CD Rate 1.05% APY 1.06%
  • 2 Year CD Rate 1.19% APY 1.20%
  • 3 Year CD Rate 1.41% APY1.42%

CIT Savings Account Rates

  • Savings Account Rate 0.90% APY 0.90% (minimum to open)
  • Savings Account Rate 1.04% APY 1.05%($25,000 to open)

Hat’s off to CIT Bank for bucking the trend and raising deposit rates!

Author: James Martin
May 15th, 2012

Depositors have been suffering with the lowest CD interest rates in a generation. 5 year CD interest rates which top out at 1.79% right now are lower than 1 year CD rates were just a few years ago. 1 year rates at banks and credit unions are mostly under 1.00% these days.

The national average rates are even lower. With the FDIC’s rate cap financial institutions have been forced to lower rates to say within the cap of a maximum of 75 basis points above the average rates. Many banks have been forced to lower rates as a result.

Third Federal Savings and Loan is offering one of the best CD rates around for a 5 year certificate of deposit. Current 5 year rates at Third Federal are currently offered at 1.78% with an APY of 1.80%. While this rate is considerably lower than it was a few years ago it’s still better then the national average of 1.10%.

Other national banks offering rates far above the average for a 5 year CD include Discover Bank and Barclays Bank at 1.73% with an APY of 1.75%. All these banks rates are within the FDIC’s 5 year rate cap of 1.85%. Discover has a minimum opening deposit of $2,500 and Barclays has no minimum.

Ally Bank CD rates on 5 year CDs are being offered at 1.68% with an APY of 1.69%. There is no minimum opening deposit for this rate and yield at Ally Bank.

Many investors face a conundrum when investing in CDs right now. Just when you think rates can’t go any lower they do. Investors might be enticed to lock in a 5 year rate right now to avoid riding the rate wave even lower. 

While I don’t know where rates will be in 5 years I do recommend going with a bank that has a lower early withdrawal penalty. If rates go up in the next 5 years you can cash in your CD, pay an early withdrawal penalty that doesn’t sting as bad and still take advantage of rising rates.

Author: James Martin
May 8th, 2012

Mortgage Rates CurrentPathetically low CD rates just keep getting more and more pathetic as time goes by. We’re at a point now that the best rates on 1 year certificates of deposit are barely above 1.00%.

Recent economic data pointing to an economy that is slowing will put even more downward pressure on rates. Banks still don’t seem to be interested in collecting deposits to make loans which is also keeping CD rates and savings rates low.

Forget getting any decent rates from any of the large banks like Chase, Bank of America, Citibank or WellsFargo. These big national banks are all offering 1 year rates that are around  the FDIC’s national average 12 month rate of 0.30%.

To get 1 year CD interest rates above 1.00% you’ll have to search out local credit unions or some online banks. Several banks offering 1 year rates higher than 1.00% include Doral Bank at 1.14%, CIT Bank at 1.07%. MetLife Bank at 1.04% and Ally Bank at 1.03%.

The Federal Reserve is also putting downward pressure on all interest rates by keeping the Fed Fund’s rate in a targeted range of zero percent to one quarter percent. The Fed plans to keep the rate at these levels until the end of 2014.

If CD rates, savings rates and other rates stay as low as they are now into 2014 that will be one of the longest periods of ultra low rates. How i long for the days of even a 3% rate on a 1 year CD. I remember back in 2008 just before the financial crisis Washington Mutual (remember them?) was offering a 1 year CD rate at 5.25%.

Author: Stacy Everest
May 3rd, 2012

Platinum Federal Credit Union CD rates are very competitive on both the short term and long term yield curve. Platinum Federal Credit Union’s CD rates are tiered and based on the account deposit amount. The dividend CD rates are better than most credit union CD interest rates and better than most bank CD rates.

6 month CD rates are at 0.75% for account balances of $1,000 to $9,999. Have more than $9,999 to deposit into a CD account? Well if you do you can earn a 6 month CD rate of 0.85%.

Regardless of whether you have less than 10K or more than 10K to deposit the credit union’s 6 month CD rates are some of the highest CD rates around. When compared to the national average 6 month CD rate of only 0.19% the rates look even better.

Platinum Federal Credit Union is also offering other share CD rates including 1 year, 2 year, 3 year and 5 year CD rates. Of course the highest CD rates are on 5 year share certificates at 1.75% for deposits of 1k to 10k. Deposits of 10k or more earn a rate of 2.00%.

These rates might not seem like much historically speaking but when compared to the national average 5 year rate of 1.10% this credit union’s rates are some of the best CD rates around.

Platinum Federal Credit Union CD Rates

Deposits of 1k to 10k

  • 6 month CD rate 0.75%
  • 12 month CD rate 0.90%
  • 24 month CD rate 1.00%
  • 36 month CD rate 1.25%
  • 60 month CD rate 1.75%

Deposits of 10k or more

  • 6 month CD rate 0.85%
  • 12 month CD rate 1.00%
  • 24 month CD rate 1.25%
  • 36 month CD rate 1.50%
  • 60 month CD rate 2.00%

As with any credit union you have to join Platinum Federal Credit Union to open a CD account. You also have to be eligible to open an account. You can find out eligibility requirements at platinumfcu.org.

If you’re unable to join this credit union you still can get some of the best CD rates at national banks. For example right now Ally Bank is offering 12 month CD rates at 1.03%. Other banks offering 1 year bank CD rates above 1.00% include CIT Bank at 1.08% and MetLife Bank at 1.05%.

Author: James Martin
April 24th, 2012

Ally Bank’s CD rates have come down over the past few years just like all bank CD rates. The good news is Ally still offers one of the best CD rates around for a 1 year certificate of deposit. The current 1 year Ally Bank CD rate is at 1.01% with an APY of 1.02%. Last June 1 year Ally Bank CD rate was 1.19% with an APY of 1.20%.

You might think a CD rate just north of 1.00% isn’t that high, well generally speaking the rate isn’t high but when you compare it to the FDIC’s national average 12 month CD rate of 0.30% it looks a lot better.

Ally Bank CD rates on other certificate of deposit terms are also some of the highest CD rates around. The longest CD term, 5 year, has a current bank CD rate of 1.73% with an APY of 1.74%. Much higher than the national average 5 year CD rate of 1.11%.

To tell you the truth I wouldn’t open a 5 year CD interest rate at 1.73%. Why do you ask? CD rates at banks and credit unions have been dismal for the past 4 years and are going to finally head higher in the coming years. That being said you should stick to shorter term CD rates so you can ride the wave of higher CD rates in the years to come.

Ally Bank’s shortest term CD, their 3 month CD, has a current CD rate of 0.39% with an APY of 0.39%. This rate is more than 4 times the national average 3 month rate of 0.09%.

Opening a CD account at Ally Bank is easily done online.  Ally Bank’s website is easy to navigate and intuitive. You can also talk to an Ally Bank rep over the phone or via chat anytime of day. For more info go to ally.com.

Author: James Martin
April 3rd, 2012

CD Rates

As we are well into 2012 you have probably noticed CD rates are still very low, in fact current CD rates are dismal. The same can be said for savings account rates and money market rates. We’ll if you think 2012 will bring higher rates, think again. The FDIC’s current National average 12 month CD rate is 0.31%. I remember when one could receive that rate on a checking account.

Of course you can find CD rates higher than the FDIC’s average but don’t expect to see rates that much higher. Right now one of the best CD rates on a 12 month CD is from CIT bank at 1.07%, with an APY of 1.08%. You might not think that rate is good but the best CD rates on 1 year CDs are just north of 1.00%. Most banks and credit unions are offering 1 year CD rates at less than 1.00%.

The main factor in keeping rates low on all deposit accounts is the Fed’s current policy of keeping the Fed funds rate at zero to one quarter percent. The Fed also said they plan to keep interest rates low until 2014. So these pathetic CD rates will be around for another 2 years.

If you’re in the market for a mortgage low rates will probably save you more money and any interest earned on a deposit account. Mortgage rates today on 30 year home loans are averaging 4.05% while current mortgage rates on 15 year home loans are averaging 3.32%.

Yes there is hope savings rates, CD rates and money market rates will increase before than but even if rates do move higher don’t expect much. Inflation will have to become a big concern for the Fed to move rates a lot higher. If that does happen you can expect rates to increase dramatically in a short period of time.

The more likely scenario is rates staying low for another year and then we might see gradual increases of one quarter percent in the Fed Funds rate. The Fed Fund’s rate moving slightly higher will translate into bank CD rates moving slightly higher but not in tandem with the Fed’s increases.

To sum up we recommend sticking to shorter term certificates of deposit since the yield curve is basically flat between 1 year CDs and 5 year CDs. The highest CD rates on 5 year CDs are just north of 2.00% while the FDIC’s National Average 5 year CD rate is 1.12%.

Author: Monica Harris
March 19th, 2012

Hudson City Savings Bank which has bank branches in New York, New Jersey and Connecticut is also offering online CD rates. The bank’s Internet CD rates are very competitive and are higher than most comparable CD rates available.

Find the best CD rates from many banks and credit unions here: RatesORama.com.

Hudson City Savings Bank’s highest CD rate is on their longest term certificate of deposit account of three years. The current 3 year bank CD rate is at 1.39% with an APY of 1.40%. The minimum opening deposit on 3 year certificates of deposit is $5,000.

The bank’s other online certificate of deposit is their 2 year CD. The current 2 year CD rate is 1.14% with an APY of 1.15%. The minimum opening deposit on 2 year certificates of deposit is also $5,000.

You can sign up for an CD account online here in a few minutes.  You will need to provide the following personal information:

  • Driver’s license
  • Previous home address (if you have lived at your home address less than two years)
  • Social Security number
  • U.S. checking or statement savings account to fund the account
  • You must be a U.S. citizen or a U.S. resident alien.

Hudson City Savings Bank has been around a very long time, in fact, since the Civil War. The bank has has 127 branches in New Jersey, New York and Connecticut.

Author: James Martin
February 1st, 2012
Sallie Mae Bank, the banking division of the student loan company Sallie Mae is advertisting some of the highest CD rates currently available from any bank. Sallie Mae’s current 12 month bank CD rates are at 1.14% with bank CD yields at 1.15%. The current national average for 12 month CD rates as  year CD rate as reported by MonitorBankRates.com is less than half that rate at 0.429%.
 
Sallie Mae CD rates are also advertise for 3 year certificates of deposit and 5 year certificates of deposit. Current 3 year CD rates are at 1.29% with a CD yields at 1.30%. 60 month Bank CD rates are advertised at 1.59% with CD yields at 1.60%. You can use a CD Calculator to calculate how much interest you can earn at these rates.

Sallie Mae Bank CD Account Benefits

  • Interest is compounded daily and credited to the account monthly.
  • Early withdrawal penalties are 3 months of simple interest for CD accounts 12 months or less.
  • Early withdrawal penalties for CD accounts greater than 12 months are 6 months simple interest.
  • Accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000. FDIC Cert number is 58177.
  • No minimum account balance.
  • No monthly account fees.

For a list of current Sallie Mae CD rates and to open an account go to: Sallie Mae CD Rates and CD Account Application.

Author: Stacy Everest
November 28th, 2011

Velocity Credit Union (VCU) of Austin, Texas, is offering three special limited time CD rates (share rates) that are some of the best CD rates available right now until November 30, 2011.

The special CD rates include a 2 year CD rate at 1.50% with a CD yield of 1.51%. You’ll have a hard time finding 2 year CD rates at banks or credit unions higher than that rate. To give you an idea of how much better that rate is than the average rates the FDIC’s current national average rate on 2 year CDs is at 0.55%.

Moving onto 3 year CD rates at VCU which are currently at 2.10% with a CD yield of 2.12%. Again, that rate is probably one of the highest CD rates on any 3 year certificate of deposit right now. The FDIC’s national average 3 year CD rate is at 0.76%.

CD Rates at Volecity Credit Union Limited Time 5 Year APY at 2.83%

5 year CD rates at VCU are currently at 2.80% with a CD yield of 2.83%. Most bank CD rates or credit union CD rates on 5 year CDs are in the low 2.00% range or even below 2.00%.

We first reported on Velocity Credit Union CD rates back in August of 2011 and back then 5 year CD rates were only at 2.59% so higher CD rates months later is a good deal when most CD rates are going lower week by week.

VCU’s “Fall into a Great Rate” promotion only lasts until the end of November so you’ll have to move quickly if you want to take advantage of these rates. Read more here: VCU CD Rates.

Author: Monica Harris
November 19th, 2011

Cone Credit Union based in Neenah, Wisconsin, is advertising some of the best CD rates (term share rates) available today. Cone CU’s current 6 month CD ratesare at 0.89% with an APY of 0.90% for CD account balances of  $1,000 or more. The credit union’s 6 month share rates are well above the FDIC’s current national average 6 month CD rate of 0.23%.  In fact that rate beats most 12 month CD rates at banks right now. 

Other CCU share rates that are well above the average CD rates and some of the highest CD rates available include 1 year CD rates at 0.99% for account balances of $500 or more.

Account balances of $5,000 or more have an even higher share rate at 1.09% with an APY of 1.10% and account balances of $10,000 or more an a 1 year share rate at 1.19% with an APY of 1.20%.

All the 1 year share rates are well above the FDIC’s average of 0.35%. You probably won’t find CD rates higher than 1.19% on 1 year CDs right now.

CCU is also advertising 18 month rates at 1.34% with an APY of 1.35% for CD account balances of $10,000 or more. 24 month rates are at 1.44% with an APY of 1.45% for balances of 10k or more.

Information about joining Cone Credit Union and a list of current share rates can be found at the credit unions website here: conecu.org

Author: Stacy Everest
November 8th, 2011

Have you ever opened a certificate of deposit at a particular rate and annual percentage yield (APY) but wondered how much interest your CD account will earn? Well you can figure this out before opening an account by using a certificate of deposit calculator or CD calculator if you will.

In fact, a CD calculator can help you figure out what CD term and CD rate to invest in. Sure, you can use a regular calculator to figure out how much interest a CD account will earn over all but with a CD calculator you can see how much interest you will earn using both the rate and APY. In effect you can see how compound interest works.

There are many CD calculators available but of course the calculators are not all the same and some are far better than others. There are some CD calculators that offer more features than others including how how often interest is compounded on the CD account. 

Don’t know what compound interest is? Well compound interest is interest  earning interest. Confused?

Here’s an example, say you have $100,000 in a 5 year CD that earns a CD rate of 2.50%, yes unfortunately the best CD rates on 5 year CDs are around 1.00%, the first earn the account earns $2,500 in interest. The second year the CD account has $102,500 in it, now the second year the 2.50% CD rate is on the account balance $102,500, earning $2,562.50,  $62.50 more in interest.

In this example interest was compounded annually but most CD accounts have interest compounded daily or monthly which will result in a higher APY and more interest earned.

So next time before you invest in a CD use a CD calculator to know how much the account will earn. You can also search for the highest CD rates right here at ratesorama.com using our CD rates list. We also have a list of the highest savings account rates and mortgage rates today.

Author: Stacy Everest
October 24th, 2011

Brokered certificates of deposit (CDs) are a different animal than regular bank CDs. Even if you have invested in CDs for years you probably don’t understand how different brokered CDs are if you never invested in one. With a regular CD you figure out the term you want to invest in, then go out and compare CD rates. Brokered CDs are more complex and carry some risk that regular CDs don’t.

The biggest difference being if you decide to invest in a CD, go out and purchase one then decide you need access to your money sooner you might lose some of your principal investment. Why? Because the broker won’t buy back the CD, you have to try and sell the CD in a secondary market which isn’t really that liquid.

Investment Tip: Before you invest in a CD use a CD calculator to figure out how much money your CD investment will return.

When you open a regular bank CD or credit union CD the financial institution you open the account with is issuing you the CD. With a brokered CD the broker is reselling a CD the broker bought from a financial institution. This can make for another unwanted situation so you need to identify the issuer of the CD, which is different from the broker you are buying the CD from.

For example, say you have $250,000 deposited at Bank of America. Now let’s say the broker you are opening a brokered CD with bought the CD from Bank of America (issuer). You deposit another $100,000 into this brokered CD. Now you have $350,000 deposited at Bank of America. The FDIC puts Bank of America into receivership which means the bank has failed. You’re $350,000 deposit is over the FDIC insured max of $250,000, you lose $100,000.

You can buy a brokered CD from a well known company like Charles Schwab, Fidelity or other investment companies. If you decide to buy a brokered CD from a company you never heard of before you will need to do a background check. Unfortunately deposit brokers do not have to go through any licensing or certification process. There are no state or federal agency that licenses and examines these companies.

Identify the Issuer – Because federal deposit insurance is limited to a total aggregate amount of $250,000 for each depositor in each bank or thrift institution, it is very important that you know which bank or thrift issued your CD. In other words, find out where the deposit broker plans to deposit your money.

Your deposit broker may plan to put your money in a bank or thrift where you already have CDs or other deposits. You risk not being fully insured if the brokered CD would push your total deposits over the $250,000 federal deposit insurance limit.

Now that you have a better understanding of brokered CDs you can go out and search for the best brokered CD rates. Personally I think you can get higher CD rates directly from a bank or credit union without the risks. You can compare the best CD ratesright here at ratesorama.com.

Author: Stacy Everest
October 18th, 2011

If you’re new to certificate of deposit (CD) investing you’re probably discovering investing in a CD is one of safest investments you can make. With the stock markets declining in value and the VIX (market volitiity index) high right now you’re probably wondering what investment to make.

Another investment that has had a negative return the past several year is real estate. In fact if you stayed out of the stock market and real estate market the past five years you are ahead of the game. Unfortunately most people are investing in real estate in their primary residence and the stock market through their IRA account.

A good place for your emergency cash account is in a certificate of deposit or savings account. Both CD rates and savings rates aren’t paying that much but at least you won’t lose any of your principal investment as long as you stay under the FDIC insured amount.

There are many different types of CD accounts with many different CD terms, shopping around for the best fit for you will maximize your returns. When you invest in a traditional CD you place your money into a timed account with a financial institution like a bank or credit union. You agree to keep the money in the CD account for a set term which can range from a day to many years.

The financial institution pays you a better CD interest rate than you would receive from a checking account or most savings accounts. Although you agree to have the money in the account for a fixed period of time you can have access to your money before the term ends but you will pay a penalty for this privilege.

These days many banks and credit unions offer more flexable types of CD accounts like a change to “bump-up” or increase the CD rate on the account if market CD rates rise during the CD term. Another type of CD account allows the investor to add money into the CD every month or withdraw money early without a penalty.

Ally Bank offers CD accounts that allow you to raise the interest rate or withdrawal money without penalty before the CD matures. In addition, Ally Bank CD rates are some of the best CD rates available right now.

When shopping for certificates of deposit with the highest CD rates ask what type of account it is. Can you raise the CD rate, can you take money out early without penalty, can you add money into the account after opening it. Also find out when the CD matures and mark the date on a calender.

Besides banks and credit unions you can also open a CD account at a brokerage firm. These types of CD accounts differ so be sure you understand what you’re getting into when you invest. The Federal Deposit Insurance Corporation (FDIC) protects your investment up to $250,000 if the bail fails.

Author: Stacy Everest
October 10th, 2011

There are many different types of certificates of deposit (CD) available to you. Don’t be dazzled by very high CD rates. The right CD for you might actually have a lower CD rate, and less risk associated with the CD than other types of CDs you are considering.

Before you run out a invest in a CD, or search online, you need to make sure you fully understand all the aspects, terms and carefully read the disclosure statement of the CD. As with any purchase you need to comparison shop, ask questions and verify answers with an unbiased source. These CD tips can help you and other investors decide if you’re picking a CD that’s appropriate for your investment needs.

Before you make any investment decisions you should first think about what your Financial Goals are. Take a long and honest look at your entire financial situation,your needs, long term and short term. The first step to successful CD investing is figuring out what your goals and risk tolerance are. Most people can figure this out on their own but you might decide you need professional financial help. CDs and other cash equivalents, such as savings accounts, treasury bills, money market deposit accounts, and money market funds, are all slightly different types of investments.

When you’re comparison shopping you’ll see bank CD rates and bank savings account rates will differ. The highest savings account rates might not be as high as the best CD rates available. Two of the most important things when investing in deposit accounts is the safety of the investment which is FDIC insured for up to $250,000. The second important thing is the  inflation risk, are you staying ahead of inflation? If not you run the risk that inflation will outpace and erode returns over time.

Find out when your CD matures, most people forget to stay on top of this. This simple step will save you money if you find out your CD was renewed for another year, five years or even ten years. Again, breaking a CD before it matures will cost you an interest penalty. These days you’ll be shocked to see how low CD rates are as compared to CD rates just a few years ago.

Before you invest in a CD, make sure to have the CD maturity date in writing and write the date down on your calender or have a reminder on your email program. Looking into any call features the CD has, being able to lock in a higher CD rate for a long period of time is restricted with a callable CD. Callable CDs give the issuing bank the right to terminate the CD after a set period of time, but of course the CD investor doesn’t have that same right.

If CD interest rates go lower by a large amount, the issuing bank might call the CD. In that case, you should receive the full amount of your original deposit plus any unpaid accrued interest. But you’ll have to shop for a new one with a lower rate of return.

Author: Monica Harris
October 3rd, 2011

The recent budget talks between Republicans and Democrats in Washington over the budget and raising the debt ceiling limit didn’t help investor confidence at all. A more important fact is the economy started to slow down as business and individuals stayed on the sidelines when it came to spending and investing. As a result the economy looks more and more like it contacted in the 3rd quarter of 2011.

