CD rates are higher this week, the second consecutive week rates are higher. The increase in bank CD rates this week wasn’t as much as last week’s big jump in rates. Competition for depositors must be heating up between banks and credit unions.

Banks that have paid back money they borrowed from the Troubled Asset Relief Program (TARP) must be partly fueling the increase in CD rates to shore up their cash reserves.

Find the highest CD rates available by seraching our CD rate tables here. CD Rate Tables

Current CD Rates

The national average certificate of deposit rate for a one-year CD increased to 1.461 percent this week, up from the prior week’s average CD rate of 1.458 percent. Almost two weeks ago one-year certificate of deposit rates were averaging 1.234 percent.

3-month certificate of deposit rates are averaging 0.720 percent this week, up from the prior week’s average rate of 0.716 percent. On September 1, 3-month CD rates were averaging 0.666 percent.

The average certificate of deposit rate for a 6-month CD is currently at 1.058 percent, a slight increase from last week’s average CD rate of 1.057 percent. Two weeks ago 6-month CD rates were under 1.00 percent at 0.950 percent.

18-month certificate of deposit rates are averaging 1.642 percent, up from the previous week’s average CD rate of 1.606 percent. The low for a 18-month CD in the beginging of September was 1.390 percent.

The average certificate of deposit rate for a 2-year CD is 1.901 percent, up from last week’s average CD rate of 1.874 percent. Two weeks ago the national average 2-year CD rate was 1.672 percent.

3-year certificate of deposit rates are up to 2.229 percent this week, an increase from last week’s average rate of 2.241 percent and up from the recent low of 1.967 percent.

The national average certificate of deposit rate for a 4-year CD is at 2.452 percent this week, up from the prior week’s average CD rate of 2.391 percent. The September 1st low was 2.187 percent.

5-year certificate of deposit rates are averaging 2.772 percent this week, up from last week’s average rate of 2.676 percent, also up from the recent low of 2.445 percent.