Certificate of deposit rates are down again this week with the exception of  18 month and 36 month certificate of deposit rates. 18 month CD rates increased to 1.225 percent, up from the last week’s average rate of 1.091 percent. 36 month CD interest rates are up to 1.902 percent, an increase from last week’s average rate of 1.650 percent.

Looking for certificate of deposit rates? Use our rate tables to find the CD rates in your area. cdrates.monitorbankrates.com

Certificate of Deposit Rates

• The average 3 month certificate of deposit rate is at 0.482 percent this week, unchanged from the prior week’s average CD rate.
• The average 6 month CD rate is at 0.768 percent, unchanged from last week’s average rate.
• The average 12 month CD rate at banks is at 1.034 percent, a decrease from last week’s average interest rate of 1.041 percent.
• The average rate on 18 month certificates of deposit is currently at 1.225 percent, an increase from the prior week’s average interest rate of 1.091 percent.
• The average 24 month CD interest rate is at 1.482 percent this week, a decrease from last week’s national average rate of 1.485 percent.
• The average rate on 36 month certifciates of deposit is at 1.902 percent, an increase from last week’s average of 1.650 percent.
• The average 48 month CD rate is at 2.087  percent this week, up from last week’s average rate of 2.094 percent.
• The average 60 month certificate of deposit rate is at 2.396 percent, down from the previous week’s average of 2.399 percent.

Find the best CD rates right here at MonitorBankRates.com: http://cdrates.monitorbankrates.com.

Here is a list of the top 10 12 month CD rates our rate tables as of March 11, 2010:

1. Tennessee Commerce Bank 1.70% APY Min $2500     
2. Discover Bank 1.60% APY Min $2500    
3. Ally Bank 1.58% APY Min $ 1 1.58%    
4. AIG Bank 1.56% APY Min $2500     
5. American Express Bank FSB 1.50% APY Min $0    
6. Bay Ridge Federal Credit Union 1.50% APY Min $500     
7. Bogota Savings Bank 1.50% APY Min $1000    
8. Boiling Springs Savings Bank 1.50% APY Min $1000      
9. Kearney Federal Savings Bank 1.50% APY Min $500     
10. Manasquan Saving Bank 1.50% APY Min $500

Search for the best CD rates in your area: CDRates.MonitorBankRates.com

Alabama Credit Union is advertising some of the best certificate of deposit rates available. Right now the best CD rate and yield offered by Alabama Credit Union is on their 7 months certificate of deposit. The current CD rate is 1.50%. The minimum opening deposit is $5,000.

You will have to join Alabama Credit Union to open a certificate of deposit account.  When you join you will also have to open a savings account with a $25.00 deposit. There is also a $1.00 membership fee. More information on becoming a member here : Alabama Credit Union.

The credit union is advertising certificates of deposit and IRA certificates of deposit with terms ranging from 6 months to 5 years. All certificate of deposit accounts have a minimum opening deposit of $500 with the exception of the 7 months certificate.

Credit Union CD rates and CD yields:

• 6 months CD 1.25% rate 1.25% APY
• 7 months CD 1.50% rate 1.50% APY  $5,000 min
• 12 months CD 1.60% rate 161% APY
• 15 months CD 1.75% rate 1.76% APY
• 24 months CD 1.75% rate 1.76% APY
• 30 months CD 1.90% rate 1.91% APY
• 36 months CD 2.00% rate 2.02% APY
• 48 months CD 2.50% rate 2.52% APY
• 60months CD 2.75% rate 2.78% APY

All certificates of deposit are insured by the NCUA for up to $250,000. For more information on opening a certificate of deposit account visit Alabama Credit Union: Alabama Credit Union

Tennessee Commerce Bank of Franklin Tennessee is offering certificates of deposit with terms ranging from 3 months to 60 months. The bank’s CD rates are some of the best CD rates available.

The minimum opening certificate of deposit account balance is $2,500 for a regular CD. Jumbo certificate of deposit accounts require a higher opening balance.