All this bad news and the Feds decision to do the twist, force shorter term bond yields higher and longer term bond yields lower as forced CD rates, savings account rates and mortgage rates lower. If you’re searching for deposit rates you probably have seen lower bank CD rates and bank savings account rates. If you have been searching for mortgage rates I’m sure you have seen today’s mortgage rates on 30 year conforming loans hit an all time low this past week.

Don’t expect interest rates to increase anytime soon. The economy continues to grow a very slow pace, to slow in fact to bring the unemployment rate down. A higher unemployment rate will keep wage pressures down which will keep inflation down. Low inflation will mean low interest rates on certificates of deposits, savings accounts and mortgage loans.

If you’re new to certificate of deposit (CD) investing you might be wondering what a CD is. Investing in a CD is one of the safest investments an individual or business can make. What determines most CD interest rates are what prevailing interest rates are doing at the time. Most CDs have a fixed CD rate but some CDs have variable rates and some are tied to indexes.

A typical CD account is like a savings account, you’re principal is 100% safe and guaranteed by the government (FDIC) as long as you keep your CD deposit amount under $250,000. Now that you have a good general understanding of what CDs are, how they fuction and what are obligations are when investing in a CD you should now go out and try to find the best CD rates available. 

When you search for the highest CD rates you should also make sure to compare the same maturity dates. For example, compare a 1 year CD rate with another 1 year CD rate. Check to make sure if the CD is non-callable or callable, which basically means the bank and force you to cash in the CD before the maturity date.

A bank might call a CD if interest rates tumble in a short period of time. If you invest in a variable interest rate CD account, then your CD rate will be affected by lower interest rates as well but you would benefit when CD rates move higher as well.

Since interest rates are near record lows and the economy is less than rosy what should you do? I would stick to investing in shorter term CD accounts at fixed rates. Investing in a savings account subjects you to a change in interest rates at anytime. At least with a CD you know how much the interest rate is and how much money you are going to earn on your investment.

Author: James Martin
September 30th, 2011

First Federal Savings and Loan Association of Valdosta, Georgia is offering some of the best CD rates available on short term certificates of deposit. Current 91 day CD rates are at 1.15% with a yield of 1.15%. That rate is much higher than the average 3 month CD interest rates available right now, in fact you probably won’t find 3 month CD rates better than that rate.

You can find the top CD rates available right now in your state by viewing our rate lists here: Top CD Rates.

There are many “First Federal Savings” banks so don’t confuse this bank’s CD rates with the other First Federal Savings out there, you can view a list all the CD rates at this bank here: Deposit Rates.

First Federal Savings and Loan Association is also offering 182 day and 1 year CD rates at 1.15%. intermediate term CD rates and long term CD rates at the bank are not one best rates out there.

For example, 5 year rates are at 1.80% with a yield of 1.81%. Discover Bank CD rates on 5 year CDs are at 2.18% with a yield of 2.20%. Aurora Bank CD rates on 5 year CDs are at 2.12% with a yield of 2.14% and Ally Bank CD rates are at 2.09% with a yield of 2.11%.

First Federal Savings and Loan Association CD Rates

Type of Account Minimum Deposit to Open Minimum Balance to Obtain APY ** Interest Rate APY **
91 Day $1,000 $1,000 1.15% 1.15%
182 Day $1,000 $1,000 1.15% 1.15%
1 Year $1,000 $1,000 1.15% 1.15%
13 Month $1,000 $1,000 1.20% 1.21%
2 Year $1,000 $1,000 1.35% 1.36%
25 month $1,000 $1,000 1.35% 1.36%
3 Year $1,000 $1,000 1.60% 1.61%
4 Year $1,000 $1,000 1.70% 1.71%
5 Year $1,000 $1,000 1.80% 1.81%
3 Year Youth Variable $250 $250 1.60% 1.61%
IRA 1 Year $250 $250 1.15% 1.15%
IRA 2 Year $250 $250 1.35% 1.36%
IRA 3 year $250 $250 1.60% 1.61%
IRA 5 Year $250 $250 1.80% 1.81%
IRA 5 Year Variable $250 $250 2.15% 2.17
*An early withdrawal penalty may exist for certificates. 
** Annual Percentage Yield 

First Federal Savings and Loan Association is also offering other deposit accounts including savings accounts and money market accounts. Savings account rates and MMA rates are not as high as the bank’s short term CD rates.

Author: Monica Harris
September 19th, 2011

In years past when a certificate of deposit matured you just let the deposit roll over into a new CD with the same term. CD rates were higher back then and while bank CD rates did fluctuate at least you got a return of 3% to 8% depending on the CD term. If you have a long term CD coming due you’re going to be in for a shock. These days CD rates at banks and savings account rates are so low the highest CD rates on 1 year CDs are just above 1.00% about the same for savings accounts.

1.00% for a 1 year CD isn’t much of a return,if you have $20,000 to invest for a year you’ll only earn $200 in interest. That isn’t much money especially if you’re a retiree trying to live on social security and invest income from CDs. Even if you’re not a retiree and just want a safe investment these days since the equities markets are so volatile.

While the best CD rates are nothing to write home about rates are a lot higher than U.S. Treasury yields. Current 1 year Treasury yields are at a measly 0.09% for a 1 year Tresury. Compare 0.09% to 1.00%, current CD rates are starting to look a lot better.

CD rates have been historically low since the Federal Reserve has kept interest rates low to help reinvigorate the economy. While low interest rates have been very good for borrows since today’s mortgage rates and auto loan rates are so low if you’re a saver you’re out of luck.

The inflation rate, excluding food and energy prices, has been low your return on your CD investment is better than you think. Factor in food and energy prices and the inflation rate is much higher, you’re actually not even staying ahead of inflation.

What should I do since CD rates are so low? There isn’t anything you can do to get a better return if you want to protect your principal investments. You can invest only in shorter term CDs so when CD rates finally start going higher you’re not lock into some long term CD with a pathetic interest rate.

Author: Robert Till
September 18th, 2011

Freedom Credit Union based of Springfield, Massachusetts, is advertising certificate rates that are very competitive with any bank or credit union in MA. The credit union’s highest certificate rate is on their 5 year certificate. Current 5 year rates are at 2.47% with a yield of 2.50%. You probably won’t find CD rates higher than that rate on a 5 year CD.

As with any credit union you’ll have to join Freedom to open a certificate account. If you’re not eligable you can view a list of the highest CD rates by searching our best CD rates list here: Best CD Rates. You can also view a list of the highest savings account rates here: Savings Account Rates.

Best Rates Freedom Credit Union Certificate Rates

6 Month Rate .79 APY .80
9 or 12 Month Special Rate 1.48 APY 1.50
18 Month Rate 1.19 APY 1.20
24 Month Rate 1.44 APY 1.45
36 Month Rate 1.93 APY 1.95
48 Month Rate 2.22 APY 2.25
60 Month Rate 2.47 APY 2.50

Freedom Credit Union is also offering advertising share rates and money market rates. The best savings account rates are on the credit union’s share which are at 0.30%. Money market account rates are higher at 0.99% with a money market yield of 1.00%.

If you’re searching for a mortgage to buy a home or refinance an existing mortgage the credit union is offering current mortgage rates on 30 year mortgages at 4.25% which is just above an all-time low of 4.09% for a 30 year loan.

Author: Monica Harris
September 15th, 2011

Crossroads Credit Unionbased in Goessel, Kansas, is offering one of the best certificate rates on a 3 month certificate. In fact, the credit union’s 3 month rate also is better than most 3 month CD rates at banks right now. Current 3 month rates are at 0.91% with an APY of 0.91%. That is one of the best share rates and best CD rates available today on a 3 month CD.

Other certificate rates at Crossroads Credit Union are also very competitive. Current 6 month rates and yields are at 1.00%. The credit union’s 6 month rate is one of the highest CD rates available and is four times the national average of 0.25% as reported by the FDIC.

1 year certificate rates are also higher than most 1 year rates available. Current 1 year rates are at 1.25% with a CD yield of 1.25%. That rate is higher than Ally Bank CD rates on 1 year CDs at 1.13% with a Ally Bank CD yield of 1.14%.

Crossroads Credit Union: Highest CD Rates

Certificate Term ** Rate APY* Minimum Balance
91 day 0.75% 0.75% $2,500.00
Money Market – monthly 1.00% 1.00% $2,500.00
6 Month 1.00% 1.00% $500.00
1 year 1.25% 1.25% $500.00
18 Month 1.50% 1.50% $500.00
30 Month 1.75% 1.75% $5,000.00

As with any credit union you’ll have to join Crossroads Credit Union to open a certificate account. To see if you’re eligible to join the credit union visit them here: crossroadscreditunion.com.

If you’re not able to join to can search for the best CD rates, savings account rates and mortgage rates today by searching our rate lists.

Author: Monica Harris
September 14th, 2011

Average CD rates at banks are low these days but you can find some banks offering CD rates higher than the national averages including Discover Bank. The bank is offering 1 year bank CD rates at 1.14% with a bank CD yield of 1.15%, well above the national average 12 month CD rate of 0.38%.

You can find the best CD rates at banks by searching our rate lists here: BEST CD RATES.

Discover Bank has seems to offer CD rates that are on the higher end of what is available. Discover Bank’s savings account rates are also better than most. The bank’s current online savings account rate is 1.09% with a savings yield of 1.10%. This rate is also well above the national average of 0.12%.

Discover Bank’s short term and long term certificates of deposit all have CD interest rates better than the averages and on the higher end of rates available. 3 month bank CD rates are currently at 0.50% with a CD yield of 0.50%. The current national average 3 month rate is at 0.16%.

Discover Bank has certificates of deposit terms ranging from 3 months to 10 years. The minimum deposit for a certificate of deposit at Discover Bank is $2,500.

Discover Bank CD rates

  • 3 Month CD Rates 0.50% APY 0.50%
  • 6 Month CD Rates 0.90% APY 0.90%
  • 9 Month CD Rates 1.00% APY 1.00%
  • 12 Month CD Rates 1.14% APY 1.15%
  • 18 Month CD Rates 1.24% APY 1.25%
  • 24 Month CD Rates 1.34% APY 1.35%
  • 30 Month CD Rates 1.44% APY 1.45%
  • 3 Year CD Rates 1.69% APY 1.70%
  • 4 Year CD Rates 1.78% APY 1.80%
  • 5 Year CD Rates 2.18% APY 2.20%
  • 7 Year CD Rates 2.42% APY 2.45%
  • 10 Year CD Rates 2.96% APY 3.00%

Discover Bank certificate of deposit accounts can be opened online in a few minutes here: Discover Bank CD Rates and CD Application. The CD accounts are insured by the FDIC for up to $250,000.

Discover Bank Early Withdrawal Penalties

  • CD term of less than one year – 3 months simple interest on the amount withdrawn.
    CD term of one year up to and including 5 years – 6 months simple interest on the amount withdrawn.
    CD term greater than 5 years – 9 months simple interest on the amount withdrawn.

Besides savings account rates and CD rates Discover Bank also has some of the highest IRA CD rates and money market account rates. The bank’s website is easy to navigate and very intuative making opening accounts easy. The bank’s website also has a section for financial tips and advice that offer information on CD laddering and other types of help. You can use a CD calculator to help you figure out your investment return.

Author: Monica Harris
September 13th, 2011

HIGHEST CD RATES: Current CD rates at Bank of Internet USA are not the highest CD rates around but the bank’s CD rates are well above the national average and competitive with other banks. 1 year certificates of deposit have a current rate of 1.00% with a yield of 1.00%. 1 year bank CD rates at Ally Bank are higher at 1.13% with a CD yield of 1.14%.

You can search and compare the best CD rates in your state by searching our rate lists here: BEST CD RATES. You can also find a list of the best savings account rates here: BEST SAVINGS ACCOUNT RATES. If you’re looking for a home loan you can compare rates from several direct lenders by using our mortgage rates list here: MORTGAGE RATES.

Back to Bank of Internet’s CD rates. Shorter term rates at B of I are low right now, in fact, 3 month rates at 0.15% are not much higher than 3 month U.S. Treasury yields. Discover Bank CD rates on 3 month certificates of deposit are at 0.50%, more than 3 times B of I’s 3 month rate.

Longer term certificates of deposit are more competitive at B of I. Current 5 year CD rates are at 2.10% with a yield of 2.12%. That rate is on the higher end of 5 year CD rates right now. Below is a list of current CD interest rates as of 9/12/11.

Term APY Rate
3 month 0.150% 0.150%
6 month 0.810% 0.810%
12 month 1.000% 1.000%
24 month 1.180% 1.170%
36 month 1.540% 1.530%
48 month 1.780% 1.770%
60 month 2.120% 2.100%

B of I is an Internet bank based in San Diego, California. The bank says they are able to offer higher CD rates since they don’t have the overhead of a brick and mortar bank. Opening a certificate of deposit account is quick and can be online in a few minutes. You can open an account here: B of I CD Application.

Author: James Martin
September 12th, 2011

RATES CD: Veritas Federal Credit Union based in Franklin, Tennessee which branch locations in Smyrna, Tennessee and Canton, Mississippi, is advertising some of the highest certificate rates available right now on a special 15 month certificate. Veritas Federal Credit Union’s other certificate rates are competitive with most other share certificate rates right now but you probably can find higher CD rates at banks.

Veritas Federal Credit Union’s advertising a special share rate on 15 month certificates. Special CD rates are currently at 1.28% with a special CD yield of 1.29%. That rate is slightly higher than most 1 year bank CD rates right now and current savings rates.

12 month share certificate rates are currently advertised at .060% with a CD yield of 0.60%. The best CD rates right now on 12 month certificates of deposit are around 1.15%.

Veritas Federal Credit Union Share CD Rates

60 Month APY 2.25%
36 Month APY 1.50%
24 Month APY 1.00%
18 Month APY 0.70%
12 Month APY 0.60%
6 Months APY 0.30%

As you can see the longer term share certificates offer better rates when compared to other similar term CD rates at banks. To open a certificate account at Veritas FCU you have to join the credit union. You can find out the eligibility requirements for joining at the credit unions website here: nissanfcu.org.

Author: Monica Harris
September 10th, 2011

Bank CD rates at Washington Federal Bank for Savings are not that competitive on the bank’s regular certificates of deposit. Washington Federal Bank for Savings does offer one CD that has one of the best CD rates for the term. Current 9 month CD interest rates are being offered at 1.15% with a CD yield of 1.15%. That CD rate is higher than the top rate on our list offered by Ally Bank for a 12 month CD.

Washington Federal Bank for Savings rate also tops the average 1, 2 and 3 year CD rates at banks available right now. 12 month rates at the bank are only being offered at 0.35%, which about matches the national average 12 month rate.

Below is a complete list of Washington Federal Bank for Savings CD rates:

91 Day Rate 0.10% Yield 0.10%
6 Month Rate 0.30% Yield 0.30%
9 Month Rate 1.15% Yield 1.15%
12 Month Rate 0.35% Yield 0.35%
18 Month Rate 0.40% Yield 0.40%
24 Month Rate 0.50% Yield 0.50%
30 Month Rate 0.60% Yield 0.60%
36 Month Rate 0.75% Yield 0.75%
48 Month Rate 1.39% Yield 1.40%
60 Month Rate 1.49% Yield 1.50%

As you can see the only really good CD rates are on the bank’s 9 month CD. You can find 12 month rates higher than the bank’s 36 month rate of 0.75%.

The bank’s savings account rates are competitive with other banks. The current savings account rates are at 1.00% with a savings account yield of 1.00%. The bank’s mortgage rates are also competitive, current 10 year mortgage rates are offered at 4.30%.

You can find out more about Washington Federal Bank for Savings and view a current list of interest rates at wafedbank.com.

Author: Monica Harris
September 9th, 2011

HIGHEST CD RATES: CD rates are very low these days but with a little work you can find the highest CD rates in your area. We searched online and found a small bank in Pell City, Alabama, is advertising one of the best CD rates for a 3 month certificate of deposit.

The current 3 month CD rate is 1.00% with a CD yield of 1.00%. You’ll have a hard time finding 3 month CD rates better than that rate. The current national average 3 month CD rate on MonitorBankRates.com is averaging 0.21%. The FDIC national average is even less at 0.16%.

Other banks offering 3 month CD rates higher than most rates available include Fort Lee Federal Savings Bank of Fort Lee, New Jersey, which is offering 3 month rates and yields at 0.75%.

Most of the time you can get the highest CD rates from small banks or credit unions. Sometimes big national banks offer really good rate deals but that isn’t the case these days.

RatesORama also has lists of the highest savings account rates and the best mortgage rates. Right now the best savings rates are around 1.00% and current mortgage rates on 30 year home loans are around 4.25%.

Author: James Martin
September 8th, 2011

BEST CD RATES:  With all the financial turmoil these days the stock market is a scary place to invest right now. In the long run investing in stocks will garner a higher rate of return. Right now you might want to think about selling some equity holdings and parking the cash into a certificate of deposit.

Granted bank CD rates along with other deposit account rates like savings account rates and money market account rates are paltry. If you’re looking for a home loan mortgage rates are also very low right now. The reason why is the economy is slow and inflation is low. Just make sure when you factor in your tax rate and the inflation rate that your CD investment is actually staying ahead of inflation.

Here is an example, say 1 year CD rates are at 1.50% right now and you are in a 20 percent tax bracket. Your actual return on investment will be 1.20% after taxes. If inflation is higher than 1.20% you’re losing purchasing power on your money. Granted your CD investment is safe and you won’t actually lose any principal as long as your deposit amount is $250,000 or less.

So there are advantages of preserving your capital but having money stashed in a certificate of deposit, savings account or money market account. As you get older and have your investments are in less risky assets you really don’t have a choice but to invest in deposit accounts.

Eventually interest rates will bounce off these record lows but right now the highest CD rates on 1 year CDs are about 1.20% and the best savings account rates are also around 1.20%.

You can find the highest CD rates by searching our rate lists and reading reviews here: Highest CD Rates.

Author: James Martin
September 7th, 2011

First Peoples Community Federal Credit Union based in Lavale, Maryland, is advertising some of the highest share certificate rates available in Maryland. In fact, First Peoples Community FCU’s share rates are also higher than some of the highest CD rates available from Maryland banks.

First Peoples Community FCU’s current 1 year share certificate rate is 1.35% with a share certificate yield of 1.36%. You probably won’t find 1 year share rates and CD rates higher than First Peoples Community FCU’s rate.

As with any credit union you have to join First Peoples Community FCU to open a certificate account. Information on the membership requirements can be found on the credit union’s website here: firstpeoples.com.

If you’re not eligable to join this credit union you still can find some of the best CD rates available right now by searching for CD rates here: BEST CD RATES.

Rates at First Peoples Community Federal Credit Union

91 days
6 Months
12 Months
18 Months
24 Months
36 Months
48 Months
48 Months (step-up)
60 Months
0.50%
1.00%
1.35%
1.45%
1.60%
1.85%
2.15%
2.15%
2.35%
0.499%
0.995%
1.341%
1.440%
1.587%
1.833%
2.127%
2.127%
2.323%

CD interest rates change all the time, for a more current list of rates visit the credit union here: First Peoples Community FCU Rates.

Author: Monica Harris
September 6th, 2011

Saint Joseph’s Hospital Federal Credit Union based in Tampa, Florida, is advertising some of the highest share rates available from any credit union in Tampa. In fact, Saint Joseph’s Hospital Federal Credit Union’s share rates are among the best CD rates available from any bank in Tampa.

Saint Joseph’s Hospital Federal Credit Union’s current 12 month share certificate rate is at 1.14% with a share certificate yield of 1.15%. That rate is almost three times the current national average rate of 0.41% for a 12 month certificate of deposit. Ally Bank CD rates on 12 month certificates of deposit are also at 1.14% with bank CD yields at 1.15%.

As with any credit union you’ll have to join Saint Joseph’s Hospital Federal Credit Union to open a share certificate account. Information about joining can be found on the credit union’s website: Saint Joseph’s Hospital Federal Credit Union Membership Info.

If you’re unable to join the credit union you can search for the highest CD rates at banks and credit unions here: CD RATES. If you’re eligible take a look at the credit union’s current rates as of 9/1/11.

Saint Joseph’s Hospital Federal Credit Union Share Rates: Best CD Rates

SIX MONTH Rate 0.79% Yield 0.80%
ONE YEAR Rate 1.14% Yield 1.15%
TWO YEAR Rate 1.39% Yield 1.40%
THREE YEAR Rate 1.78% Yield 1.80%
FOUR YEAR Rate 2.03% Yield 2.05%
FIVE YEAR Rate 2.47% Yield 2.50%

The minimum opening deposit for a share certificate account at the credit union is $1,000. Dividends are compounded monthly and credited to your certificate account monthly. Certificates are insured by the NCUA for up to $250,000.

Author: Monica Harris
September 2nd, 2011

Better CD rates than average can be found at a credit union based in Decatur, Illinois. ADM Credit Union is the local credit union that is offering share certificate rates that are some of the best share rates or best CD rates available right now in Decatur.

If you don’t live, work or worship in Decatur and are not eligable to join ADM Credit Union you can find a list of the highest CD rates by seraching locally in your town here: HIGHEST CD RATES.

If you’re eligable to joing ADM Credit Union take a look at these rates. Current 3 month share certificate rates are at 0.49% with a share certificate yield of 0.50%. That rate is higher than the FDIC’s current national average rate of 0.41% on 1 year bank CD Rates.

Other interest rates at ADM Credit Union include 6 month share certificate rates at 0.74% with a share certificate yield of 0.75%. That rate also beats most 12 month CD rates at banks these days.

