Average Bank CD Rates

average-bank-cd-ratesBank CD rates continued their slow decent down this week, there were no big moves down, in fact the average bank CD rate decline was fractional this week over last week.

Bank CD rates are not expected to move higher until sometime next year when the economic recovery is well under way and the Federal Reserve starts raising interest rates.

Bank CD Rates

  • The average yield on a 3 month bank certificate of deposit is at 0.592 percent this week, down from last week’s average 3 month CD rate of 0.600 percent. UFB Direct is offering the best CD rate for a 3 month CD, the current rate is 1.24% and the yield is 1.25%
  • 6 month bank certificate of deposit rates are averaging 0.863 percent this week, down from the prior week’s average rate of 0.873 percent. First Century Bank is offering 6 month bank CD rates that currently have an APY of 1.75%.
  • Average CD rates for 12 month CDs are at 1.145% percent this week, down from the previous week’s average of 1.154 percent. We found one of the best Florida CD rates by using MBR’s bank rate tables, Ally Bank is currently offering one of the highest CD rates for a one year CD, their currently yield is 2.00 percent.
  • 18 month CD rates at banks are averaging 1.311 percent this week, down from last week’s average of 1.320.
  • 24 month CD rates at banks are averaging 1.613 percent, down from the prior week’s average CD rate of 1.622 percent.
  • 36 month certificate of deposit rates are averaging 1.923 percent this week, down from the previous week’s rate of 1.928 percent.
  • The average rate for a 48 month certificate of deposit is 2.153 percent, down from 2.159 percent.
  • 60 month CD rates are averaging 2.422 percent this week, down from last week’s average of 2.429 percent.

Find the best CD rates in your area by searching our CD rate tables here: cdrates.monitorbankrates.com

 
Author: Brian McKay
October 25th, 2009