Tennessee Commerce Bank CD Rates: 

• 3 Months  CD .40%  rate .40% APY
• 6 Months  CD  .75%  rate .75% APY
• 12 Months CD 1.69% rate 1.70% APY
• 18 Months  CD 1.79% rate 1.80% APY
• 24 Months CD 2.08% rate 2.10% APY
• 36 Months CD 2.37% rate  2.40% APY
• 48 Months CD 2.62% rate 2.65% APY
• 60 Months CD 2.86% rate 2.90% APY

All certificate of deposit accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000. For more information and current CD rates visit: TCB

EmigrantDirect.com, the online banking arm of Emigrant Bank based in New York, is offering certificates of deposit that are higher than the national average rates.

EmigrantDirect’s “My Way” certificates of deposit between 16 months and 40 months earn an APY of 1.50%. 5 year certificates of deposit to 10 year certificates of deposit earn an annual percentage yield (APY) of 2.50%. Certificates of deposit between 41 months to 59 months earn an APY of 2.00 percent. The minimum opening deposit for all certificates of deposit is $1,000.

CD accounts at EmigrantDirect are insured by the Federal Deposit Insurance protection for up to $250,000 per account. The bank also offers FDIC insurance protection for up to $1,250,000.

You can get $1.25 million in FDIC insurance coverage by opening up to five certificate of deposit accounts at their Regional Banks. For more information on EmigrantDirect.com CD accounts and savings accounts visit: EmigrantDirect.com.

Pentagon Federal Credit Union (PenFed) has some of the best certificate of deposit rates available these days. In fact, the certificate of deposit rates are some of the highest rates available from a credit union or bank.

Certificate of deposit accounts are insured for up to $250,000 by the National Credit Union Administration (NCUA) which is an independent federal agency that charters and supervises federal credit unions throughout the United States and its territories.

Current PenFed Certificate of Deposit Rates

• 6-Month CD 1.00% APY
• 1-Year CD 1.25% APY
• 2-Year CD 1.75% APY
• 3-Year CD 3.00% APY
• 4-Year CD 3.25% APY
• 5-Year CD 3.50% APY
• 7-Year CD 3.75% APY

To open a CD account with PenFed you have to join the credit union.

For more information on joining PenFed visit: PenFed How to Join.

OneWest Bank, formerly IndyMac Bank, is offering certificate of deposit rates that are very competitive for both short term and long term certificate of deposits.

OneWest Bank offers online certificates of deposit rates, regular bank branch CD rates and retirement CD Rates. Surprisingly, the branch 3 month and 6 month CD rates are currently higher than the comparable online CD rates.

The minimum deposit to open a CD account is $1,000. The rates and yields can change at anytime.

Online Certificates of Deposit

• 3 months CD .80% interest rate .80% APY
• 6 months CD 1.14% interest rate 1.15% APY
• 9 months CD 1.34% interest rate 1.35% APY
• 12 months CD 1.59% interest rate 1.60% APY
• 18 months CD 1.65% interest rate 1.66% APY
• 24 months CD 1.98% interest rate 2.00% APY
• 36 months CD 2.27% interest rate 2.30% APY
• 48 months CD 2.86% interest rate 2.90% APY
• 60 months CD 3.05% interest rate 3.10% APY

There are early withdrawal penalties based on the CD term. Certificate of deposit accounts are FDIC insured.

For more information on online rates, branch rates and IRA rates visit OneWest Bank here: OneWest Bank.

Sallie Mae, which provides federal and private student loans, has just started offering certificate of deposits and a savings account. Sallie Mae is currently offering three different certificate of deposit terms.

One year CD rates at Sallie Mae have a current rate of 1.49% with a 1.50% annual percentage yield (APY). Three year CD rates are currently at 2.18% with an APY of 2.20%. Five year CD rates are at 2.96% with an APY of 3.00%.

Looking for the best CD Rates? Search our CD rate tables: Best CD Rates

The CD rates and CD yields Sallie is offering are not the best CD rates around but they are higher than the national average rates.  The current national average 12 month CD rate is at 0.98%. 36 month CD rates are averaging 1.64%. 60 month CD rates are averaging 2.34%.

CD Account Information

Interest is compounded daily and credited to the account monthly for both certificate of deposit accounts and savings accounts. Early withdrawal penalties are 3 months of simple interest for certificate of deposit accounts 12 months or less. CD accounts greater than 12 months have an early withdrawal penalty of 6 months simple interest. Simple interest is interest earned on principal only.

Certificate of deposit accounts and savings accounts are insured by the FDIC. Sallie Mae’s FDIC Cert number is 58177.

Current Sallie Mae CD Rates: Sallie Mae CD Rates