ADM Credit Union Better CD Rates

Share Certificate 3 Month 0.49% 0.50%
Share Certificate 6 Months 0.74% 0.75%
Share Cert 12 Months 0.74% 0.75%
Share Certificate 18 Months 0.95% 1.00%
Share Cert 24 Months 1.19% 1.20%
Share cert 36 Months 1.49% 1.50%
Certificate 48 Months 1.88% 1.90%

For a current list of CD interest rates at ADM Credit Union and information about joining the credit union go to admcu.com.

Author: Robert Till
August 31st, 2011

The best CD rates on 12 month certificates of deposit are not as high as they were a couple of years ago. In fact, the current National Average 12 month CD rates at banks is only at 0.41% according to the FDIC.

August 30, 2011 Best Bank CD Rates

Of course you can find CD rates higher than the national average rate. For example, Ally Bank CD rates on 12 month certificates of deposit are currently at 1.14% with a bank CD yield of 1.15%. Ally Bank’s CD rate is almost three times the national average.

Discover Bank, the banking arm of the credit card company, Discover Financial, is also offering 1 year CD interest rates at 1.14% with CD interest yields at 1.15%. Both Discover and Ally slightly lowered CD rates on 12 month certificates of deposit this past month.

You can search and compare the highest CD rates at banks and credit unions by serching our rate list and reading our CD rates reviews.

Author: James Martin
August 30th, 2011

If you have a certificate of deposit that is maturing soon, especially a long term CD, you’re going to be in for a shock when you see how low CD rates are right now.In fact, you should start searching for the best CD rates right now and invest in shorter term CDs since rates are going higher in 2012.

Stay On Top of CD Maturity Due Dates Since CD Rates are Low: Most of the time when you invest in a certificates of deposit you don’t think about the investment much, you know what the CD rate is and how long you’re going to earn the rate (CD term). You don’t have to check your statement every month like you should when investing in stocks or mutual funds.

The only time CD investors have to make a decision is when a CD matures, that is if you’re planning on investing in another CD. If you have a long term CD that is maturing you probably have been enjoying a CD interest rate of 5.00% or more. These days you’re lucky to find long term CD rates ( 5 Year) at 2.50%. In fact, the best CD rates on 5 year CDs are around 2.50%. That being said you shouldn’t let your bank or credit union roll your long term CD into another long term CD.

Some banks and credit unions have inverted CD rates, shorter term CD rates are higher than longer term CD rates. So you should invest in a short term CD and enjoy higher CD rates that are coming in 2012.

Automatic CD renewal is convenient when bank CD rates are going higher but not when interest rates are going low and going lower. CD rates are near record lows since the Federal Reserve has kept interest rates low. CD rates are also a good alternative to Treasuries since rates on CDs are higher than Treasury yields right now.

If you have a CD maturing there is a period of time, usually a week, when the bank or credit union will notify you about the CD maturing. During this time you have a chance to act and roll into a new short term CD or withdrawal your money. If you don’t act the financial instituion will roll your money into a CD with the same term you currently have.

Author: Stacy Everest
August 28th, 2011

First State Bank of Shelby of Shelby, Montana, is currently offering some of the highest bank CD rates available from any bank or credit union in Montana. In fact the bank’s 1 year CD rates are also some of the best CD rates available for 1 year certificates of deposit in the nation. Current 1 year CD rates are at 1.30% with a CD yield of 1.31%.

Search and compare bank CD rates from several banks here: CD RATES AT BANKS.

First State Bank of Shelby is also advertising higher CD rates on their jumbo certificates of deposit. Current 12 month jumbo CD rates are at 1.34% with jumbo CD yields at 1.35%.

The bank’s shortest term certificate of deposit rates are also very competitive. 32 day to 61 day CD rates are currently available at 0.40% with a CD yield of 0.40%. 30 day jumbo CD interest rates are higher at 0.50% with a yield of 0.50%. Regular savings account rates at the bank are also at 0.40% with a yield of 0.40%.

First State Bank of Shelby Bank CD Rates

Minimum Balance Type Interest Rate APY Yield to Maturity
$500.00 32/61 Days 0.4000 0.4000  
$500.00 91 Days 0.7000 0.7000  
$500.00 182 Days 1.0500 1.0500  
$500.00 12 Months 1.3000 1.3100 1.3100
$500.00 18 Months 1.3500 1.3600 1.3600
$500.00 24 Months 1.5500 1.5500 1.5600
$500.00 30 Months 1.6000 1.6100 1.6100
$500.00 36 Months 1.7000 1.7100 1.7100

Jumbo CD Rates

Minimum Balance Type Interest Rate APY
$100,000.00 30 Days 0.5000 0.5000
$100,000.00 60 Days 0.5500 0.5500
$100,000.00 91 Days 0.8000 0.8000
$100,000.00 182 Days 1.1500 1.1500
$100,000.00 12 Months 1.3500 1.3500

For a list of current CD interest rates at First State Bank of Shelby go to fsbshelby.com.

Author: Robert Till
August 25th, 2011

Continuing the never ending downtrend of lower CD rates Ally Bank lowered the interest rates they pay on some of their certificates of deposit. Ally Bank isn’t the only bank to lower their rates recently, Discover Bank also lowered some of their bank CD rates.

Ally Bank’s used to offer 12 month CD rates at 1.18% with a bank CD yield of 1.19%. Ally Bank’s 12 month CD interest rates are now at 1.14% with a CD interest yield of 1.15%. Discover Bank CD rates on 1 year certificates of deposit were lowered to 1.14% with a CD yield of 1.15%.

Find the best CD rates at banks by searching our CD rates list here: BEST CD RATES AT BANKS.

Even though deposit rates were lowered at these two banks they still offer some of the top CD rates available right now. If you compare their 1 year rates vs. the FDIC national average their rates low the averages right out of the water.

This past week’s Weekly National Rates and Rate Caps report released by the FDIC had 1 year CD rates at 0.41% and 1 year jumbo CD rates at 0.43%. Discover and Ally have rates almost 3 times the average.

Author: Stacy Everest
August 24th, 2011

Most risk averse investors either invest in certificates of deposit or U.S. Treasuries. Unfortunately CD rates and Treasury yields have plummeted over the past several years. In fact, average bank CD rates and Treasury yields hit record lows this past month thanks to a lagging economy, government debt problems in Europe and tanking equity markets.

Just recently the Fed also announced it will keep interest rates at record low levels of zero percent until 2013. All these factors will keep CD rates and Treasury yields low as well.

Comparing current Treasury yields and CD interest rates you’ll find certificates of deposit offer a higher return than bonds. Right now you can find 1 year CD rates at banks as high as 1.19%. Ally Bank’s 1 year bank CD rates are paying that rate. Equivalent 1 year bond yields are 0.09%.

Granted in bond prices increase your return is juiced but it is hard to image bond prices increasing and bond yields decreasing right now since yields are already so low.

Find a list of the best CD rates at banks right here: CD RATES AT BANKS.

Author: Monica Harris
August 23rd, 2011
E-Loan.com which raised the rate the bank is paying on 12 month CD rates significantly early this summer is still offering one of the highest CD rates available on a 12 month certificate of deposit.
E-Loan CD rates on 12 month certificates of deposit are at 1.25% with a CD yield of 1.26%. That rate is higher than Ally Bank’s 12 month CD rates of 1.18% with a CD yield of 1.19%.
 
Find today’s CD rates by searching for CD rates here: Best CD Rates.  You can also find a list of current savings account rates by searching our savings rates list here: Savings Account Rates.

CD Rates at E-Loan.com

1 Month Rate 0.15% Yield 0.15%
2 Month Rate 0.20% Yield 0.20%
3 Month Rate 0.25% Yield 0.25%
6 Month Rate 0.40% Yield 0.40%
9 Month Rate 0.80% Yield 0.80%
1 Year Rate 1.25% Yield 1.26%
18 Month Rate 0.95% Yield 0.95%
2 Year Rate 1.00% Yield 1.00%
3 Year Rate 1.14% Yield 1.15%
4 Year Rate 1.34% Yield 1.35%
5 Year Rate 1.59% Yield 1.60%
6 Year Rate 1.69% Yield 1.70%
Other bank CD rates at e-loan.com have been lowered since we last reported on their rates back in June. For a list of current CD interest rates visit e-loan.com.
Author: James Martin
August 22nd, 2011

McPherson Co-op Credit Union’s share certificate rates are very competitive, in fact the credit unions interest rates are better than most other credit union share rates and bank CD rates. McPherson Co-op Credit Union’s 12 month share rates on account balances of less than $10,000 is at 1.25% with a share dividend yield of 1.25%.

12 month interest rates on account balances of $10,000 or more earn a rate of 1.50% and yield of 1.51%. You’ll have a heard time finding share rates or CD rates higher than that rate.

Find the highest CD rates at banks by searching our rate list here: HIGHEST CD RATES.

McPherson Co-op Credit Union’s 6 month share interest rates are at 1.00% with a CD yield of 1.00 for account balances of less than $10,000. 6 month rates on account balances of more than $10,000 are at 1.25% with a yield of 1.26%.

CD Share Dividend Rates at McPherson Co-op Credit Union

Balances of $10,000 or more:

6 month Rate 1.25% Yield 1.257%
12 month Rate 1.50% Yield 1.510%
24 month Rate 1.75% Yield 1.764%
48 month Rate 2.35% Yield 2.375%

CD Balances less than $10,000:

6 month Rate 1.00% Yield 1.004%
12 month Rate 1.25% Yield 1.257%
24 month Rate 1.50% Yield 1.51%
48 month Rate 2.10% Yield 2.12%

For a current list of dividend rates at McPherson Co-op Credit Union go to mcphersoncoopcu.com. For a current list of bank CD interest rates and credit union share rates from many different financial institutions go to RatesORama.com.

You can also find a list of the best savings account rates by searching our savings rates list and current mortgage rates by searching our mortgage rates list.

Author: James Martin
August 21st, 2011
The banking division of the student loan company Sallie Mae is still offering some of the best CD rates available right now. Sallie Mae Bank is advertising bank CD rates in terms of only 12 months, 36 months and 60 months. Of course the bank’s highest CD rates are on 60 month certificates of deposit.
5 year CD interest rates are currently at 2.07% with a CD interest yield of 2.09%. While that rate isn’t the highest CD rate available on a 60 month certificate of deposit that rate does beat most rates.
Find the best CD rates at banks by searching here: CD Rates at Banks.

Sallie Mae Bank’s 12 month CD rates are currently advertised at 1.19% with a CD yield of 1.20%. That rate is sightly higher than 12 month CD rates at Ally Bank which are currently at 1.18% with a CD yield of 1.19%. Sallie Mae Bank CD rates are lower since we first reported on their rates a year ago. Just over a year ago 12 month CD rates were at 1.54% with yields at 1.55%.

36 month bank CD rates at Sallie Mae are advertised at 1.29% with a bank CD yield of 1.30%. Sallie Mae Bank’s best CD rate deal is on their 12 month certificate of deposit so you’re better off investing in the 12 month term.

Certificate of Deposit Account Information and Benefits

  • CD Interest is compounded daily and credited to the account monthly.
  • Early withdrawal penalties are 3 months of simple interest for certificate of deposit accounts 12 months or less.
  • Early withdrawal penalties for certificate of deposit accounts greater than 12 months are 6 months simple interest.
  • Certificate of deposit accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000.
  • Sallie Mae’s FDIC Cert number is 58177.
  • No hidden charges
  • No minimum balance and no monthly fees
Author: Robert Till
August 20th, 2011

Peoples Bank & Trust Company is offering one of the highest CD rates available right now for a 3 month certificate of deposit. Peoples Bank & Trust Company of Pickett County is offering 3 month bank CD rates at 1.05% with bank CD yields at 1.05%. That rate has to be the best 3 month CD rates at banks available anywhere.

Find a list of the best CD rates from many different banks here: Best CD Rates.

Most 12 month certificate of deposit rates aren’t as high as Peoples Bank & Trust Company’s 3 month rate. For example, 3 month CD rates at Ally Bank are at 0.44% with CD yields at 0.44%. Another national bank also has 3 month rates below Peoples Bank & Trust Company’s rate. Discover Bank CD rates on 3 month certificates of deposit are at 0.50% with a yield of 0.50%.

6 month CD interest rates at Peoples Bank & Trust Company are also some of the top CD rates available for a 6 month certificate of deposit. The current 6 month CD rate is 1.34% with bank CD yields at 1.35%. Again, one of the best CD rates available from any bank or credit union.

Author: Stacy Everest
August 18th, 2011

Velocity Credit Union of Austin, Texas, is advertising several different types of certificates. The highest CD rates are on the Velocity Credit Union’s 5 year Inflation Fighter certificate and their Individual Retirement Account (IRA) certificate. Current CD rates on both accounts is 2.59% with CD yields at 2.62%.

Find a list of CD rates at banks by searching our bank CD rates list here: Best CD Rates.

Velocity Credit Union other share certificate rates are not as competitive as their 5 year rates. For example, 1 year CD interest rates are at 0.90% with CD interest yields at 0.90%.

The credit union is also advertising mini-jumbo CD rates. Current 9 month mini-jumbo CD rates are available at 0.70% with a jumbo CD yield of 0.70%. The minimum opening deposit for a mini-jumbo certificate is only $20,000.

Share Certificate Rates from Velocity Credit Union

Mini-Jumbo 91 Days Yield 0.40%
Mini-Jumbo 6 months Yield 0.70%
Mini-Jumbo 9 months Yield 0.70%
Short Term Certificate 91 Days Yield 0.30%
Short Term Certificate 182 Days Yield 0.60%
Short Term Certificate 9 months Yield 0.60%
1 Year Inflation Fighter 1 year and over Yield 0.90%
18 Month Inflation Fighter 18 months and over Yield 0.90%
2 Year Inflation Fighter 2 years and over Yield 1.31%
30 Month Inflation Fighter 30 months and over Yield 1.31%
3 Year Inflation Fighter 3 years and over Yield 1.91%
4 Year Inflation Fighter 4 years and over Yield 2.02%
5 Year Inflation Fighter 5 years Yield 2.62%
2 Year Small Savers Certificate 2 years Yield 1.00%
1 Year IRA Certificate 1 year and over Yield 0.90%
2 Year IRA Certificate 2 years and over Yield 1.31%
3 Year IRA Certificate 3 years and over Yield 1.91%
4 Year IRA Certificate 4 years and over Yield 2.02%
5 Year IRA Certificate 5 years Yield 2.62%

For a current list of Velocity Credit Union share certificate rates go to velocitycu.com. For a list of current bank CD rates from several different banks use our rate list at RatesORama.com.

 

Author: Monica Harris
August 17th, 2011

Best 2 Year CD Rates at 1.39%

Highest CD Rates: The best CD rates at banks right now for 2 year certificates of deposits available in all states is from Discover Bank. 2 year bank CD rates at Discover Bank are currently at 1.39% with a bank CD yield of 1.40%.

You can find the best CD rates at banks right here: Best CD Rates.

2 Year CD rates at Ally Bank are currently available at 1.36% with a bank CD yield of 1.37%. The rate from Ally Bank is on their 2 year Raise Your Rate CD which allows you to raise the CD interest rate once during the term if CD rates raise. Ally Bank is also offering 18 month CD rates at 1.34% with a yield of 1.35% and savings account rates at 1.00% with a yield of 1.00%.

Two more banks offering some of the top CD rates on 2 year certificates of deposit include First Internet Bank of Indiana and Nationwide Bank. CD rates at banks for 2 year CDs are currently at 1.34% with CD yields at 1.35%.  

Other national banks offering certificate of deposit rates that are higher than most include Sallie Mae Bank. The bank is offering 1 year CD rates at 1.19% with a CD yield of 1.20%.

AIG Bank, the banking arm of the insurance giant AIG, is offering 24 month certificate of deposit rates at 1.33% with a bank CD yield of 1.34%. All the CD rates listed above are on FDIC insured banks.

Author: Monica Harris
August 12th, 2011

Best CD Rates: The highest CD rates at banks right now for 12 month certificates of deposit available nationally are at 1.25%. E-loan.com is offering 1 year bank CD rates at 1.25% with a bank CD yield of 1.26%.

You can find the highest CD rates at banks right here: Highest CD Rates.

Discover Bank is right behind E-loan.com offering 1 year CD rates at 1.19% with CD yields at 1.20%. Right behind Discover Bank is Ally Bank. Ally Bank CD rateson 1 year CDs is at 1.18% with a CD yield of 1.19%.

Other national banks offering certificate of deposit rates that are higher than most include Sallie Mae Bank. The bank is offering 1 year CD rates at 1.19% with a CD yield of 1.20%.

Don’t expect CD interest rates to increase anytime soon. The Fed just announced they are keeping the Fed funds rate at an exceptionally low rate of zero percent to 2013.

Author: James Martin
August 11th, 2011

These are turbulent times, the stock markets are tumbling, gold is hitting record highs and Treasury yields are plummeting what are investors doing? Running for the exit and placing their money into good old bank accounts paying next to nothing. At least CD rates and savings account rates are better than short term Treasury yields.

Right now one of the best CD rates is from Ally Bank. Ally Bank CD rates on 12 month certificate of deposits are currently at 1.19% with a bank CD yield of 1.20%. 12 month Treasury yields are much lower at 0.12% right now.

If you’re looking for shorter term CD rates at banks some of the highest CD rates on 3 month certificates of deposit are a lot higher than 3 month Treasury yields. Discover Bank CD rates on 3 month certificates of deposit are at 0.50%. 3 month Treasury yields are one tenth of that rate at 0.05%.

You can search our bank CD rates list or savings account rates list for the best interest rates. If you’re searching for mortgage rates you can search our mortgage rates today list for rates from several lenders.

Interest rates will continue to be very low for the rest of 2011 and possibly into 2012 if the economy falls into another recession.

Author: James Martin
August 9th, 2011

Bank 1440, which derives its name from the number of minutes in a day, is advertising competitive CD rates. Bank 1440’s best CD rate deal is on their 24 month and 36 month certificates of deposit. Both these certificates of deposit are “add on certificates of deposit” which allow you to add additional deposits every month.

Find the highest CD rates by searching our rate list here: Highest CD Rates.

Current 2 year bank CD rates are at 1.49% with a bank CD yield of 1.50%. That CD interest rate is considerably higher than the national average 2 year CD rate of 0.70% as reported by the FDIC.

3 year certificate of deposit rates are currently at 1.74% with a CD yield of 1.75%. Again, Bank 1440’s rate is considerably higher than the FDIC national average 3 year CD rate of 0.98%.

Other CD rates at Bank 1440 include 18 month CD rates at 1.00%, 12 month CD rates at 0.75%, 6 month rates at 0.50% and 3 month rates at 0.25%. These rates are also better than the national averages but you can find higher CD rates at banks.

Bank 1440’s motto is “There for you 1440… all the minutes of the day”.

Author: Stacy Everest
August 3rd, 2011

The debt deal that was hammered and a slowing economy will keep CD rates and savings account rates low for the foreseeable future. This isn’t good news for depositors looking to earn a decent rate on their deposits but if you’re a borrower of money the news is positive. Just as CD rates will remain low mortgage rates and other loan rates will remain low for the rest of 2011.

When President Obama signed the debt deal yesterday 10 year bond yields plunged 10 basis points to 2.62%. 10 year bond yields hit a low for 2011 yesterday and are down over 100 basis points from the high of 3.72% on February 8.

The FDIC’s Weekly National Rates for August 1, had 12 month CD rates averaging 0.44%. You can find some of the highest CD rates on 12 month certificates of deposit around 1.20%. CD rates on jumbo deposits of $100,000 or more are slightly higher at 0.46%. Savings account rates are even lower at 0.14% for both regular savings rates and jumbo savings rates.

RatesORama.com can help you find the best interest rates during this period of low interest rates. Just search our category sections for the best CD rates, savings rates or mortgage rates.

Author: Monica Harris
August 3rd, 2011

Linn Area Credit Union based in Cedar Rapids, Iowa, is advertising some of the best CD rates including a Special CD rate of 1.84% with a CD yield of 1.85%. Linn Area Credit Union’s Special 15 month CD rate is higher than most 36 month CD rates at banks and credit unions.

Find the highest CD rates in your area by searching our CD rates list here: CD Rates List.

Other certificate of deposit rates at Linn Area Credit Union include their 3 month CD rate at 0.499% with a CD yield of 0.50%. Linn Area Credit Union’s 3 month rate is better than most 6 month CD rates right now including CD rates at Ally Bank.

Linn Area Credit Union’s longest term certificate, their 60 month certificate, also is one of the best CD rates currently available. 6o month share certificate rates are 2.967% with a yield of 3.00%. Most bank CD rates on 60 month certificates of deposit top out at 2.75% right now.

CD Rates Linn Area Credit Union

3 Month Rate 0.50% Yield 0.50%
6 Month Rate 0.70% Yield 0.70%
12 Month Rate 1.20% Yield 1.20%
18 Month Rate 1.49% Yield 1.50%
36 Month Rate 2.18% Yield 2.20%
60 Month Rate 2.97% Yield 3.00%

As with any credit union you will have to join Linn Area Credit Union to open a share certificate. Information about joining and a list of current CD rates can be found at linnareacu.org.

Author: James Martin
August 3rd, 2011

Gouverneur Savings & Loan Association of Gouverneur, New York, is advertising some of the highest CD rates currently available. Gouverneur Savings & Loan Association’s shortest term certificate of deposit is the best CD rate deal right now. Current 6 month savings CD rates are at 0.99% with a savings CD yield of 1.00%. Gouverneur Savings & Loan Association’s rate is slightly higher than Ally Bank’s CD rates on 6 month certificates of deposit.

