Finding a decent bank CD rate has become more and more difficult these days. CD rates have been on the decline for over a year now and seem to hit new lows every week.

When you factor in the inflation rate, the return on your money is better than it appears. The Consumer Price Index (CPI) has actually declined by 1.3 percent over the past 12 months. Granted, some consumer items like the price of gas has gone up over past year but other consumer prices have declined during that period.

Here is a list of the top 21 three month certificate of deposit yields for zip code 90215 listed in our CD rate tables. You can find a list here: CD Rate Tables

• Imperial Capital Bank - 1.35% APY
• First Federal Bank of California -  1.30% APY
• La Jolla Bank - 1.30% APY
• Luther Burbank Savings 1.25%
• UFB Direct 1.25% APY
• Ally Bank 1.20 APY
• BankDirect 1.11% APY
• EverBank 1.05% APY
• Nationwide Bank 1.05% APY
• Allstate Bank 1.01% APY
• Discover Bank 1.00% APY
• Contra Coast Bank Center 0.80% APY
• Bank of the Sierra 0.76% APY
• First Internet Bank of IN 0.75% APY
• Bank of Internet USA 0.75% APY
• Giantbank.com 0.75% APY
• Capital Source Bank 0.75% APY
• E-Loan.com 0.70% APY
• First Republic Bank 0.65% APY
• San Joaquin Bank 0.65% APY
• Ameriprise Bank FSB 0.65%

In addition to CD Rate Tables, MonitorBankRates.com also offers free bank rate tables for the following types of accounts and loan categories:

• Savings Account Rate Tables
• Checking Account Rate Tables
• Auto Loan Rate Tables 
• Mortgage Rate Tables

Find the best bank rates in your area.

CPI data provided by the Bureau of Labor Statistics.

Average CD rates were lower in all certificate of deposit categories this week. The declines were small this week compared to last week. CD rates at banks continue to drift down with no end in sight to the decline in rates.

There are deals and promotional CD rates available these days. Some promo CD rates and yields are a lot higher than the current national average rate.

Right now, ING Direct tops our 12 month CD rate chart with an annual percentage yield (APY) of 2.10 percent, almost double the national average rate for a 12 month CD. The minimum deposit for an ING certificate of deposit is just $1.00. Search for CD rates in your area here:  CD Rate Charts

Average CD Rates

• Current 3 month certificate of deposit rates are averaging 0.600 percent this week, down from last week’s average rate of 0.605 percent.
• Average 6 month certificate of deposits are at 0.873 percent this week, down from the prior week’s average rate of 0.878 percent.
• One year CD rates are averaging 1.154 percent this week, down from the previous week’s average rate of 1.161 percent.
• 18 month certificate of deposit rates are averaging 1.320 percent this week, down from last week’s average rate of 1.325 percent.
• Two year CD rates are averaging 1.622 percent, down from 1.631 percent the prior week.
• Three year certificate of deposits are averaging 1.928 percent, down from 1.934 percent.
• The average four year CD rate is currently at 2.159 percent, down from last week’s average rate of 2.164 percent.
• Average five year CD rates are at 2.429 percent, down from the previous week’s rate of 2.433 percent.

Find the best CD rates in your area by using CD rate tables on  MonitorBankRates.com. Find the best CD rates here.

Earlier this week the U.S. Treasury Department issued a press release saying that 500,000 mortgage loans have been modified under the Making Homes Affordable Program.

The 500,000 mortgage loan modification goal was set in July of 2009 and was achieved ahead of the November 1, 2009 goal date. 

Along with the government’s push to have mortgage loans modified, lower current mortgage rates have also helped the process along by making it easier to modify home mortgage loans since the monthly payment costs are lower.  Home loan modifications are now being issued at a faster rate than new homeowners are becoming eligible.

The Obama Administration also believes there are more mortgage loans that can be modified and more can be done to assist struggling homeowners and help stabilize the housing market. Treasury and HUD officials also held a series of meetings with home loan servicers this past week to improve the process.

If you’re struggling with your mortgage payments, you should look into the Making Home Affordable Program to see if you’re eligible. Even if you’re eligible to have your mortgage modified, it won’t be an easy process. You can lean more about the program from the government’s website, MakingHomeAffordable.gov.

There have been reports of mortgage service providers and banks repeatedly losing paperwork submitted by homeowners to have their loans modified, along with other horror stories of folks losing their homes while waiting for their loans to be modified. So you should look into the program right away if you’re struggling with your mortgage payments.

ING Direct has two of the best CD rates available today for a one year certificate of deposit. The bank is offering two different one year CD products. The highest CD rate is for their “Added Value CD,” the current annual percentage yield (APY) is 2.25 percent.

This yield is for CD accounts that are opened with money not currently deposited with ING Direct, also known as “new money.” If you open a one year certificate of deposit account with monies already deposited with ING Direct, the APY is 2.10 percent - still one of the best bank cd yields available today.

Both one year CD rates are a lot higher than the national average CD rates available today. Today’s one year national average CD rate is 1.165 percent. The rates are currently higher than all of ING Direct’s other certificate of deposit terms, including their longer term 5 year CDs which have a current APY of 1.75 percent.

