National CD Rates on 12 Month Certificates of Deposit

The current national average 12 month CD rate is at 0.466% but you can find bank CD rates higher than the national average. Right now on our 12 month list of CD rates Discover Bank, Ally Bank and Aurora Bank top our list. Discover Bank is currently offering 1 year CD rates at 1.14% with a yield of 1.15%. Discover's 1 year CD rate is more than double the national average.



Right behind Discover on our list is Ally Bank and Aurora Bank. Both bank's are offering 1 year CD interest rates at 1.13% with a yield of 1.14%. Although Discover technically has the highest CD rate the bank also has the highest minimum opening deposit a t $2,500. If you have less than $2,500 to invest Aurora Bank' s minimum deposit is $1,000 and Ally Bank's minimum deposit is only $1.

You can search and compare CD rates in your state by using our CD rates table here: Compare CD Rates.

On the bottom of our list of 1 year rates are many big national banks. Wachovia Bank, Bank of America, Chase Bank, HSBC Advance and Citibank are offering rather pathetic rates. I guess they don't need deposits right now, maybe because these banks are lending money right now which is why the economy stinks and the unemployment rate is so high.

The worst rate is from Wachovia Bank at 0.05% for a 1 year CD. Bank of America has the second worst rate at 0.10%. Chase Bank and HSBC Advance are offering 0.20% while Citibank is offering 0.30%. With these rates you might as well stuff your money under the mattress or just spend it because you'll never keep up with inflation. These banks are also offering dismal savings account rates as well.