You can find the best CD rates at banks and credit unions here: Best CD Rates.

12 month, 15 month and 24 month certificates of deposit at Gouverneur Savings & Loan Association also have a CD rate of 0.99% with a CD yield of 1.00%. Considering interest rates will be going higher in the coming year you are better off staying with the 6 month CD that earns the same rate and yield.

Other certificate of deposit rates at the savings and loan include their 36 month CD rate of 1.49% with a CD yield of 1.50%. 48 month CD rates are currently at 1.73% with a CD yield of 1.75%.

Author: James Martin
August 3rd, 2011

CD rates and other deposit rates will remain low for the rest of 2011 and into 2012. The economic pickup that the Federal Reserve and economists were expecting might not happen. 2nd quarter GDP is expected to be at 1.9% is as low as 1st quarter GDP was.

Find a list of the best CD bank rates here: CD Bank Rates. Get a list of the highest savings account rates here: Savings Account Rates.

The second half of 2011 isn’t going to be much better. As a result bank CD rates and savings account rates won’t go much higher. The current average 1 year CD rate is at 0.44% and the average 1 year jumbo CD rate is at 0.46% in the most recent Weekly National Rates and Rate Caps released by Federal Deposit Insurance Corporation.

You can find CD rates at banks higher than the averages. Right now Ally Bank’s CD rates on 1 year certificates of deposit are at 1.18% with a bank CD yield of 1.19%.

Shorter term CD rates aren’t fairing much better, 1 month CD rates are averaging 0.12% and 1 month jumbo CD rates are averaging 0.13%. Of course you can also find 1 month CD interest rates better than the averages.

National Average CD Rates

1 month CD Rates 0.12
3 month CD Rates 0.18
6 month CD Rates 0.28
12 month CD Rates 0.44
24 month CD Rates 0.70
36 month CD Rates 0.99
48 month CD Rates 1.22
60 month CD Rates 1.55

National Average Jumbo CD Rates

1 month CD Rates 0.13
3 month CD Rates 0.19
6 month CD Rates 0.30
12 month CD Rates 0.46
24 month CD Rates 0.72
36 month CD Rates 1.01
48 month CD Rates 1.25
60 month CD Rates 1.58

National average CD rates source: FDIC.

Author: Robert Till
July 28th, 2011

DOCO Regional Federal Credit Union is advertising one of the best best CD rates on 12 month certificates of deposit. DOCO Regional FCU’s current 12 month share certificate rates and IRA certificate rates are at 1.44% with a CD yield of 1.45%. You’ll have a hard time finding CD rates higher than that rate right now.

As with any credit union you’ll have to join DOCO Regional FCU to open a certificate. Membership is limited, you can view membership eligibility here: DOCO Regional FCU Membership Eligibility.

The credit union’s short term certificates also have some of the top CD rates available right now. 90 day rates are at 0.89% with a CD yield of 0.89%. 6 month CD interest rates are at 1.05% with a CD interest yield of 1.05%.

CD Rates at DOCO Regional FCU

90 Days (1-180 Days) Rate 0.89% Yield 0.89%
6 Months Rate 1.05% Yield 1.05%
12 Months Rate 1.44% Yield 1.45%
18 Months Rate 1.59% Yield 1.60%
24 Months Rate 1.59% Yield 1.60%
36 Months Rate 2.08% Yield 2.10%
60 Months Rate 2.37% Yield 2.40%

For a list of current rates go to docofcu.com.

Author: Stacy Everest
July 26th, 2011

Grand Bank, N.A, based in New Jersey, is advertising CD rates that are some of the highest CD rates available from any bank or credit union in New Jersey. CD rates on 6 month certificates of deposit are currently at 0.90% with a CD yield of 0.90%. The bank’s 6 month rate is better than most 12 month CD rates at banks.

Find a list of current CD rates by searching our rate lists here: Current CD Rates.

Grand Bank’s other certificates of deposit also have very competitive rates. 12 month rates are at 1.19% with a CD yield of 1.20%. Ally Bank CD rates on 12 month CDs are also at 1.19% with a CD yield of 1.20%.

Grand Bank’s 5 year CD rates are higher than most 5 year rates available. Current 60 month CD rates are going for 2.76% with a CD yield of 2.80%.

The bank is also advertising a 20 month IRA CD that has a current rate of 1.34% with a CD yield of 1.35%.

CD Rates from Grand Bank, N.A.

  • 6 Month Rate 0.90% Yield 0.90%
  • 12 Month Rate 1.19% Yield 1.20%
  • 15 Month Rate 1.21% Yield 1.22%
  • 18 Month Rate 1.24% Yield 1.25%
  •  24 Month Rate 1.73% Yield 1.75%
  • 36 Month Rate 1.98% Yield 2.00%
  • 48 Month Rate 2.08% Yield 2.10%
  • 60 Month Rate 2.76% Yield 2.80%

Bank CD rates change all the time. For a current list of Grand Bank’s rates go to grandbk.com.

Author: Stacy Everest
July 22nd, 2011

Another bank just raised the interest rate on 12 month certificates of deposit. Bank of Internet USA raised interest rates from 1.20% (APY 1.21%) to 1.26% (APY 1.27%). 

Last month E-loan.com almost doubled their 12 month rate to 1.25% (APY 1.26%). In the late spring, Bank of Internet lowered their 12 month rate from 1.40% (APY 1.41%) to 1.20% (APY 1.21%) so the recent increase is probably to top E-loan’s new rate.

Bank of Internet’s other certificate of deposit rates are competitive but not as good of a deal as their 12 month rate. For example, current 3 month CD rates at BofI are 0.35%, 3 month CD rates at Discover Bank are 0.50%.

You can view BofI’s other CD rates here: BofI CD Rates.

The minimum opening CD account balance is $1,000.

Opening a CD account at BofI is quick and painless. We opened an account using the online application which took about 5 minutes to complete. After getting approval we wired the funds into the new account which was also quick and easy.

BofI claims they can offer higher CD rates and most institutions since without the overhead of traditional banks, they are able to pass the savings to the customer in the form of better rates.

Author: Stacy Everest
July 8th, 2011

The National Association of Realtors®. reported pending home sales rose strongly in May, the strongest increase in a year. The Pending Home Sales Index  rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April. 

The strong increase is a positive sign for things to come. The index reflects contacts, not closings, so a strong number now will lead to higher housing activity in the second half of the year.

Another positive sign is all regions of the country experienced gains, pending home sales in prior months was sporadic only some regions of the country experienced gains while other regions posted negative numbers.

The large increase in home sales is a surprise since banks have tightened lending standards since the housing bubble. Most banks are requiring a 20% down payment on purchase or 20% equity to refinance.

If banks relaxed lending standards I believe the housing depression would come to a quick end since there is so much pent-updemand for homes. Combine normal ending standards with low mortgage rates and we would see a healthy housing market again.

Watch Lawrence Yun, NAR chief economist, discuss the numbers:

Author: James Martin
July 1st, 2011

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

Current certificate of deposit rates are very low right now but when you factor in the rate of inflation the return isn’t a low as it seems. Right now the highest 12 month CD interest rates are around 1.25 percent which isn’t that high at all. The core rate of inflation is next to zero percent so your actual 1.25 percent return is almost the same because the low inflation rate.

Back in the early 1980s short term CD rates were as high as 13 percent but the rate of inflation was around 12 percent making your actual rate of return the same as today. This isn’t the case if you have more money to invest than you need spend to live. I won’t sugar coat it, you are losing out on interest income with these low rates.

As with any investment including investing in certificates of deposit as long as your returns are higher than the rate of inflation you will be in good shape in the long run. Deciding which investments to make to stay ahead of inflation is very investor’s dilemma.

Since bank CD rates and credit union CD rates are low right now you should invest only in short term certificates of deposit. That way you can take advantage of higher CD rates in the coming years so don’t lock your funds in a low rate long term CD right now.

Author: Monica Harris
April 29th, 2011

Certificate of deposit accounts (CDs) are time deposit accounts that can be opened at banks, saving thrifts, credit unions or brokerages. CDs typically offer higher CD rates than a savings account rates. You invest a fixed some of money for a fixed period of time, which can be from 30 days to 10 years. For the privilege of having your money the bank or credit union pays you an interest rate. This rate is referred to as a CD rate.

The longer the CD term, the better the CD rate you receive. The longest term CDs more than likely will have the best CD rates. When you have your money locked into a CD the financial institution borrowing the money from you can invest the money. Basically, borrowing at a lower rate from you and investing at a higher rate. This is how banks and credit unions make money.

If you invest in a 12 month CD your money is locked up for 12 months. You do have the option of cashing in your CD before the maturity date for a fee. This is referred to as an early withdrawal penalty. The penalty can be part of the interest earned or all of the interest earned depending on the CD term. 

Certificates of Deposit offer investors risk free investments that have their principal 100% guaranteed by the U.S. Government for up to $250,000.  Deposit accounts, including certificates of deposit, at most banks are insured by the Federal Deposit Insurance Corporation (FDIC). When investing in a bank CD make sure the bank has their deposits insured by the FDIC.

Deposit accounts, including share certificates, at Credit Unions are insured by the National Credit Union Administration (NCUA) for up to $250,000. Make sure to invest only in certificates of deposit that are offered by credit unions that belong to the NCUA.

There are many ways CD interest is earned and paid. A CD account can have interest paid monthly, quarterly, annually or at maturity. Interest earned on the account is usually paid daily giving the investor a higher annual percentage yield (APY) because interest is compounded. Compound interest is, interest already earned, earning interest.

There are many variations of CD accounts and CD investing has become more complicated over the past decade. There are fixed rate CDs, variable rate CDs, regular CDs, retirement account CDs,  jumbo CDs and many others, too many to list here.

Here is a list questions to ask when investing in CDs.

  • What is the maturity date of the CD account?
  • Can the CD  be called by the bank – basically the bank cancels the account?
  • Is the CD interest rate fixed or variable?
  • How is interest compounded?
  • What are the early withdrawal penalties?

Now that you have a good understating of what certificates of deposit are and how to invest in them you need to compare bank CD rates and credit union CD rates.

There are many financial institutions that offer certificate of deposit accounts. Make sure to shop around for the best CD rates at banks and best CD rates at credit unions before you invest your money.

Author: James Martin
April 29th, 2011

CD Laddering allows the investor to take advantage of rising rates, have all of their CD investments in longer term CDs and still have regular access to their money without incurring early withdrawal penalties.  

The longer the term of the certificate of deposit, the higher the CD rates usually are, unless the yield curve is inverted, which can happen if short term inflation is very high.

When investors ladder their certificate of deposit accounts the end result is they evenly spread out their CD deposits over a period of several years and have all of their money deposited in longer term CDs paying higher rates.

Laddering certificate of deposit accounts (CDs) is a strategy used usually when CD rates are going higher. Deposit rates usually rise when the economy is strong, inflation is a concern and the Federal Reserve raises interest rates to prevent the economy from over heating

Here is an example of a CD ladder. We will use three year terms with a total deposit amount of $300,000. 

Initially the investor deposits $100,000 in a 3 year CD, $100,000 in a 2 year CD and $100,000 in a 1 year CD.  After the first year, the 1 year CD matures, the investor then invests the money in a 3 year CD. After the second year, the 2 year CD matures, the CD investor invests in another 3 year CD. After three years all the investors money is in 3 year CDs which have better rates than 1 or 2 year CDs and funds will become available once a year instead of once every 3 years.

The alternative to laddering in this example is to put the $300,00 into a 3 year CD. Which means you will not have access to any of that money for the next 3 years.  Taking it out before the 3 year CD matures will result in loss of partial or all interest earned. You may also miss out on CD rates increasing during that 3 year period of time where as with a ladder you can open new 3 year CDs at higher rates.

There are CD calculators online you can use to help you figure out your return on investment by using a ladder.

Author: James Martin
April 28th, 2011

Affinity Plus Credit Union of St. Paul, Minnesota, has one of the best CD rates, if not the best CD rate, available from any credit union or bank. Affinity Plus Credit Union is offering their 12 month Wahoo certificate that has a current dividend rate of 1.98 percent with an annual percentage yield (APY) of 2.00 percent. I doubt you can find a 12 month CD rate higher than that rate.

Unfortunately there is a maximum deposit amount of $25,000. Even with the cap you’ll earn $500 of interest if you open a certificate with the max amount. Most other 12 month CD rates at banks and 12 month CD rates at credit unions are less than half Affinity Plus Credit Union’s rate.

The credit union is also offering the following regular certificates.

3 months 0.25% APY 0.25%
6 months 0.374% APY 0.375% 
12 months 0.80% APY 0.80%
24 Months 1.12% APY 1.125% 
*36 Months 1.79% APY 1.80%
*48 Months 1.982% APY 2.00%
*60 Months 2.47% APY 2.50%

*Available as IRA Certificates. IRA Certificate dividends must accrue on the certificate.

Interest rates change all the time, for a current list of the credit union’s rates visit the credit union’s website. Information about joining the credit union can be found here: Affinity Plus Credit Union Membership Application.

Author: James Martin
April 26th, 2011

This past week the credit rating agency, Standard & Poor’s, lowered their outlook on the United States’ long term credit rating from stable to negative. The reason why S&P decided to lower the county’s credit outlook is because politicians in the District of Columbia can’t decide on a budget. If policymakers’ can’t decide on the budget by cutting spending and raising taxes the interest rate the country pays on the debt it owes will go higher.

If our country pays more interest on it’s debt you can be sure we are going to pay more on our debt with higher interest rates. Higher mortgage rates, car loan rates, credit card rates everything. On the other side we will also enjoy higher deposit rates, like CD rates, savings rates and money market account rates.

Yes, the country has a credit rating just like we do; I bet you didn’t realize that. Just like when our credit rating is lowered the interest rate we pay for goes higher. Well the country works the same way. When the country’s credit rating is lowered, the country pays a higher interest rate. Unfortunately when you owe trillions of dollars the interest paid on debt amounts to billions of dollars annually.  

Since the financial crisis of 2008 and then the recession of 2009 we have had record low interest rates. This will change for a number of reasons, not only because the country’s credit outlook was downgraded to negative but also because a stronger economy will lead to higher inflation.

Higher inflation will force Federal Reserve to raise the Federal Funds Rate and the Discount Rate. When these rates go higher banks and financial institutions start raising rates on their financial products, including loans and deposit accounts.

How do you plan for a higher interest rate environment? Well for one thing if you’re thinking about buying a home and have been waiting to doing so, you should go ahead and buy. Why? Because mortgage rates are going higher. Right now you can find 30 year conforming mortgage rates at 5.00 percent. In a year or two 30 year rates will probably be 6.00 percent or even 7.00 percent.

If you don’t need a loan and earn some of your income from deposit accounts you’re in luck. Depositors have had to deal with record low interest rates for several years now. 1 year CD rates are .50 percent right now, not much of a rate to earn any interest. When the economy get stronger and interest rates start going higher you can expect to earn more money on your deposit accounts.

Although current 1 year CD rates at banks are around .50 percent and savings rates/money market account rates aren’t much better you should see rates start heading higher later in 2011. By the end of the year interest rates will go higher up but don’t expect any big jumps in rates.

By 2012 to 2013 1 year bank CD rates will be over 1.00 percent and probably closer to 2.00 percent. Savings rates and money market rates will be just has high. Beyond 2013 interest rates on intermediate deposit accounts should be around 2.00 percent to 3.00 percent.

Author: James Martin
April 23rd, 2011

Quaint Oak Bank, a small bank based in Southampton, Pennsylvania, has some of the very best CD rates available right now. You probably haven’t heard of Quaint Oak Bank but they have been around the Bucks County area for more than 80 years. The bank’s highest CD rates are on their 60 month regular and IRA certificates of deposit. The current 60 month rate is 2.63% with an APY of 2.70%. You’d be hard pressed to find CD rates at banks higher than that rate.

The better deals on CD rates at the bank are on their shorter term CDs. Relative to the CD term and rate 3 month bank CD rates are at 0.79% with an APY of 0.80%. A pretty good rate considering 3 month rates are averaging less than half.

12 month rates are also higher than the averages. Current 1 year rates at the bank are 1.08% with an APY of 1.10%. These rates are for both regular CDs and IRA CDs.

CD Rates Quaint Oak Bank

6 Months 0.79% 0.80%
12 Months 1.08% 1.10%
18 Months 1.13% 1.15%
24 Months 1.47% 1.50%
36 Months 1.86% 1.90%
48 Months 2.34% 2.40%
60 Months 2.63% 2.70%

The minimum opening deposit and minimum balance to earn interest on CD accounts is $500. You can contact the bank here for more information: Quaint Oak Bank Contact.

Author: James Martin
April 20th, 2011

These days getting the highest rates on deposit accounts like certificates of deposit or savings accounts can be done with very little effort. Considering how low interest rates are right now every hundredth of a percent counts you need to find the best rates! Certificates of deposit still offer you a risk-free investment, the down side to having absolutely no risk is your return is lower. Current 1 year CD rates are low as 0.25 percent and as higher as 1.30 percent.

There are banks and credit unions that offer higher rates than 1.30 percent on 12 month CDs but they usually require you either have a loan with the institution or some other kind of relationship.

For most retirees, trying to preserve capital with no risk investments while earning some kind of return on their investments, current rates are making it hard and harder to do so.

With rates so low right now it is more important than ever to get the highest return possible on your CD investment while preserving your capital. Of course getting the highest return requires finding the best CD rates at banks and credit unions.

Another option are brokered CDs but those have some risk to your principal if you need to liquidate your holdings before the CD term ends. Unlike a traditional certificate of deposit at a bank or a share certificate at a credit union where you’re interested earned is the only you can lose.

With a brokered CD if you need to liquidate the financial product you need to try and sell it in the market which means you can get less than you paid for it. In addition, brokered CD rates are lower than regular CD rates or jumbo CD rates.

Therefore, i recommend sticking with a time deposit product from a bank or a credit union. Finding the highest CD rates at banks and CD rates at credit unions can be done by using your search comparison tool. With this tool that ratesorama.com offers you can find the best rates. Investors like you can also contact us to get certificate of deposit information and a list of rates.

Author: Robert Till
April 17th, 2011

Credit Union of Atlanta has some very competitive certificate of deposit rates from any credit union. Credit Union of Atlanta’s 6 month share certificate has a rate of 1.00% and an APY of 1.03%. That rate beats most 12 month rates available today.

Speaking of 12 month CD rates, Credit Union of Atlanta’s 12 month share certificate rate is 1.50 percent with an APY of 1.53 percent. The credit union’s 18 month, 2 year and 30 month share certificates have the same rate and APY as the 12 month certificate.

CD Rates from CU of Atlanta

6 months 1.00% APY 1.03%
12 months 1.50% APY 1.53%
18 months 1.50% APY 1.53%
24 months 1.50% APY 1.53%
30 months 1.50% APY 1.53%
36 months 2.50% APY 2.52%
42 months 2.50% APY 2.52%
48 months 2.50% APY 2.52%
54 months 2.50% APY 2.52%
60 months 2.75% APY 2.78%

These rates are current as of February 10, 2011 on the credit union’s website. The rates are for both the credit union’s share rates and IRA certificate rates. The minimum opening deposit is $500.

You can contact the credit union here: Credit Union of Atlanta Contact.

Author: James Martin
April 15th, 2011

Doral Bank FSB is back with competitive CD rates. One of the best deals right now is on their 12 months certificate of deposit which has a current APY of 1.40%. The bank’s shorter term CD rates are defiently better deals right now than their longer term rates.

Changes are you haven’t head of Doral Bank Direct or even the parent company, Doral Financial Corporation(NYSE:DRL). Doral Bank Direct FSB has their main office in New York at 623 Fifth Ave.

The parent company is a diversified financial services company with operations in Puerto Rico, New York, Florida and Oregon. The online bank has deposits insured by the FDIC for the standard $250,000 per depositor. If you’re interested the bank’s FDIC Cert number is 34905. 

Some other very competitive rates at Doral include their 6 month CD rate of 0.75 percent with an APY of 0.75 percent. The bank’s 9 months and 18 months CD has the same APY as the 6 month rate so you’re better off sticking with shorter term CDs.

Rates and APY

6 Months Rate 0.75% APY 0.75%
9 Months Rate 0.75% APY 0.75%
12 Months Rate 1.39% APY 1.40%
18 Months Rate 0.75% APY 0.75%
24 Months Rate 1.00% APY 1.00%
36 Months Rate 1.24% APY 1.25%
48 Months Rate 1.24% APY 1.25%
60 Months Rate 1.24% APY 1.25%

You can apply online or by mail to open a certificate of deposit account.

Author: Stacy Everest
April 14th, 2011

First Citizens’ Federal Credit Union based in Fairhaven, Massachusetts is advertising several different types of credit union CD rates. Federal Citizens’ Credit Union’s advertised CD interest rates are for regular term CD rates, IRA CD Rates and SEP CD rates. All certificates have a minimum opening balance.

First Citizens’ Federal Credit Union certificates are available in terms ranging between 3 months and 60 months. If you want to get the highest CD rates at the credit union you’ll have invest in the term or IRA certificates.

Here are the details about relationship certificates. The Relationship Premium CD Rates apply to term certificates and IRAs only. You receive a higher CD dividend rate based on your total relationship: Checking with Direct Deposit earns an extra 0.25%, A Mortgage Product earns an extra 0.10%, A Consumer Loan earns an extra 0.15%, Checking without Direct Deposit (open for at least one year) earns an extra 0.15% over our standard rates.

The credit union is also advertising a special CD rate. An 11 month Look Closer-Flex CD rate has a CD rate is 1.00 percent with an APY 1.25 percent. The relationship rate on the CD is higher at 1.49 percent with an APY of 1.50 percent. That is one of the best 11 month CD rates available right now in Fairhaven.

CD Rates and CD Yields at First Citizens’ Federal Credit Union

  • 3 Months 0.35% APY 0.35%
  • 6 Months 0.50% APY 0.50%
  • 12 Months 1.00% APY 1.00%
  • 2 Years 1.09% APY 1.10%
  • 30 Months 1.19% APY 1.20%
  • 3 Years  1.44% APY 1.45%
  • 4 Years 1.49% APY 1.50%
  • 5 Years 1.74% APY 1.75%

First Citizens’ Federal Credit Union Relationship CD Rates

  • 3 Months 0.85% APY 0.85%
  • 6 Months 1.00% APY 1.00%
  • 12 Months 1.00% APY 1.00%
  • 2 Years 1.59% APY 1.60%
  • 30 Months 1.69% APY 1.70%
  • 3 Years  1.93% APY 1.95%
  • 4 Years 2.08% APY 2.10%
  • 5 Years 2.23% APY 2.25%

For information about joining Federal Citizens’ Credit Union, a list of the credit union’s IRA CD rates, savings account rates and checking account rates visit firstcitizens.org.

Author: James Martin
April 5th, 2011

Max Credit Union based in Montgomery, Alabama, is advertising personal CD rates and business CD rates. Max Credit Union’s certificates of deposit are available in terms ranging between 30 days and 3 years. Max Credit Union’s certificate of deposit rates are not the highest CD rates available in Montgomery but their rates are competitive with other credit unions and banks.

Max Credit Union’s shortest term certificate of deposit, their 1 month certifcate current has a CD rate of 0.25 percent with a CD yield of 0.25 percent. 2 month credit union CD rate are slightly higher averaging 0.30 percent with a CD interest yield of 0.30 percent.

The credit union’s longest term CD rates, 3 year CD rates, are at 1.00 percent with a yield of 1.00 percent.

Personal CD Rates Max Credit Union

  • 30 Day 0.25% Yield 0.25%
  • 60 Day 0.30% Yield 0.30%
  • 90 Day 0.50% Yield 0.50%
  • 6 Month 0.55% Yield 0.55%
  • 12 Month 0.65% Yield 0.65%
  • 18 Month 0.75% Yield 0.75%
  • 24 Month 0.85% Yield 0.85%
  • 30 Month 1.00% Yield 1.00%
  • 36 Month 1.00% Yield 1.00%

Business CD Rates Max Credit Union

  • 30 Day 0.25% Yield 0.25%
  • 60 Day 0.30% Yield 0.30%
  • 90 Day 0.50% Yield 0.50%
  • 6 Month 0.55% Yield 0.55%
  • 12 Month 0.65% Yield 0.65%
  • 18 Month 0.75% Yield 0.75%
  • 24 Month 0.85% Yield 0.85%
  • 30 Month 1.00% Yield 1.00%
  • 36 Month 1.00% Yield 1.00%

For information about joining Max Credit Credit Union and a current list of the credit union’s CD dividend rates go to mymax.com.

Author: Robert Till
April 3rd, 2011

Discover Bank, the banking arm of the credit card company Discover, is offering some very competitive CD rates. Discover Bank is advertising bank CD rates with terms ranging between 3 months and 10 years. Discover’s current 12 month CD rate is 1.19 percent with a bank CD yield of 1.20 percent. That rate is one of the best CD rates available from any bank or credit union.

Discover’s shorter term CD interest rates are also very competitive. Current 3 month CD rates are 0.55 percent with a CD interest yield of 0.55 percent. That rate is higher than most 12 month CD rates at banks and credit unions. 6 month certificate of deposit rates are at 0.90 percent with a yield of 0.90 percent.

CD Rates Discover Bank

3 Months Rate 0.55% Yield 0.55%
6 Months Rate 0.90% Yield 0.90%
9 Months Rate 1.00% Yield 1.00%
12 Months Rate 1.19% Yield 1.20%
18 Months Rate 1.29% Yield 1.30%
24 Months Rate 1.39% Yield 1.40%
30 Months Rate 1.49% Yield 1.50%
3 Years Rate 1.73% Yield 1.75%
4 Years Rate 1.98% 2.00%
5 Years Rate 2.27% Yield 2.30%
7 Years Rate 2.57% Yield 2.60%
10 Years Rate 2.96% Yield 3.00%

As with all certificate of deposit accounts there is an early withdrawal penalty, the penalty for a certificate of deposit with a term of less than 1 year is 3 months of simple interest. The penalty for a CD account term of 1 year to 5 years is 6 months of simple interest. Terms greater than 5 years the penalty is 9 months of simple interest. What is simple interest? Interest that is calculated on a sum that does not include previous interest earnings.

All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. Open a Discover Bank CD account here: Discover CD Application

Author: James Martin
March 28th, 2011

Are you searching online for the highest CD rates? Bank of Internet, an online bank, is offering some of the highest bank CD rates available right now. Most people haven’t heard of Bank of Internet but the bank is a public traded (NASDAQ:BOFI) bank based in San Diego, California

Bank of Internet is advertising regular certificates of deposit with terms of 3 months to 60 months. The minimum opening balance for a personal certificate of deposit is $1,000. 

Bank of Internet’s 3 to 5 month bank CD rates are at 0.35 percent with a bank CD yield of 0.35 percent. The longest term certificate of deposit rates advertised by Bank of Internet are their 60 month CD rates. Naturally the longest term has the best CD rate. The current 60 month CD rate is 2.46 percent with a CD interest yield of 2.49 percent. The 60 month rate is one of the best CD rates in San Diego, CA or any other town.

 CD Rates Bank of Internet

  • 3 to 5 Month Bank CD Rates 0.35% CD Yields 0.35%
  • 6 to 11 Month Bank CD Rate 1.14% CD Yields 1.15%
  • 12 to 23 Month Bank CD Interest Rates 1.40% CD Yields 1.41%
  • 24 to 35 Month Bank CD Interest Rate 1.71% CD Yields 1.72%
  • 36 to 47 Month CD Rates at Bank 2.03% CD Yields 2.05%
  • 48 to 59 Month CD Rates 2.26% CD Yields 2.28%
  • 60 Month CD Rates 2.51% CD Yields 2.54%

BofI CD Account Features

  • CD terms from three months to five years
  • Interest compounded daily
  • Free electronic transfer of interest
  • Auto renewal with 10 day grace period
  • Living Trust account ownerships available
  • FDIC insured for up to $250,000

Visit bankofinternet.com for a current list of interest rates.

Author: Monica Harris
March 21st, 2011

Black River Country Bank of Black River Falls, Wisconsin, is advertising some very competitive bank CD rates. Black River Country Bank is advertising certificates of deposit with terms ranging between 6 months and 60 months. The minimum opening balance for a certificate deposit account at Black River Country Bank is $1,000. 

Black River Country Bank’s 6 month CD interest rate is one of the highest CD rates available right now for a 6 month certificate of deposit. The current 6 month CD rate is 0.80 percent with a CD yield of 0.80 percent. That rate is better than most 12 month CD rates from banks and credit unions in Black River Falls.

Black River Country Bank’s 12 month CD rates are also very good rates. The bank’s current 12 month CD rate is 1.10 percent with a 12 month CD yield of 1.10 percent.

CD Rates and CD Yields Black River Country Bank

  • 6 Month CD 0.80% Yield 0.80%
  • 1 Year CD 1.10% Yield 1.10%
  • 2 Year CD 1.40% Yield 1.41%
  • 3 Year CD 1.85% Yield 1.86%
  • 4 Year CD 2.15% Yield 2.17%
  • 5 Year CD 2.45% Yield 2.47%

CD rates at banks change all the time, for a current list of Black River Country Bank’s CD rates and CD yields go to brcbank.com.

Author: Stacy Everest
March 18th, 2011

Virtual Bank, a division of Lydian Private Bank, which is headquartered in Palm Beach, Florida is advertising some very competitive bank CD rates. Virtual Bank is advertising regular CD rates, e-CD rates and Institutional CD rates. All certificates of deposit have a minimum opening balance of $10,000.

Compare CD rates at banks and CD rates at credit unions by searching our rate list at CDRates.RatesORama.com.

Virtual Bank’s highest CD rates are on their e-certificates of deposit. The best e-CD rate is on their 60 month certificate of deposit. The current 5 year CD interest rate is 2.20 percent with a CD interest yield of 2.22 percent. That is one of the best 5 year CD rates in Palm Beach, FL.

Virtual Bank’s shorter term certificate of deposit rates are also very competitive with any bank or credit union in Palm Beach. The current 1 month bank CD rate is 0.30 percent with 1 month CD yield of 0.30 percent.

CD Rates and CD Yields Virtual Bank

Virtual Bank Regular CD Rates

  • 1 Month 0.25% Yield 0.25%
  • 2 Month 0.30% Yield 0.30%
  • 3 Month 0.45% Yield 0.45%
  • 6 Month 0.85% Yield 0.85%
  • 9 Month 0.95% Yield 0.95%
  • 12 Month 1.05% Yield 1.06%
  • 18 Month 1.20% Yield 1.21%
  • 2 Year 1.30% Yield 1.31%
  • 3 Year 1.65% Yield 1.66%
  • 4 Year 1.85% Yield 1.87%
  • 5 Year  2.15% Yield 2.17%

Virtual Bank e-CD Rates

  • 1 Month 0.30% Yield 0.30%
  • 2 Month 0.35% Yield 0.35%
  • 3 Month 0.60% Yield 0.60%
  • 6 Month 0.90% Yield 0.90%
  • 9 Month 1.00% Yield 1.00%
  • 12 Month 1.10% Yield 1.11%
  • 18 Month 1.25% Yield 1.26%
  • 2 Year 1.35% Yield 1.36%
  • 3 Year 1.70% Yield 1.71%
  • 4 Year 1.90% Yield 1.92%
  • 5 Year  2.20% Yield 2.22%

Virtual Bank Institutional CD Rates

  • 1 Month 0.10% Yield 0.10%
  • 2 Month 0.20% Yield 0.20%
  • 3 Month 0.20% Yield 0.20%
  • 6 Month 0.35% Yield 0.35%
  • 9 Month 0.35% Yield 0.35%
  • 12 Month 0.60% Yield 0.60%
  • 18 Month 0.75% Yield 0.75%
  • 2 Year 0.95% Yield 0.95%
  • 3 Year 1.30% Yield 1.31%
  • 4 Year 1.60% Yield 1.61%
  • 5 Year  1.95% Yield 1.97%

Bank CD rates change all the time. For a current list of Virtual Bank’s CD rates visit virtualbank.com. To search for interest rates from other banks and credit unions go to RatesORama.com.

Author: James Martin
March 16th, 2011

NewDominion Direct, the online banking arm of NewDominion bank based in Charlotte, North Carolina, is advertising some of the best CD ratesavailable anywhere. NewDominion Direct is advertising fixed CD rates, fixed IRA CD rates and variable CD rates. The bank’s fixed CD rates are better than the variable CD rates.

Search and compare CD rates at banks and CD rates at credit union by searching our rate tables at CDRates.RatesOrama.com

Fixed certificate of deposit rates are available in terms range between 3 months and 5 years. Variable certificate of deposit rates are available in terms of 12 months, 18 months, 24 months and 30 months. The minimum opening certificate of deposit balance is $3,000. IRA certificates of deposit have a minimum opening balance of $500.

NewDominion Direct’s 12 month CD interest rate is 1.15 percent with a 12 month CD yield of 1.16 percent. That rate is one of the best bank CD rates available right now in Charlotte.

CD Rates NewDominion Direct

Regular CD Rates and CD Yields

  • 3 Month 0.44% Yield 0.45%
  • 6 Month 0.64% % Yield 0.65%
  • 9 Month 1.00% Yield 1.01%
  • 12 Month 1.15% Yield 1.16%
  • 18 Month 1.20% Yield 1.21%
  • 24 Month 1.30% Yield 1.31%
  • 30 Month 1.44% Yield 1.45%
  • 36 Month 1.63% Yield 1.65%
  • 48 Month 1.78% Yield 1.80%
  • 60 Month 1.98% Yield 2.00%

Variable CD Rates and CD Yields

  • 1 Year 0.35% Yield 0.35%
  • 18 Month 0.40% Yield 0.40%
  • 2 Year 0.45% Yield 0.45%
  • 30 Month 0.45% Yield 0.45%

IRA CD Rates and CD Yields

  • 3 Month 0.44% Yield 0.45%
  • 6 Month 0.64% Yield 0.65%
  • 12 Month 1.15% Yield 1.16%
  • 24 Month 1.30% Yield 1.31%
  • 36 Month 1.63% Yield 1.65%
  • 48 Month 1.78% Yield 1.80%
  • 60 Month 1.98% Yield 2.00%

For a more current list of  New Dominion Direct’s bank CD rates, IRA CD rates and variable CD interest rates visit newdominiondirect.com.

Author: Stacy Everest
March 14th, 2011

Central Illinois Bank (CIBM) headquartered in Champaign, Illinois,  is advertising four special promo bank CD rates. The promotional certificate of deposit terms are available in 3 years and 5 years for both regular certificates of deposit and IRA certificates of deposit.

Central Illinois Bank’s promo CD rates are not the best CD rates available in Champaign but they are competitive with other CD rates at banks and CD rates at credit unions.

Central Illinois Bank’s 36 month promotional certificate of deposit has a CD interest rate of 1.49 percent with a CD interest yield of 1.50 percent. Central Illinois Bank’s 60 month promo certificate of deposit has a bank CD rate of 2.18 percent and a bank CD yield of 2.20 percent.

Certificate of deposit rates change all the time, for a current list of CIBM’s CD rates go to centralillinoisbank.com. For a list of CD rates from other banks you can use our rate tables at cdrates.ratesorama.com.

Author: James Martin
March 12th, 2011

Thomaston Savings Bank headquartered in Thomaston, Connecticut, is advertising some very competitive bank CD rates. Thomaston Savings Bank is advertising regular CD rates and and jumbo CD rates. Certificate of deposit terms are available between 3 months and 60 months for both regular certificates of deposit and jumbo certificates of deposit. The bank’s CD interest rates are not the highest CD rates around but they are competitive with other CD rates at banks and CD rates at credit unions in Connecticut.

Thomaston Savings Bank’s best CD rates are on their jumbo CD rates and the highest CD rate is on their 60 month jumbo certificate of deposit. The current 5 year jumbo CD rate is 2.81 percent with a jumbo CD yield of 2.85 percent.

Thomaston Savings Bank’s short term CD rates are also very competitive. The bank’s current 12 month certificate of deposit rate is 0.75 percent with a yield of 0.75 percent. 12 month jumbo certificate of deposit rates are slightly higher at 0.80 percent with a jumbo yield of 0.80 percent.

 CD Rates Thomaston Savings Bank

Regular CD Rates and CD Yields

  • 91 Day 0.40% Yield 0.40%
  • 6 Month 0.45% Yield 0.45%
  • 9 Month 0.60% Yield 0.60%
  • 12 Month 0.75% Yield 0.75%
  • 16 Month 0.85% Yield 0.85%
  • 18 Month 1.00% Yield 1.01%
  • 24 Month 1.34% Yield 1.35%
  • 30 Month 1.39% Yield 1.40%
  • 4 Year 2.23% Yield 2.25%
  • 5 Year 2.76% Yield 2.80%

Jumbo CD Rates and CD Yields

  • 91 Day 0.45% Yield 0.45%
  • 6 Month 0.50% Yield 0.50%
  • 9 Month 0.65% Yield 0.65%
  • 12 Month 0.80% Yield 0.80%
  • 16 Month 0.90% Yield 0.90%
  • 18 Month 1.05% Yield 1.06%
  • 24 Month 1.39% Yield 1.40%
  • 30 Month 1.44% Yield 1.45%
  • 4 Year 2.27% Yield 2.30%
  • 5 Year 2.81% Yield 2.85%

For a current list of Thomaston Savings Bank CD rates visit the bank online at thomastonsavingsbank.com.

Author: Stacy Everest
March 10th, 2011

Liberty Bank for Savings headquartered in Chicago, Illinois, is advertising a regular bank CD rates, individual retirement account (IRA) CD rates and Gift CD rates. Liberty Bank for Savings’ CD interest rates are not the best CD rates available right now but they are competitive for any bank or credit union in Chicago.

The bank’s highest CD rates are on their IRA certificates of deposit. The current 12 month IRA CD rate is 0.60 percent with a yield of 0.60 percent. Regular 12 month CD rates and Gift 12 month CD rates are 0.50 percent with a yield of 0.50 percent.

Regular certificates of deposit are available in terms ranging between 3 months and 5 years. IRA certificates of deposit are available in terms of 1 year to 7 years and Gift certificates of deposit are available in terms of 1 year to 5 years.

CD Rates and CD Yields Liberty Bank for Savings

Regular Interest Rates

  • 91 Day 0.20% Yield 0.20%
  • 6 Month 0.35% Yield 0.35%
  • 1 Year 0.50% Yield 0.50%
  • 1 1/2 Year 0.70% Yield 0.70%
  • 2 Year 1.00% Yield 1.00%
  • 2 1/2 Year 1.09% Yield 1.10%
  • 3 Year 1.24% Yield 1.25%
  • 3 1/2 Year 1.39% Yield 1.40%
  • 5 Year 1.74% Yield 1.75% 

IRA Interest Rates

  • 1 Year 0.60% Yield 0.60%
  • 1 1/2 Year 0.70% Yield 0.70%
  • 3 Year 1.24% Yield 1.25%
  • 5 Year 1.39% Yield 1.40%
  • 7 Year 1.59% Yield 1.60%

Gift Interest Rates

  • 1 Year 0.50% Yield 0.50%
  • 2 Year 1.00% Yield 1.00%
  • 3 Year 1.24% Yield 1.25%
  • 5 Year 1.74% Yield 1.75%

Liberty Bank for Savings has been in business since 1898 and their deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. CD rates at banks change constantly, for a current list of Liberty Bank for Savings CD rates go to libertybank.com.

Author: Monica Harris
March 8th, 2011

Mississippi Federal Credit Union based in Jackson, Mississippi, is advertising some very competitive credit union CD rates. Mississippi Federal Credit Union is advertising regular certificates (certificates of deposit) and mini-jumbo certificates. Mississippi Federal Credit Union’s mini-jumbo CD rates are 0.10 percent higher than the regular CD rates. Certificate of deposit terms are available in 6 months, 12 months and 24 months.

Mississippi Federal Credit Union isn’t offering the best CD rates in Jackson, MS, but there rates are better than most credit unions and banks.

 CD Rates and CD Yields Mississippi Federal Credit Union

Regular CD Rates and CD Yields

  • 6 Month CD 1.00% Yield 1.00%
  • 12 Month CD 1.00% Yield 1.00%
  • 24 Month CD 1.24% Yield 1.25%

Mini-Jumbo CD Rates and CD Yields

  • 6 Month CD 1.10% Yield 1.10%
  • 12 Month CD 1.10% Yield 1.10%
  • 24 Month CD 1.34% Yield 1.35%

As with any credit union you will have to join Mississippi Federal Credit Union to open a certificate account. For a list of current interest rates and information about joining go to msfcu.us.

Author: Monica Harris
March 6th, 2011

Community Bank of Bergen County, headquartered in Maywood, New Jersey is offering some very competitive bank CD rates. Community Bank of Bergen County is offering regular CD rates, jumbo CD rates and Individual Retirement Account (IRA) CD rates.

Regular certificates of deposit are available in terms ranging from 91 days to 5 years. Jumbo certificates of deposit are available between terms of 9 months and 5 years.  IRA certificates of deposit are available in terms between 1 1/2 years to 5 years. Current rates are the same for regular certificates of deposit, jumbo certificates of deposit and IRA certificates of deposit.

Community Bank of Bergen County long term bank CD rates and short term bank CD rates are all very competitive for any bank or credit union in Maywood or any other town in New Jersey. 5 year interest rates are currently at 2.75 percent with a yield of 2.78 percent.

Community Bank of Bergen County CD Rates

Regular interest rates

  • 91 Day 0.40% Yield 0.40%
  • 182 day 0.75% Yield 0.75%
  • 9 Month 0.75% Yield 0.75%
  • 9 Month ($25,000+) 0.75% Yield 0.75%
  • 1 Year 1.00% Yield 1.00%
  • 1 Year($25,000+) 1.00% Yield 1.00%
  • 18 Month 1.15% Yield 1.15%
  • 18 Month 1.00% Yield 1.16%
  • 2 Year 1.50% Yield 1.51%
  • 2 Year ($25,000+) 1.50% Yield 1.51%
  • 30 Month 1.50% Yield 1.51%
  • 30 Month ($25,000+) 1.50% Yield 1.51%
  • 3 Year 2.00% Yield 2.02%
  • 3 Year ($25,000+) 2.00% Yield 2.02%
  • 5 Year 2.75% Yield 2.78%
  • 5 Year ($25,000+) 2.75% Yield 2.78%

IRA interest rates

  • 1 1/2 Years 1.15% Yield 1.15%
  • 2 Years 1.50% Yield 1.51%
  • 2 1/2 Years 1.50% Yield 1.51%
  • 3 Years 2.50% Yield 2.52%
  • 5 Years 2.75% Yield 2.78%

 

Author: James Martin
March 4th, 2011

First Federal Bank based in Charleston, South Carolina, is advertising several types CD rates including regular bank CD rates, the bank’s Money Builder CD rates, jumbo CD rates, the bank’s Escalator CD rate, the bank’s Goal Setter CD rate, the bank’s 3 Year Win Win CD rate and the bank’s Educator CD rate.

First Federal Bank basically has certificate of deposit accounts for many different goals. First Federal Bank’s regular CD interest rates are available in two tiers based on account balance. Balances up to $19,999 earn a tier 1 CD rates and balances of $20,000 or more earn a tier 2 CD rates.

First Federal Bank’s highest CD rate is on their 5 year tier 1 CD rates and tier 2 CD rates. Both 60 month rates are 2.25 percent which is one of the best 60 month CD rates available right now at any South Carolina bank or credit union.

CD Rates & CD Yields First Federal Bank

  • 3 Month – Tier 1 CD 0.25% Yield 0.25%
  • 3 Month – Tier 2 CD 0.35% Yield 0.35%
  • 5 Month CD 0.55% Yield 0.55%
  • 6 Month – Tier 1 CD 0.25% Yield 0.35%
  • 6 Month – Tier 2 CD 0.40% Yield 0.40%
  • 7 Month CD 0.50% Yield 0.50%
  • 9 Month – Tier 1 CD 0.35% Yield 0.35%
  • 9 Month – Tier 2 CD 0.40% Yield 0.40%
  • 14 Month CD 0.75% Yield 0.75%
  • 15 Month CD 0.50% Yield 0.50%
  • 18 Month – Tier 1 CD 0.60% Yield 0.60%
  • 18 Month – Tier 2 CD 0.60% Yield 0.60%
  • 1 Year – Tier 1 CD 0.25% Yield 0.25%
  • 1 Year – Tier 2 CD 0.45% Yield 0.45%
  • 2 Year – Tier 1 CD 0.85% Yield 0.85%
  • 2 Year – Tier 2 CD 1.01% Yield 1.01%
  • 3 Year – Tier 1 CD 1.40% Yield 1.40%
  • 3 Year – Tier 2 CD 1.50% Yield 1.50%
  • 5 Year – Tier 1 CD 2.25% Yield 2.25%
  • 5 Year – Tier 2 CD 2.25% Yield 2.25%

CD rates at banks change all the time, for a current list of bank CD rates at First Federal Bank go to firstfederal.com.

Author: Robert Till
February 25th, 2011

Atlanta Postal Credit Union based in Atlanta, Georgia, is advertising some of the best CD rates currently available any where in Georgia or the U.S.  available today. Atlanta Postal Credit Union is advertising regular share credit union CD rates and Individual Retirement Account (IRA) CD rates.

Atlanta Postal Credit Union’s short term CD rates and long term CD rates are all better than most comparable bank CD rates and credit union CD rates. The current 3 month (91 day) rate is 1.00 percent with a yield of 1.00 percent.

Searching for the best CD Rates? Use our CD rate list at CDRates.RatesORama.com to find a list of highest CD rates from banks and credit unions in your area.

Atlanta Postal Credit Union’s 12 month CD rate is currently at 1.29 percent with a 12 month CD yield of 1.30 percent. Most CD rates at banks and CD rates at credit unions are a lot less than APCU’s 12 month CD interest rate.

CD Rates Atlanta Postal Credit Union

Share Rates

  • 91 Day CD 1.00% Yield 1.00%
  • 6 Month CD 1.15% Yield 1.15%
  • 12 Month CD 1.29% Yield 1.30%
  • 2 Year CD 1.58% Yield 1.60%
  • 30 Month CD 1.78% Yield 1.80%
  • 3 Year CD 1.98% Yield 2.00%
  • 4 year CD 2.23% Yield 2.25%
  • 5 Year CD 2.47% Yield 2.50%

IRA Rates

  • 12 Month CD 1.29% Yield 1.30%
  • 2 Year CD 1.58% Yield 1.60%
  • 30 Month CD 1.78% Yield 1.80%
  • 3 Year CD 1.98% Yield 2.00%
  • 4 year CD 2.23% Yield 2.25%
  • 5 Year CD 2.47% Yield 2.50%

To open a certificate at Atlanta Postal Credit Union you will have to join the credit union. Information about joining and a list of the credit unions current interest rates can  be found at apcu.com.

Author: Monica Harris
February 23rd, 2011

First Jersey Credit Union based in Wayne, New Jersey, is advertising regular share CD rates and Individual Retirement Account CD rates. First Jersey Credit Union’s long term CD rates are some of the highest CD rates available right now. Advertised CD rates are available in 6 month, 1 year, 2 year 3 year and 5 year terms. The minimum opening deposit for regular certificates and IRA certificates is $1,000.

First Jersey Credit Union’s 5 year regular CD rates and IRA CD rates are at 2.50 percent with a CD yield of 2.53 percent. That is one of the best CD rates available right now in Wayne, New Jersey, or any where else in the U.S.

FJCU’s short term CD rates are not the top CD rates around but their rates are competitive. The current 6 month credit union CD rate is 0.75 percent with a CD interest yield of 0.75 percent.12 month CD interest rates are 1.00 percent with a CD yield of 1.00 percent.

CD Rates First Jersey Credit Union

  • 6 month CD 0.75% Yield 0.75%
  • 1 Year CD 1.00 Yields 1.00%
  • 2 Year CD 1.50% Yields 1.51%
  • 3 Year CD 1.75% Yields 1.76%
  • 5 Year CD 2.50% Yields 2.53%

IRA CD Rates First Jersey Credit Union

  • 6 month CD 0.75% Yield 0.75%
  • 1 Year CD 1.00 Yields 1.00%
  • 2 Year CD 1.50% Yields 1.51%
  • 3 Year CD 1.75% Yields 1.76%
  • 5 Year CD 2.50% Yields 2.53%
Author: James Martin
February 21st, 2011

Sovereign Bank is offering an 18 month special promotional CD rate. The current 18 month CD rate is 1.24 percent with a CD yield of 1.85 percent. The minimum deposit for both certificates of deposit is only $500.

Sovereign Bank’s 18 month promotional certificate of deposit has the following account benefits:

  • Quarterly statements available upon request
  • Reinvest the interest payments back into the certificate of deposit, or have it deposited into a qualifying account
  • FDIC insured for up to $250,000

You will need to provide the following information to open a certificate of deposit account with Sovereign Bank.

  • Social Security number
  • Current address and prior address(es) if you have lived at your current address for less than two years
  • Driver’s license number
  • Employment Information
  • Email address

Sovereign Bank is also advertising Choose your term certificate of deposit rates, Individual Retirement Account CD rates and their Rising Rate CDs CD rates.

For more information about Sovereign Bank’s bank CD rates and a list of current CD interest rates go to  Sovereign Bank.

Author: Stacy Everest
February 19th, 2011

Arkansas Federal Credit Union (AFCU) based in Jacksonville, Arkansas, is advertising regular CD rates and jumbo CD rates. Certificate of deposit terms range from 91 days to 60 months. The minimum opening balance for a regular certificate of deposit is $1,000. The minimum opening balance for a jumbo certificate of deposit is $100,000.

Arkansas Federal Credit Union doesn’t have the best CD rates around but their rates are competitive with any bank or credit union in Arkansas. You would think the credit union’s jumbo CD rates would be higher than their regular CD rates but they not. The rates and yields are the same for both types of certificates.

AFCU’s top CD rate is on their 3 year, 4 year and 5 year certificates of deposit. The regular CD rate and 5 year jumbo CD rate is 1.84 percent with a CD yield of 1.85 percent. The 3 year CD rate is the best deal right now.

CD Rates & Jumbo CD Rates Arkansas Federal Credit Union

  • 91-Day 0.15% Yield 0.15%
  • 182-day 0.20% Yield 0.20%
  • One year 0.80% Yield 0.80%
  • Two year 1.49% Yield 1.50%
  • Three year 1.84% Yield 1.85%
  • Four year 1.84% Yield 1.85%
  • Five year1.84% Yield 1.85%

As with any credit union you will have to join Arkansas Federal Credit Union to open a certificate of deposit account. For information on joining AFCU and a list of current credit union CD rates go to afcu.org.

Author: Monica Harris
February 16th, 2011

Middlesex Savings Bank based in Natick, Massachusetts, is advertising regular CD rates and Individual Retirement Account – IRA CD rates. Certificate of deposit terms range between 3 months and 71 months. The minimum opening certificate of deposit balance is $250.

Middlesex Savings Bank’s CD interest rates are not the best CD rates around but the rates are competitive with other banks in Natick and in MA. The bank’s 3 month to 5 month CD rates were lowered from 0.65 percent to 0.55 percent. Their short term CD rates still beat the national average CD rates. Since interest rates will be heading higher later this year we recommend sticking with short term certificates of deposit.

 CD Rates Middlesex Savings Bank

  • 3-5 Month Rate 0.30% Yield 0.30%
  • 6-11 Month Rate 0.55% Yield 0.55%
  • 12-23 Month Rate 1.00% Yield 1.00%
  • 24-35 Month Rate 1.24% Yield 1.25%
  • 36-47 Month Rate 1.74% Yield 1.75%
  • 48-59 Month Rate 1.83% Yield 1.85%
  • 60-71 Month Rate 1.98% Yield 2.00%

IRA CD Rates Middlesex Savings Bank 

  • 3-5 Month Rate 0.30% Yield 0.30%
  • 6-11 Month Rate 0.55% Yield 0.55%
  • 12-23 Month Rate 1.00% Yield 1.00%
  • 24-35 Month Rate 1.24% Yield 1.25%
  • 36-47 Month Rate 1.74% Yield 1.75%
  • 48-59 Month Rate 1.83% Yield 1.85%
  • 60-71 Month Rate 1.98% Yield 2.00%
  • 12-18 Month Adjustable IRA CD Rate 1.00% Yield 1.00%
Author: Robert Till
February 14th, 2011

Andrews Federal Credit Union based in Suitland, Maryland, is advertising regular credit union CD rates, traditional IRA CD rates, Roth IRA CD rates, Educational CD rates and the credit union’s First Step CD rates. The minimum opening certificate of deposit balance on all these types of certificates id $1,000. First Step certificates of deposit have a minimum opening balance of $25.

Andrews Federal Credit Union’s CD interest rates are some of the highest CD rates available in Maryland or any other state. Andrews Federal Credit Union’s 6 month CD rates are 0.80 percent with a CD yield of 0.80 percent. That rate and yield is higher than most 12 month CD rates at banks and credit unions.

12 month CD rates at Andrews Federal Credit Union are at 1.00 percent with a yield of 1.00 percent. At this point in the economic cycle we recommend investing in shorter term CD rates like 12 month CDs since interest rates will be going higher later in 2011.

CD Rates Andrews Federal Credit Union

Share CD Interest Rates and CD Yields

  • 6-Month 0.80% Yield 0.80%
  • 12-Month CD 1.00% Yield 1.00%
  • 18-Month CD 1.24% Yield 1.25%
  • 24-Month CD 1.39% Yield 1.40%
  • 36-Month CD 1.78% Yield 1.80%
  • 48-Month CD 2.18% Yield 2.20%
  • 60-Month CD 2.28% Yield 2.30%

Traditional IRA, Roth IRA & Educational CD Rates and CD Yields

  • 6-Month 0.80% Yield 0.80%
  • 12-Month CD 1.00% Yield 1.00%
  • 18-Month CD 1.24% Yield 1.25%
  • 24-Month CD 1.39% Yield 1.40%
  • 36-Month CD 1.78% Yield 1.80%
  • 48-Month CD 2.18% Yield 2.20%
  • 60-Month CD 2.28% Yield 2.30%

First Step CD Rate and APY

  • 12-Month CD 0.65% Yield 0.65%
Author: James Martin
February 12th, 2011

Park Bank headquartered in Madison, Wisconsin is offering a special 10 month bank CD rate. Park Bank’s special certificate of deposit on their 10 month CD. The current CD interest rate is 1.14 percent with a CD interest yield of 1.15 percent.

Park Bank’s 10 month CD rate beats most 12 month CD rates available these days. The 10 month CD rate is only available for regular certificates of deposit not individual retirement account certificates of deposit.

In addition to the 10 month CD rate special Park Bank is also advertising several different types of mortgage rates including construction mortgages, lot mortgages and bridge mortgages. 30 year mortgage rates at Park Bank are advertised at 5.125 percent which is one of the best current mortgage rates available right now. 15 year mortgage rates are advertised at 4.375 percent.

Park Bank has been in business since 1966. Deposit accounts at Park Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

Author: Stacy Everest
February 11th, 2011

South Carolina Federal Credit Union of North Charleston, South Carolina is advertising regular share CD rates, Individual Retirement Account (IRA) CD rates and jumbo share CD rates. South Carolina Federal Credit Union is offering certificates (certificates of deposit) in terms of 3 months to 5 years.

The minimum opening deposit for regular share certificate of deposit and IRA share certificate of deposit is $500. Jumbo share certificate of deposit have a minimum opening deposit of $50,000.

South Carolina Federal Credit Union highest CD rates is of course on their longest term jumbo credit union CD rate. The current jumbo share CD rate and jumbo IRA CD rate for certificates of 60 months is 2.18 percent with a jumbo yield of 2.20 percent.

CD Rates and CD Yields South Carolina Federal Credit Union 

  • 3 Month CD Rates 0.20% CD Yields 0.20%
    4 Month CD Rates 0.20% CD Yields 0.20%
  • 6 Month CD Rates 0.25% CD Yields 0.25%
  • 9 Month CD Rates 0.35% CD Yields 0.35%
  • 12 Month CD Rates 0.45% CD Yields 0.45%
  • 18 Month CD Rates 0.55% CD Yields 0.55%
  • 24 Month CD Rates 1.00% CD Yields 1.00%
  • 36 Month CD Rates 1.49% CD Yields 1.50%
  • 36 Month Step-UP 1.39% CD Yields 1.40%
  • 48 Month CD Rates 1.59% CD Yields 1.60%
  • 60 Month CD Rates 2.08% CD Yields 2.10%

Jumbo CD Rates and Jumbo CD Yields South Carolina Federal Credit Union 

  • 3 Month CD Rate 0.30% CD Yield 0.30%
  • 4 Month CD Rate 0.30% CD Yield 0.30%
  • 6 Month CD Rate 0.35% CD Yield 0.35%
  • 9 Month CD Rate 0.45% CD Yield 0.45%
  • 12 Month CD Rate 0.55% CD Yield 0.55%
  • 18 Month CD Rate 0.65% CD Yield 0.65%
  • 24 Month CD Rate 1.10% CD Yield 1.10%
  • 36 Month CD Rate 1.59% CD Yield 1.60%
  • 36 Month Step-Up CD Rate 1.49% CD Yield 1.50%
  • 48 Month CD Rate 1.69% CD Yield 1.70%
  • 60 Month CD Rate 2.18% CD Yield 2.20%
Author: Robert Till
February 8th, 2011

Texas Trust Credit Union (TTCU) based in Mansfield, Texas, is advertising several credit union CD rates. Texas Trust Credit Union advertised CD interest rates include regular CD rates, jumbo CD rates, IRA CD rates and the credit union”s “55 and better CD rates“.

Texas Trust Credit Union ‘s highest CD rate is on their 5 year term IRA CD rate. The current 5 year term IRA CD rate is 1.95 percent with an IRA term CD yield of 1.97 percent.

Texas Trust Credit Union is also advertising a 9 month Mega Flex CD rate that is only available to public servants. The current 9 month CD interest rate is 0.65 percent with a CD interest yield of 0.65 percent.

CD Rates and CD Yields Texas Trust Credit Union

  • 3 Month CD Rates 0.10% CD Yield 0.10%
  • 6 Month CD Rates 0.25 % CD Yield 0.25%
  • 1 Year CD Rates 0.65% CD Yield 0.65%
  • 2 Year CD Rates 0.90% CD Yield 0.90%
  • 3 Year CD Rates 1.15% CD Yield 1.16%
  • 4 Year CD Rates 2.03% CD Yield 2.05%
  • 5 Year CD Rates 1.90% CD Yield 1.92%

IRA CD Rates and IRA CD Yields Texas Trust Credit Union

  • 1 Year CD Rates 0.75% CD Yield 0.75%
  • 2 Year CD Rates 1.00% CD Yield 1.00%
  • 3 Year CD Rates 1.25% CD Yield 1.26%
  • 4 Year CD Rates 1.45% CD Yield 1.46%
  • 5 Year CD Rates 1.95% CD Yield 1.97%
Author: Monica Harris
February 5th, 2011

Dutch Point Credit Union based in Wethersfield, Connecticut, is advertising regular credit union CD rates and Individual Retirement Account (IRA) CD rates. Certificate of deposit terms for both types of certificates range between 3 months and 60 months. Regular certificates of deposit have a minimum opening balance of $1,000. IRA certificates of deposit have a minimum opening deposit of $500.

Dutch Point Credit Union is also advertising a Tiger Troop CD rate and an Extreme Teen CD rate. Both types of certificates are only available in 1 year terms. The current CD rate and CD yield onr both certificates is 0.70 percent, comparable to a 12 month regular CD rate.

 CD Rates & Yields Dutch Point Credit Union

Regular Share CD Rates and Yields

  • 3 Month CD Rates 0.25 Yields % 0.25%
  • 6 Month CD Rates 0.30 Yields % 0.30%
  • 9 Month CD Rates 0.50 Yields % 0.50%
  • 12 Month CD Rates 0.70 Yields % 0.70%
  • Tiger Troop  (1 year term) CD Rates 0.70% Yields 0.70%
  • Extreme Teen (1 year term) CD Rates 0.70% Yields 0.70%
  • 18 Month CD Rates 0.90 Yields % 0.90%
  • 24 Month CD Rates 1.19 Yields % 1.20%
  • 36 Month CD Rates 1.69 Yields % 1.70%
  • 48 Month CD Rates 1.98 Yields % 2.00%
  • 60 Month CD Rates 2.23 Yields % 2.25%

IRA CD Rates and Yields

  • 3 Month CD Rates 0.25 Yields % 0.25%
  • 6 Month CD Rates 0.30 Yields % 0.30%
  • 9 Month CD Rates 0.50 Yields % 0.50%
  • 12 Month CD Rates 0.70 Yields % 0.70%
  • 18 Month CD Rates 0.90 Yields % 0.90%
  • 24 Month CD Rates 1.19 Yields % 1.20%
  • 36 Month CD Rates 1.69 Yields % 1.70%
  • 48 Month CD Rates 1.98 Yields % 2.00%
  • 60 Month CD Rates 2.23 Yields % 2.25%

Besides having competitive CD interest rates Dutch Point Credit Union is offering a $100 reward for referring a relative or friend to the credit union. Here are the details:

Refer a new DPCU member–family, friend or co-worker–to Dutch Point Credit Union! If they open an account and take 1 of the following 4 services, they will be rewarded with $50 and you will be rewarded with $50 for referring them!*

Auto Loan of $10,000 or more
Checking Account with Direct Deposit**, Debit Card and eStatement 
DPCU Visa with a balance transfer of $5,000 or more
Home Equity Loan of $25,000 or more

Author: Stacy Everest
February 3rd, 2011

Milford Bank, headquartered in Milford, Connecticut, is advertising certificate of deposit rates with terms ranging between 91 days and 60 months. The minimum opening deposit on Milford Bank’s CD rates is $1,000.

Like most CD rates these rates are fixed, but Milford Bank is also advertising a 1 year individual retirement account certificate of deposit that has a variable CD rate. Which means the rate is tied to an index and can change at anytime. The minimum opening deposit for Milford Bank’s Floating rate CD is $25.

The best CD rate offered at Milford Bank is of course on their longest term certificate of deposit. Current 5 year bank CD rates are at 1.74 percent with a bank CD yield of 1.75 percent.

CD Rates and CD Yields  Milford Bank

  • 91 Day Rate 0.35% Yield 0.35%
  • 6 Month Rate 0.40% Yield 0.40%
  • 1 Year Rate 0.65% Yield 0.65%
  • 18 Month Rate 0.95% Yield 0.95%
  • 2 Years Rate 1.00% Yield 1.00%
  • 3 Years Rate 1.49% Yield 1.50%
  • 4 Years Rate 1.74% Yield 1.75%
  • 5 Years Rate 1.74% Yield 1.75%
Author: James Martin
February 1st, 2011

E Loan is advertising CD rates with certificate of deposit terms ranging between 1 month and 6 years. The minimum opening deposit for an E-Loan certificate of deposit is rather high at $10,000. In addition to bank CD rates E Loan is also advertising decent savings account rates.

E Loan’s highest CD rate is on their longest certificate of deposit term. Current 6 year CD rates are 2.03 percent with a CD yield of 2.05 percent. E Loan’s shortest term one month CD rate is 0.15 percent with a CD interest yield of 0.15 percent.

12 month certificate of deposit rates and yields are 0.65 percent right now. You can find 12 month CD rates higher then E Loan’s rates. Current 12 month Discover Bank CD rates are 1.29 percent with a yield of 1.30 percent. Discover’s 12 month rates are double E loan’s 12 month rates.

CD Rates from E Loan

1 Month Rate 0.15% Yield 0.25%
2 Month Rate 0.20% Yield 0.20%
3 Month Rate 0.25% Yield 0.25%
6 Month Rate 0.35% Yield 0.35%
9 Month Rate 0.50% Yield 0.50%
1 Year Rate 0.65% Yield 0.65%
18 Month Rate 0.90% Yield 0.90%
2 Year Rate 1.10% Yield 1.10%
3 Year Rate 1.34% Yield 1.35%
4 Year Rate 1.54% Yield 1.55%
5 Year Rate 1.98% Yield 2.00%
6 Year Rate 2.03% Yield 2.05%

Author: Robert Till
January 27th, 2011

Regions Bank, based in Birmingham, Alabama is advertising Regions certificates of deposit and Relationship certificates of deposit. Regions Bank’s regular CD rates are advertised in terms ranging from 7 days to 6 years. The minimum opening deposit varies based on the certificate of deposit term and type of certificate of deposit.  The minimum opening deposit for certificate of deposit terms of 7 days to 89 days is $2,500. Certificate of deposit terms 90 days and longer have a minimum opening deposit of $500.

The minimum opening deposit for a Relationship certificates of deposit is $500. The relationship with the bank is by having a Regions checking account. Of course Region’s Relationship CD rates are better than the Regions CD Rates.

Regions Bank is also advertising two special promotional CD rates. The Bank’s Special Relationship CD Rates have two terms, 34 months and 54 months. The 34 month rate is 1.69 percent with a yield of 1.70 percent. The 54 month rate is 2.08 percent with a yield of 2.10 percent.

The best CD rate on their regular relationship certificates of deposit is on their 5 years to 6 years certificate of deposit. The current bank CD rate is 1.04 percent with a CD yield of 1.05 percent. As you can see Region’s CD rates aren’t that greate. You can get 1 year CD rates higher than Region’s 6 year CD rates. In fact, right now, on our CD rates list Ally Bank is offering 1 year CD rates at 1.28 percent and AIG Bank is offering 1 year CD rates at 1.14 percent.

CD Rates and CD Yields Regions Bank

Relationship Bank CD Rates and Bank CD Yields

  • 0 Months Rate 0.03% Yield 0.03%
  • 1-5 Months Rate 0.28% Yield 0.28%
  • 6-11 Months Rate 0.30% Yield 0.30%
  • 12-17 Months Rate 0.35% Yield 0.35%
  • 18-23 Months Rate 0.40% Yield 0.40%
  • 24-29 Months Rate 0.40% Yield 0.40%
  • 30-33 Months Rate 0.50% Yield 0.50%
  • 36-47 Months Rate 0.85% Yield 0.85%
  • 48-53 Months Rate 0.95% Yield 0.95%
  • 55-59 Months Rate 0.95% Yield 0.95%
  • 60-72 months Rate 1.04% Yield 1.05%
Author: Stacy Everest
January 25th, 2011

Branch Banking and Trust Company (BB&T), headquartered in Winston Salem, North Carolina, is offering several different certificates of deposit. BB&T is advertising regular certificates of deposit with terms ranging from 7 days to 60 months. BB&T is also advertising a Home Saver CD, a College Saver CD, an Add-On CD, a Can’t Lose CD, a Stepped Rate CD and a Treasury CD.  All certificates of deposit for a certain type of investment.

The Home Saver certificate of deposit is designed to help the depositor save for buying a home. The certificate of deposit requires a minimum opening balance of $100. The CD term is 36 months. CD rates on the this certificate of deposit are tiered.

The College Saver certificate of deposit is for saving for college. The depositor can set up a recurring automatic deposit of $50 or more a month from a BB&T personal checking or savings account. Certificate of deposit terms on this account are 36 months, 48 months or 60 months. The minimum opening deposit is $100. Bank CD rates on this account are based on the CD term.

BB&T also offers certificates of deposit through the Certificate of Deposit Registry Service (CDARS). Which CDARS depositors can receive up to $50 million in FDIC insurance coverage through CDARS member banks.

To get a list of current CD interest rates from BB&T and to find out more information on the bank’s certificates of deposit visit bbt.com.

Author: Monica Harris
January 21st, 2011

U.S. Bank, headquarted in Minneapolis, Minnesota, is advertising special online CD rates that have some of the highest CD rates available right now in Minneapolis, Minnesota. Certificate of deposit terms are 19 months, 37 months, and 59 months. These CD rates at banks are for both consumer certificates of deposit and small business certificates of deposit. The minimum opening certificate of deposit account balance is $1,000.

The shortest term bank CD rate, on U.S. Bank’s 19 month certificate of deposit, is currently at 1.14 percent with a bank CD yield of 1.15 percent. This CD rate is better than most 18 month CD rates available right now.

U.S. Bank’s longest term CD rates on their 59 month certificate of deposit are the highest CD rates available right now. 59 month bank CD rates are currently offered at 2.47 percent with a CD interest yield of 2.50 percent.

CD Rates and CD Yields U.S. Bank

  • 19 Month CD Rates 1.14% CD Yields 1.15%
  • 37 month CD Rates 1.69% CD Yields 1.70%
  • 59 month CD Rates 2.47% CD Yields 2.50%

CD interest rates at banks change all the time. For a list of today’s CD interest rates at U.S. Bank go to usbank.com.

Author: Robert Till
January 17th, 2011

Beal Bank, headquartered in Plano, Texas, is offering some very competitive bank CD rates available in Texas. Beal Bank is advertising bank CD rateswith terms ranging between 3 months and 12 months months. The minimum opening deposit for a certificate of deposit account at Beal Bank is $10,000.

Beal Bank’s current 3 month CD interest rate is 0.51 percent with a CD interest yield of 0.51 percent. Investing in a short term certificate of deposit like a 3 month CD is a good choice these days. Why? Because bank CD rates and credit union CD rates are so low right now there is no where to go but up. That being said, why would you lock yourself into a long term CD that is paying a paltry CD interest rate?

Beal Bank’s 6 month bank CD interest rate is at 0.61 percent with a bank CD interest yield of 0.61 percent. 9 month certificate of deposit rates are curerntly offered at 0.71 percent with a certificate of deposit yield of 0.71 percent. 12 month CD rates are offered at 1.01 percent with a CD yield of 1.01 percent.

Beal Bank is offering other deposit products in addition to CD rates. Beal Bank is also advertising savings account rates and money market account rates. For more information go to bealbank.com.

Author: Stacy Everest
January 6th, 2011

State Bank of India US (SBI-US) is offering some very competitive bank CD rates right now. State Bank of India is advertising certificates of deposti with terms ranging between 3 months to 60 months or more. The bank’s CD rates are some of the best CD rates around these days.

CD interest rates and yields are based on account balance. Current CD rates and CD yields are the same for all balance tiers including jumbo certificates.

State Bank of India is the largest bank in India with operations in the United States. The minimum opening balance for a personal certificate of deposit account for U.S. residents is $5,000. Corporate customers and Non-U.S. residents can open a certificate of deposit with a minimum deposit of $10,000.

CD Rates and CD Yields from State Bank of India

  • 3 month CD Rates 0.30% CD Yields 0.30%
  • 6 month CD Rates0.75% CD Yields 0.75%
  • 12 month CD Rates 1.04% CD Yields 1.05%
  • 24 month CD Rates 1.25 % CD Yields 1.26%
  • 36 month CD Rates 1.70% CD Yields 1.71%
  • 60 month CD Rates 2.25% CD Yields 2.27%

The current CD yield for CD terms longer than 5 years is also 2.27 percent. Obivously CD rates on longer term certificates are alower the 2.25 percent. For more information about State Bank of India and a list of current CD rates visit statebank.com.

Author: James Martin
December 28th, 2010

M&T Bank, headquartered in Oakfield, New York,  is advertising CD rates with terms of 3 months to 60 months. You can apply for a certificate of deposit online by filling out the application which takes 10 minutes to complete. 

You can also use the bank’s “click Talk To Us Now” feature between the hours of 8:00 am to 6:00 pm EST Monday through Friday and a bank representative will call you back to help you with the CD application process. The minimum deposit to open a certificate of deposit at M and T Bank is $5,000.

CD Rates and CD Yields M&T Bank 

Term APY*
3 Month CD 0.25%
6 Month CD 0.25%
9 Month CD 0.25%
12 Month CD 0.50%
18 Month CD 0.50%
24 Month CD 0.50%
30 Month CD 0.65%
36 Month CD 0.75%
48 Month CD 1.01%
60 Month CD 1.25%

Use the link below to get a copy of M&T Bank’s certificate of deposit account application. Once you have filled out the application, print it and mail it to M&T along with a check for the certificate of deposit account.

You can apply for a Jumbo CD or IRA by calling M&T at 1-800-528-6532 Monday through Friday, 8am to 6pm(EST). A bank representative will be able to give you a list of jumbo CD rates and IRA CD rates.

Author: Monica Harris
December 22nd, 2010

Navy Federal Credit Union, headquartered in Vienna, Virginia is offering some of the best CD rates available from a credit union or bank in VA. Navy Federal Credit Union is one of the largest credit unions around with over over 3 million members. Navy Federal Credit Union is also offering two certificate of deposit specials that are really good deals.

The two specials include a 12 month Special EasyStartSM Certificate and a Special 30-Month Certificate. Both certificates are available for regular share certificates, IRA certificates and ESA certificates.

The Special EasyStartSM12 month CD rate is 2.86 percent and a CD yield of 2.90 percent. This CD account has a maximum balance of $3,000. This CD account also has the following account requirements to earn the CD interest rate and CD interest yield:

  • Only one Special EasyStart Certificate per member is allowed
  • Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay (minimum $300 per direct deposit)
  • A Navy Federal checking account
  • A monthly automatic deposit of at least $15 within 90 days of the certificate issue date

CD Rates & CD Yields Navy Federal Credit Union

CD Rates and CD Yields Deposit of $1,000 to $2,500

  • 6 Months 0.70 CD Rates . 0.70% CD Yield
  • 1 Year 0.95% CD Rates 0.95% CD Yield
  • 2 Years 1.29% CD Rates 1.30% CD Yield
  • 3 Years 1.64% CD Rates 1.65% CD Yield
  • 4 Years 1.93% CD Rates 1.05% CD Yield
  • 5 Years 2.27% CD Rates 2.30% CD Yield
  • 7 Years 2.86% CD Rates 2.90% CD Yield

CD Rates and CD Yields Deposit of $10,000 to $20,000

  • 6 Months 0.80% CD Rate 0.80% CD Yields
  • 9 Months 0.90% CD Rate 0.90% CD Yields
  • 1 Year 1.04% CD Rate 1.05% CD Yields
  • 18 Months 1.24% CD Rate 1.25% CD Yields
  • 2 Years 1.39% CD Rate 1.40% CD Yields
  • 3 Years 1.73% CD Rate 1.75% CD Yields
  • 4 Years 2.03% CD Rate 2.05% CD Yields
  • 5 Years 2.37% CD Rate 2.40% CD Yields
  • 7 Years 2.96% CD Rate 3.00% CD Yields

Jumbo CD rates and Jumbo CD Yields Minimum Deposit $100,000

  • 6 To 11 Months 0.95% Jumbo CD Rates 0.95% Jumbo CD Yields
  • 12 To 23 Months 1.14% Jumbo CD Rates 1.15% Jumbo CD Yields
  • 24 To 35 Months 1.49% Jumbo CD Rates 1.50% Jumbo CD Yields
  • 36 To 59 Months 1.83% Jumbo CD Rates 1.85% Jumbo CD Yields
  • 60 To 84 Months 2.47% Jumbo CD Rates 2.50% Jumbo CD Yields
Author: Stacy Everest
December 20th, 2010

California Credit Union, headquartered in Glendale, California, is advertising some very competitive credit union CD rates. California Credit Union’s CD interest rates are competitive with any California credit union or California bank. California Credit Union is advertising regular share CD rates, IRA CD rates, regular jumbo CD rates, IRA CD rates, super jumbo CD rates and super jumbo IRA CD rates.

Each type of certificate of deposit is available in three flavors, Flex Saver, Elite Saver and Super Saver.  California Credit Union’s CD interest rates are tiered for both regular CD rates and IRA CD rates and are based on the account balance. The higher the account balance the higher the CD rates.

California Credit Union Share CD Rates & IRA CD Rates – Deposits of $1,000 to $99,999.

  • Flex Saver Certificate – 3-month 0.20% Rate 0.20% APY
  • Flex Saver Certificate – 6-month 0.25% Rate 0.25% APY
  • Elite Saver Certificate – 12-month 0.40% Rate 0.40% APY
  • Super Saver Certificate – 18-month 0.55% Rate 0.55% APY
  • Super Saver Certificate – 24-month 0.70% Rate 0.70% APY
  • Max Saver Certificate – 36-month 1.04% Rate 1.04% APY
  • Max Saver Certificate – 60-month 1.93% Rate 1.95% APY

California Credit Union Share Jumbo CD Rates & IRA Jumbo CD Rates – Deposits of $100,000 to $249,999.

  • Flex Saver Certificate – 3-month 0.25% Rate 0.25% APY
  • Flex Saver Certificate – 6-month 0.30% Rate 0.30% APY
  • Elite Saver Certificate – 12-month 0.45% Rate 0.45% APY
  • Super Saver Certificate – 18-month 0.60% Rate 0.60% APY
  • Super Saver Certificate – 24-month 0.75% Rate 0.75% APY
  • Max Saver Certificate – 36-month 1.09% Rate 1.10% APY
  • Max Saver Certificate – 60-month 1.98% Rate 2.00% APY

California Credit Union Share Super Jumbo CD Rates & IRA Super Jumbo CD Rates – Deposits of $250,000 minimum.

  • Flex Saver Certificate – 3-month 0.30% Rate 0.30% APY
  • Flex Saver Certificate – 6-month 0.35% Rate 0.35% APY
  • Elite Saver Certificate – 12-month 0.50% Rate 0.50% APY
  • Super Saver Certificate – 18-month 0.65% Rate 0.65% APY
  • Super Saver Certificate – 24-month 0.80% Rate 0.80% APY
  • Max Saver Certificate – 36-month 1.14% Rate 1.15% APY
  • Max Saver Certificate – 60-month 2.03% Rate 2.05% APY

In addition to CD rates California Credit Union is also advertising savings account rates and money market account rates. If you’re in the market for a home loan California Credit Union also advertises mortgage rates, auto loan rates, credit card rtaes and personal loan rates.

California Credit Union Branch Locations and Branch Hours

Glendale (Main branch)
701 N. Brand Boulevard (Brand & 134 Freeway)
Glendale, CA 91203
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm
 

Beaudry (LAUSD Headquarters)
333 South Beaudry Avenue, Ste. 215
(Beaudry & 3rd)
Los Angeles, CA 90017
Monday – Thursday 9am – 5pm
Friday 9am – 6pm

Carson
633 E. University Drive, Ste. A
(Avalon & 189th)
Carson, CA 90746
Monday – Thursday 9am – 5pm
Friday 9am – 6 pm
Saturday 9am – 1pm

Covina
800 S. Barranca Avenue, Ste. 110
(Barranca & 10 Freeway)
Covina, CA 91723
Monday – Thursday 9am – 5pm
Friday 9am – 6 pm
Saturday 9am – 1pm

Downey (LACOE)
9300 East Imperial Highway
(Imperial & Bellflower)
Downey, CA 90242
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
No Saturday hours

Inglewood
2852 Imperial Highway
(Imperial & Crenshaw)
Inglewood, CA 90303
Monday – Thursday 9am – 5pm
Friday 9am – 6 pm
Saturday 9am – 1pm

North Hollywood
11331 Camarillo Street, Ste. B
(Camarillo & Tujunga)
North Hollywood, CA 91602
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

North Hills
9026 Woodley Avenue
(Woodley & Nordhoff)
North Hills, CA 91343
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Pasadena
95 South Lake Avenue
(Lake & Green)
Pasadena, CA 91101
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Rosenell Terrace
420 North Rosenell Terrace
(Temple & Alvarado)
Los Angeles, CA 90026
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Torrance
22733 Hawthorne Boulevard
(Hawthorne & 227th Street)
Torrance, CA 90505
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Valencia
23626 Valencia Boulevard, Ste. H
(Valencia & Creekside)
Santa Clarita, CA 91355
Monday – Thursday 9am – 5pm
Friday 9am – 6 pm
Saturday 9am – 1pm

West Los Angeles
2215 Westwood Boulevard
(Olympic & Westwood)
Los Angeles, CA 90064
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Woodland Hills
6037 Topanga Canyon Boulevard
(Topanga Canyon + Oxnard)
Woodland Hills, CA 91367
Monday – Thursday 9am – 5pm
Friday 9am – 6pm
Saturday 9am – 1pm

Author: Stacy Everest
December 10th, 2010

EverBank, headquartered in Jacksonville, Florida, is advertising some very competitive bank CD rates available from any bank or credit union in Florida. Everbank is advertising three different certificates of deposit including their Yield Pledge Certificates of Deposit, CDARS Certificates of Deposit and MarketSafe Certificates of Deposit.  All three types of certificates of deposit have some of the best CD rates currently available.

EverBank Yield Pledge High Yield CD Rates

The Yield Pledge high yield certificates of deposit are regular bank certificates of deposit. Certificate of deposit terms range between 3 months and 60 months. The minimum opening deposit for a Yield Pledge high yield certificate of deposit is $1,500.

EverBank Current Yield Pledge CD Rates and CD Yields

  • 3 Month CD Rates 0.51% CD Yields 0.51%
  • 6 Month CD Rates 0.75% CD Yields 0.75%
  • 9 Month CD Rates 0.75% CD Yields 0.75%
  • 1 Year CD Rates 1.00% CD Yields 1.01%
  • 18 Month CD Rates 1.01% CD Yields 1.02%
  • 2 Year CD Rates 1.29% CD Yields 1.30%
  • 30 Month CD Rates 1.49% CD Yields 1.50%
  • 3 Year CD Rates 1.49% CD Yields 1.50%
  • 4 Year CD Rates 1.65% CD Yields 1.66%
  • 5 Year CD Rates 2.24% CD Yields 2.27%

The Certificate of Deposit Account Registry Service (CDARS) is a service allows consumers to receive up to $50 million of FDIC insurance protection on their certificates of deposit investments. EverBank is a member CDARS network bank. The minimum opening deposit for a CDARS CD at EverBank is $10,000.

EverBank CDARS CD Rates & CD Yields

  • 3 Month CD Rates 0.15% CD Yields 0.15%
  • 6 Month CD Rates 0.30% CD Yields 0.30%
  • 1 Year CD Rates 0.67% CD Yields 0.67%
  • 2 Year CD Rates 0.79% CD Yields 0.79%
  • 3 Year CD Rates 1.09% CD Yields 1.10%

Everbank also offers two other types of certificates of deposit. You can find out more about the bank’s MarketSafe certificates and the Currency certificates at everbank.com

Author: Stacy Everest
December 1st, 2010

Credit Union of Ohio based in Hilliard, Ohio, is advertising some very competitive CD rates available from any bank or credit union in Ohio. Credit Union of Ohio is advertising regular CD rates and Individual Retirement Account (IRA) CD rates. Credit Union of Ohio is also advertising two other types of CD interest rates, Educational Growth CD rates and Bump-Up CD rates.

Credit Union of Ohio Educational Growth CD Rate & CD Yeild

The Educational Growth certificate of deposit is designed for kids. The certificate of deposit matures on the child’s 18th birth date. Right now the Educational Growth CD rate is one of the highest CD rates available. The current dividend CD rate is 3.50 percent with a CD yield of 3.55 percent. Again, that is one of the best CD rates and best CD yields available from any bank or credit union.

The CD dividend interest rate on the Educational Growth certificate of deposit is tied to “The Wall Street Journal Prime” rate published of course by The Wall Street Journal. The calculation for the CD rate is Prime minus 2.95%.  The APY will never go below 3.50% APY and will not exceed 8.50% APY.

Credit Union of Ohio Bump Up CD Rate & CD Yeild 

Credit Union of Ohio’s Bump Up CD allows you to increase the CD rate to the prevailing interest rate at the time you “Bump Up” the CD rate. The current Bump Up CD rate is for 1.49 percent with a CD yield of 1.50 percent for a 20 month certificate of deposit and 30 month certificate of deposit.

Exercising your bump-up option means the CD interest rate will adjust to the current CD rate at the time you exercise the option. The maximum CD interest rate adjustment of 100 basis points, 1.00 percent.  The new credit union CD rate will carry forward from the date you exercise the bump-up option and is not retroactive.The minimum balance required to open a Bump Up Certificate is $5,000 or $10,000.

Credit Union CD Rates/IRA CD Rates & CD Yields/IRA CD Yields

  • 3 month CD Rates 0.55 % APY 0.55%
  • 6 month CD Interest Rates 0.65% APY 0.65%
  • 12 month Bank CD Rate 0.85% APY 0.85%
  • 18 month CD Rate 1.15% APY 1.15%
  • 24 month Bank CD Rate 1.49% APY 1.50%
  • 36 month CD Interest Rate 1.74% APY 1.75%
  • 48 month CD Rate Bank 2.23% APY 2.25%
  • 60 month CD Rate Banks 2.48% APY 1.50%

Credit Union of Ohio has several branches in Ohio including in Columbus and Grove City.

Author: Monica Harris
November 29th, 2010

Costco, the largest membership warehouse club chain and Capital One Direct, the banking arm of the credit card company Capital One, are advertising regular CD rates and jumbo CD rates for Costco members. There is a wide range of certificate of deposit terms. Certificates of deposits range 18 months to 10 years for both regular certificates and jumbo certificates. Regular certificate of deposit accounts have a minimum opening deposit of $5,000. Jumbo certificate of deposit accounts have a minimum opening balance of $100,000.

Bank CD rates and credit union CD rates are so low right now we wouldn’t recommend locking into a long term CD at these low rates. Right now it’s better to stick to shorter term certificates of deposit so you can take advantage of rising CD interest rates when they finally do start going higher.

Costco and Capital One Direct Bank are also advertising a Costco Member Incentive for opening a certificate of deposit account. By opening a Capital One Direct Banking account of any kind through Costco and depositing at least $5000 within 30 days of opening the account, you’ll receive $60 if you’re a Costco Executive Member or $20 if you’re a Gold Star or Business Member.

Costco Capital One Bank CD Rates & CD Yields

Regular CD Rates and Regular CD Yields

  • 18 months CD Rate 0.80% APY 0.80%
  • 2 years CD Rate 0.80% APY 0.80%
  • 30 months CD Rate 0.80% APY 0.80%
  • 3 years CD Rate 1.14% APY 1.15%
  • 4 years CD Rate 1.29% APY 1.30%
  • 5 years CD Rate 1.78% APY 1.80%
  • 7 years CD Rate 2.32% APY 2.35%
  • 10 years CD Rate 3.00% APY 3.05%

Jumbo CD Rates and Jumbo CD Yields

  • 18 months CD Rate 0.80% APY 0.80%
  • 2 years CD Rate 0.80% APY 0.80%
  • 30 months CD Rate 0.80% APY 0.80%
  • 3 years CD Rate 1.14% APY 1.15%
  • 4 years CD Rate 1.29% APY 1.30%
  • 5 years CD Rate 1.78% APY 1.80%
  • 7 years CD Rate 2.32% APY 2.35%
  • 10 years CD Rate 3.00% APY 3.05%

In addition to advertising CD rates Costco and Capital One Bank are also advertising a money market account rate, a business money market account rate and a savings account rate for Costco members.

Author: Stacy Everest
November 27th, 2010

California First National Bank ( Cal First) headquartered in Irvine, California is offering some very competitive bank CD rates. Cal First National Bank’s CD interest rates are some of the highest CD rates available from any credit union or bank in California. Cal First National Bank is advertising regular certificates of deposit and IRA certificates of deposit with terms ranging between 3 months and 36 months.  The minimum opening deposit for regular certificates of deposit is $5,000. IRA certificates of deposit have a $2,000 minimum opening deposit.

California First National Bank is also advertising a savings account, a money market checking account and an interest checking account. The bank is also offering the same banking products for commerical accounts, also known as business accounts. The current interest rates on the personal accounts is the same as the commerical accounts.

California First National Bank CD Rates & CD Yields

  • 3 Month CD Rates 0.80% CD Yields 0.80% 
  • 6 Month CD Rates 1.00% CD Yields 1.00% 
  • 1 Year CD Rates 1.05% CD Yields 1.06% 
  • 2 Year CD Rates 1.39% CD Yields 1.40% 
  • 3 Year CD Rates 1.79% CD Yields 1.80%

CalFirst Bank is backed by the financial strength of its parent company, California First National Bancorp (NASDAQ: CFNB).

Author: Robert Till
November 25th, 2010

Bank of Arizona is offering some very competitive CD rates and IRA CD rates from any bank or credit union in Arizona. Bank of Arizona is advertising fixed CD interest rates with terms ranging between 7 days and 7 years, jumbo CD rates with terms ranging between 7 days and 7 years and IRA Advertised IRA CD interest rates range from 6 months to 7 years. Bank of Arizona is also advertising checking account rates, money market account rates and a savings account rate.

Bank of Arizona’s best deposit rate naturally is on their 7 year jumbo certificate of deposit. The current 7 year jumbo CD rate is 1.94 percent with a jumbo CD yield of 1.95 percent.

There are several Bank of Arizona locations throughout Arizona and a Bank of Arizona Mortgage Lending Office in Tucson, AZ.

Bank of Arizona CD Rates & CD Yields

  • 7 Days 0.05% CD Rate 0.05% CD Yield
  • 30 Days 0.05% CD Rate 0.05% CD Yield
  • 60 Days 0.15% CD Rate 0.15% CD Yield
  • 90 Days 0.20% CD Rate 0.20% CD Yield
  • 120 Days 0.20% CD Rate 0.20% CD Yield
  • 180 Days 0.30% CD Rate 0.30% CD Yield
  • 270 Days 0.35% CD Rate 0.35% CD Yield
  • 1 Year 0.35% CD Rate 0.35% CD Yield
  • 18 Months 0.50% CD Rate 0.50% CD Yield
  • 2 Years 0.60% CD Rate 0.60% CD Yield
  • 3 Years 0.85% CD Rate 0.85% CD Yield
  • 4 Years 1.15% CD Rate 1.15% CD Yield
  • 5 Years 1.34% CD Rate 1.35% CD Yield
  • 7 Years 1.89% CD Rate 1.90% CD Yield

Bank of Arizona IRA CD Rates & IRA CD Yields

  • 6 Month 0.30% CD Rate 0.30% CD Yields
  • 1 Year 0.35% CD Rate 0.35% CD Yields
  • 18 Month 0.50% CD Rate 0.50% CD Yields
  • 2 Years 0.60% CD Rate 0.60% CD Yields
  • 30 Month 0.60% CD Rate 0.60% CD Yields
  • 3 Years 0.85% CD Rate 0.85% CD Yields
  • 4 Years 1.14% CD Rate 1.15% CD Yields
  • 5 Years 1.34% CD Rate 1.35% CD Yields
  • 7 Years 1.88% CD Rate 1.90% CD Yields

Bank of Arizona Jumbo CD Rates and Jumbo CD Yields

  • 7 Days 0.10% CD Rate 0.10% CD Yield
  • 30 Days 0.10% CD Rate 0.10% CD Yield
  • 60 Days 0.20% CD Rate 0.20% CD Yield
  • 90 Days 0.25% CD Rate 0.25% CD Yield
  • 120 Days 0.25% CD Rate 0.25% CD Yield
  • 180 Days 0.35% CD Rate 0.35% CD Yield
  • 270 Days 0.40% CD Rate 0.40% CD Yield
  • 1 Year 0.40% CD Rate 0.40% CD Yield
  • 18 Months 0.55% CD Rate 0.55% CD Yield
  • 2 Years 0.65% CD Rate 0.65% CD Yield
  • 3 Years 0.90% CD Rate 0.90% CD Yield
  • 4 Years 1.20% CD Rate 1.20% CD Yield
  • 5 Years 1.39% CD Rate 1.40% CD Yield
  • 7 Years 1.94% CD Rate 1.95% CD Yield

Bank of Arizona Locations

Mesa 
Mesa Riverview
901 N. Dobson Rd.
Mesa, AZ 85201
(480) 835-3040

Hours of Operation:
Branch Hours
9:00 a.m. – 4:00 p.m. Monday – Thursday
9:00 a.m. – 6:00 p.m. Friday

Drive-thru Hours
9:00 a.m. – 6:00 p.m. Monday – Friday
9:00 a.m. – 1:00 p.m. Saturday
 
Phoenix 
Commercial Real Estate Lending Office
24th & Camelback
2398 E. Camelback Rd., Ste 535
Phoenix, AZ 85016
(602) 808-5367

Monday – Friday 8:00 a.m. – 5:00 p.m.
  
24th & Camelback – Headquarters
(No Depository Services)
2398 E. Camelback Rd., Ste. 535
Phoenix, AZ 85016
(602) 808-5349

Monday – Friday 8:00 a.m. – 5:00 p.m.
 
 
44th & Camelback Rd.
5050 N. 44th St.
Phoenix, AZ 85018
(602) 840-5550

Branch Hours Lobby & Drive In
9:00 a.m. – 4:00 p.m. Monday – Friday
Or by appointment
 
Mortgage Lending
44th & Camelback
5050 N. 44th St.
Phoenix, AZ 85018
(602) 508-3602

9:00 a.m. – 4:00 p.m. Monday – Friday
Or by appointment
 
West Valley
Camelback Rd. & Loop 101
9545 W. Camelback Rd.
Phoenix, AZ 85037
(623) 872-3200

Hours of Operation:
Branch Hours
9:00 a.m. – 4:00 p.m. Monday – Thursday
9:00 a.m. – 6:00 p.m. Friday

Drive-thru Hours
9:00 a.m. – 6:00 p.m. Monday – Friday
9:00 a.m. – 1:00 p.m. Saturday
 
Scottsdale 
Scottsdale & Mayo Blvd
7000 E. Mayo Blvd., #22
Phoenix, AZ 85054
(480) 991-6966

Hours of Operation:
Branch Hours
9:00 a.m. – 4:00 p.m. Monday – Thursday
9:00 a.m. – 6:00 p.m. Friday

Drive-thru Hours
9:00 a.m. – 6:00 p.m. Monday – Friday
9:00 a.m. – 1:00 p.m. Saturday

 
The Private Bank
7047 E. Greenway Pkwy., Ste. 360
Scottsdale, AZ 85254
(480)596-4346

8:00 a.m. – 5:00 p.m. Monday – Friday
Or by Appointment

 
Tucson 
Commercial Real Estate Lending Office
3430 E. Sunrise Dr., Ste. 190
Tucson, AZ 85718
(520) 318-6480

Monday – Friday 8:00 a.m. – 5:00 p.m.

 
Mortgage Lending Office
3430 E. Sunrise Dr., Ste. 190
Tucson, AZ 85718
(520) 318-6480

Monday – Friday 9:00 a.m. – 4:00 p.m.
Or by Appointment

Author: Monica Harris
November 23rd, 2010

A small New York City bank, Eastbank, has some of the best CD rates available from any bank or credit union in New York City. Eastbank only has two locations in NYC, one in the heart of Chinatown and the other in Flushing, NY.

Eastbank is advertising certificates of deposit with terms ranging between 3 months and 5 years. The minimum opening certificate of deposit balance at Eastbank is $2,5000.

East Bank’s highest CD interest rate is on the bank’s 60 month certificate of deposit. The current 60 month CD rate is 2.47 percent with a CD yield of 2.50 percent. Again, that bank CD rate beats most other bank CD rates in NYC and across the county.

Eastbank CD Rates & CD Yields

3 Month CD Rates 0.75% CD Yields 0.75%
6 Month CD Rates 1.00% CD Yields 1.01%
12 Month CD Rates 1.17% CD Yields 1.18%
24 Month CD Rates 1.73% CD Yields 1.75%
30 Month CD Rates 1.98% CD Yields 2.00%
60 Month CD Rates 2.47% CD Yields 2.50%

Eastbank Branch Locations

Manhattan Branch

183 Centre Street, New York, NY 10013

Tel : (212) 219-9000 Fax : (212) 219-9208
Flushing Branch

136-81 Roosevelt Avenue

Flushing, NY 11354

Tel : (718) 353-8000 Fax: (718) 353-8678

 

Author: James Martin
November 22nd, 2010

Framingham Municipal Federal Credit Union, of Framingham, MA, is advertising some of the highest CD rates available from any credit union or bank in Massachusetts. two Special CD rates that currently have some of the best CD rates available. 

 Municipal Federal Credit Union is also advertising two Certificate Specials. The credit union CD rates on the Special Certificates are tiered and are even better than the credit union’s regular CD rates.

Framingham Municipal Federal Credit Union Special CD Rates & CD Yields

  • 9 Month CD Rates 1.00% CD Yields 1.01% Minimum Balance $5,000.00
  • 9 Month CD Rates 1.10% CD Yields 1.11% Minimum Balance $10,000.00
  • 9 Month CD Rates 1.25% CD Yields 1.26% Minimum Balance $50,000.00
  • 15 Month CD Rates 1.25% CD Yields 1.26% Minimum Balance $5,000.00
  • 15 Month CD Rates 1.35% CD Yields 1.36% Minimum Balance $10,000.00
  • 15 Month CD Rates 1.45% CD Yields 1.46% Minimum Balance $50,000.00

Framingham Municipal Federal Credit Union CD Rates & CD Yields

  • 3 Month CD Rates 0.50% CD Yields 0.50% At Maturity
  • 3 Month CD Rates 0.50% CD Yields 0.51% Monthly Paid
  • 6 Month CD Rates 0.90% CD Yields 0.90% At Maturity
  • 6 Month CD Rates 0.90% CD Yields 0.91% Monthly Paid
  • 12 Month CD Rates 1.15% CD Yields 1.15% At Maturity
  • 12 Month CD Rates 1.15% CD Yields 1.16% Monthly Paid
  • 18 Month CD Rates 1.25% CD Yields 1.25% At Maturity
  • 18 Month CD Rates 1.25% CD Yields 1.26% Monthly Paid
  • 24 Month CD Rates 1.50% CD Yields 1.50% At Maturity
  • 24 Month CD Rates 1.50% CD Yields 1.51% Monthly Paid

Framingham Municipal Federal Credit Union Locations

Framingham Branch
200 Concord Street, Framingham, MA 01702
Phone: (508) 879-5522
Fax: (508) 879-9676
Branch Hours: Monday – Friday 8:30 AM – 4:45 PM

Natick Branch
21 Watson Street, Natick MA 01760
Phone: (508) 653-8970 Fax: (508) 655-3546
Branch Hours: Monday – Friday 8:30 AM – 4:45 PM

Author: James Martin
November 17th, 2010

Freddie Mac recently released a report the the economic outlook. Freddie Mac is a government sponsored entity (GSE) that buys mortgages from originators. Freddie Mac also releases a weekly mortgage survey called the Primary Mortgage Market Survey. In the most recent survey long term mortgage rates hit new record lows.

There’s no need to choose whether the economic glass is half full or half empty; it’s both.  For those who see things half full:

  • Momentum has turned back up in the labor market, with October payrolls rising 151,000, more than twice the consensus forecast, and private employment posting an increase of 159,000, its second-largest gain since March 2007 and tenth consecutive monthly pickup.
  • Manufacturing production is accelerating again after a summer slowdown. The ISM survey rose in October to 56.9, the strongest since May.  All the main components—new orders, production, and employment—improved.
  • Consumer spending has been resilient, with a 2.6 percent annual growth rate in the third quarter.  Spending has picked up speed for the past three quarters despite high unemployment, and the recent quarterly growth rate was the most rapid since 2006. 
    For those who see things half empty:
  • The housing market is still struggling to regain its footing, and the delays, costs and unforeseen collateral damage from the foreclosure documentation troubles could postpone recovery, or worse.
  • A slowdown in other major economies could be as much a threat to the outlook as any domestically brewed troubles.  Recent sniping over currency valuations hints of retaliation, possibly leading to a trade war.
  • The October jobs report was tepid and hardly cause for celebration.  Job growth is barely fast enough to keep up with a growing population, and will need to pick up a lot more to bring down the unemployment rate.  The number of long-term unemployed (i.e., those out of work for more than six months) remains far above historical norms, even though it has declined more than 8 percent since last spring.

Both points of view are correct.  There has been a spate of good news in recent weeks that suggests the fears earlier in the year about a so-called “double dip” recession were overblown.  The recovery, though, remains too sluggish to do much good right now for the unemployment rate or the housing market. 

This “half full-half empty” view of the economy can help explain the Federal Reserve’s recent announcement of plans to purchase $600 billion of Treasury securities.  The FOMC statement earlier this month noted that they anticipate the economy will continue its “gradual” recovery, but that progress to date “has been disappointingly slow.”  William C. Dudley, president of the Federal Reserve Bank of New York, provided further insights into the Fed’s views on the economy and the outlook in a speech on October 1st.  He highlighted several forces contributing to recent slow growth: 

(1)  Deleveraging as households pay down debts;

(2)  Business reluctance to hire, which has limited income growth and consumer spending; and

(3) Caution in the face of economic uncertainty that has reinforced a tentative growth in spending. 

Mr. Dudley noted that it is quite common for early stages of an economic expansion to encounter a “soft patch”, but he continued that slow growth may persist somewhat longer because “the deleveraging process is not yet complete” (for those keeping track, there’s another “half empty” reference).  He continued, though, with the “half full” observation that the adjustment process had made “significant progress” in terms of reduced debt-to-income ratios and a partial recovery in household net worth. 

We have not made any changes to our outlook for real GDP, which still expects sub-par growth over the near term, followed by a slow acceleration over 2011.  The sluggish nature of the recovery means the unemployment rate will likely remain at or above 9 percent through much or all of next year, with a decline in unemployment only gradually providing relief to the housing market. 

The October employment report showed signs that an upturn in hiring may be underway, though, and mortgage rates at record lows are still helping the housing market recovery.  For an economy thirsty for good news, these “half full” signs indicate the recovery continues to move forward.

Author: James Martin
November 16th, 2010

Fifth Third Bank (53.com) with their main offices in Cincinnati, Ohio,  is advertising their standard CD interest rates and their featured CD interest rates. Fifth Third Bank’s standard CD rates are tiered based on the deposit amount. The minimum opening deposit is $500. Fifth Third Bank’s featured certificates of deposit have a minimum opening deposit of $5,0000.

In addition to CD rates Fifth Third Bank is also advertising several different types of savings account rates. Savings accounts include Fifth Third Relationship Savings, Fifth Third Goal Setter Savings, Fifth Third Safe Saver, Minor Savings, Fifth Third High Yield Savings and Fifth Third Money Market Savings.

Fifth Third Bank doesn’t have the best CD rates available but there CD rates are competitive in this low interest rate environment. Right now the bank’s featured CD rates are currently higher than their standard CD rates. Another good thing about Fifth Third Bank’s certificates of deposit is you can pretty much select the CD term you want. CD terms are available from 7 days to 84 months.

 Fifth Third Bank Standard CD Rates and CD Yields

CD Accounts Less than $5,000

  • 7 to 89 Day CD  
    Interest Rate: N/A
    APY: N/A
  • 3 to 6 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 6 to 12 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 12 to 24 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 24 to 36 Month CD  
    Interest Rate: 0.30%
    APY: 0.30%
  • 36 to 48 Month CD  
    Interest Rate: 0.45%
    APY: 0.45%
  • 48 to 60 Month CD  
    Interest Rate: 0.60%
    APY: 0.60%
  • 60 to 84 Month CD  
    Interest Rate: 0.75%
    APY: 0.75%
  • 84 Month CD  
    Interest Rate: 1.00%
    APY: 1.00%

CD Accounts $5,000 to $9,999

  • 7 to 89 Day CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 3 to 6 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 6 to 12 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 12 to 24 Month CD  
    Interest Rate: 0.10%
    APY: 0.10%
  • 24 to 36 Month CD  
    Interest Rate: 0.35%
    APY: 0.35%
  • 36 to 48 Month CD  
    Interest Rate: 0.50%
    APY: 0.50%
  • 48 to 60 Month CD  
    Interest Rate: 0.65%
    APY: 0.65%
  • 60 to 84 Month CD  
    Interest Rate: 0.80%
    APY: 0.80%
  • 84 Month CD  
    Interest Rate: 1.04%
    APY: 1.05%

CD Accounts $10,000 to $24,999

  • 7 to 89 Day CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 3 to 6 Month CD  
    Interest Rate: 0.05%
    APY: 0.05%
  • 6 to 12 Month CD  
    Interest Rate: 0.10%
    APY: 0.10%
  • 12 to 24 Month CD  
    Interest Rate: 0.15%
    APY: 0.15%
  • 24 to 36 Month CD  
    Interest Rate: 0.40%
    APY: 0.40%
  • 36 to 48 Month CD  
    Interest Rate: 0.55%
    APY: 0.55%
  • 48 to 60 Month CD  
    Interest Rate: 0.70%
    APY: 0.70%
  • 60 to 84 Month CD  
    Interest Rate: 0.85%
    APY: 0.85%
  • 84 Month CD  
    Interest Rate: 1.09%
    APY: 1.10%

CD Accounts $25,000 to $49,999

  • 7 to 89 Day CD  
    Interest Rate: 0.10%
    APY: 0.10%
  • 3 to 6 Month CD  
    Interest Rate: 0.10%
    APY: 0.10%
  • 6 to 12 Month CD  
    Interest Rate: 0.15%
    APY: 0.15%
  • 12 to 24 Month CD  
    Interest Rate: 0.20%
    APY: 0.20%
  • 24 to 36 Month CD  
    Interest Rate: 0.45%
    APY: 0.45%
  • 36 to 48 Month CD  
    Interest Rate: 0.60%
    APY: 0.60%
  • 48 to 60 Month CD  
    Interest Rate: 0.75%
    APY: 0.75%
  • 60 to 84 Month CD  
    Interest Rate: 0.90%
    APY: 0.90%
  • 84 Month CD  
    Interest Rate: 1.14%
    APY: 1.15%

CD Accounts $50,000 to $99,999

  • 7 to 89 Day CD  
    Interest Rate: 0.15%
    APY: 0.15%
  • 3 to 6 Month CD  
    Interest Rate: 0.15%
    APY: 0.15%
  • 6 to 12 Month CD  
    Interest Rate: 0.20%
    APY: 0.20%
  • 12 to 24 Month CD  
    Interest Rate: 0.25%
    APY: 0.25%
  • 24 to 36 Month CD  
    Interest Rate: 0.50%
    APY: 0.50%
  • 36 to 48 Month CD  
    Interest Rate: 0.65%
    APY: 0.65%
  • 48 to 60 Month CD  
    Interest Rate: 0.80%
    APY: 0.80%
  • 60 to 84 Month CD  
    Interest Rate: 0.95%
    APY: 0.95%
  • 84 Month CD  
    Interest Rate: 1.19%
    APY: 1.20%

Fifth Third Bank Featured CD Rates and CD Yields

  • 8 Month Promo CD Rates 0.30% CD Yield 0.30%
  • 18 Mo