ING Direct Orange and Added Value CD Rates

Having a comfortable lifestyle in retirement is the goal for most people when they retire. Maintaining your existing lifestyle on less income can be challenging. In fact, figuring out how much income you’ll need to retire on is a challenge in itself. 

If you’re like most people, you might have either a 401k plan, an IRA, an annuity and possibly even a pension. Other popular sources of income in retirement include certificate of deposit accounts and reverse mortgages. Figuring out the monthly income for all sources might take professional help but figuring out your Social Security benefits is a snap.

Figuring out  how much your social security benefits will be is easy by using the Social Security Administrations’ Retirement Planner. The planner includes a table to help you figure out at what age you can retire and if you retire early, how much your Social Security benefits will be reduced.

The Retirement Estimator will help you figure out how much Social Security benefits you will actually receive based on your actual Social Security earnings on record. Your earnings (in this case) are how much you have paid into Social Security over the years.

There are benefit calculators to figure out how much your potential Social Security benefits might be. These calculators give you a rough estimate of what your retirement benefits will be and are not based on your actual earnings record.

• Figure out your retirement age: Retirement Age Table
• Figure out how much your benefits will be based on your earnings on record: Retirement Estimator
• Figure out your retirement benefits based on future potential earnings: Benefit Calculators
• Retirement planner frequently asked questions: FAQ

Planning on working even when you reach retirement age? You do have the option to continue working even though you collect Social Security retirement benefits but your benefits will be reduced. Find out how much your retirement benefits will be reduced by here: Reduced Retirement Benefits.

If you’re near retirement, you can start the process and apply for Social Security benefits online. Social Security Retirement Benefit Application. You can also call the Social Security Administration at 1-800-772-1213 to schedule an appointment to apply in person.

Bank CD rates continue to make new lows this week with no end in sight to the declines. CD rates have been going down practically all year. In the summer/fall of 2008 one could find special promotional one year bank CD rates that were paying between 4% and 5%.

Unfortunately those days are gone for now, hopefully by the spring of 2010 rates will start heading up again, the key factor being the economic recovery. Economists expect GDP to grow this quarter and next but if the recovery isn’t sustainable and doesn’t continue into next year the Fed won’t raise the Fed funds rate because inflation won’t be a concern.

A low Fed funds rate which currently has a targeted range of zero percent to 1/4 percent will keep a cap on CD rates. If the opposite happens and the recovery has legs, the Fed will be concerned about inflation and possibly will raise interest rates which will drive banks to increase interest rates on deposit accounts like certificate of deposit accounts and savings accounts. Unfortunately a higher Fed funds rate will also drive mortgage rates higher as well.  

CD Rates & CD Yields

• 3 month CD rates are averaging 0.616 percent this week, down from last week’s average CD rate of 0.682 percent. UFB Direct has one of the best CD rates for a 3 month CD, the bank’s current CD yield is 1.35% for balances of at least $8,000.
• The average 6 month CD rate is at 0.892 percent this week, down from the prior week’s average CD rate of 1.017 percent. Ally Bank is offering one of the highest CD rates for a 6 month CD, the bank’s current CD yield is 1.65 percent.
• 1 year certificate of deposit rates are averaging 1.173 percent this week, down from last week’s average CD rate of 1.372 percent. CD rates best -  ING Direct is offering a 1 year certificate of deposit that currently has a CD yield of 2.10 percent.

Longer Term Bank CD Rates & Bank CD Yields

• 18 month certificate of deposit rates are down to 1.335 percent this week, down from the prior week’s average CD rate of 1.561 percent. Nationwide Bank is offering a 18 month bank CD yield of 2.20 percent.
• 2 year CD rates are averaging 1.640 percent this week, down from last week’s average CD rate of 1.833 percent. CD Rates at Banks: E-Loan is offering a 2 year CD yield of 2.37 percent.
• The average 3 year CD rate is currently at 1.941 percent this week, down from the previous week’s average rate of 2.136 percent.
• 4 year certificate of deposit rates are averaging 2.173 percent this week, down from last week’s average CD rate of 2.406 percent.
• 5 year CD rates are averaging 2.437 percent this week, down from the prior week’s average CD rate of 2.650 percent.

Find the best bank CD rates in your zip code my searching our CD rate tables: Best CD Rates

Finding a decent CD rate isn’t easy these days. The national average 12 month bank CD rate is currently just above 1.00 percent at 1.18 percent.

You can find 12 month bank CD rates above the national average rate. There are several banks that offer 12 month CD rates around 2.00 percent.

One of the highest 12 month certificate of deposit yield available is from Bank of Internet. The bank’s current 12 month CD yield is 2.15 percent. You can open a Bank of Internet certificate of deposit here. Bank of Internet 12 month CD Yield 2.15%.

Here is a list of the top ten - 12 month certificate of deposit yields.

Bank CD Rates

• Bank of Internet 12 month CD yield - 2.15%
• GiantBank.com 12 month CD yield - 2.01%
• Ally Bank 12 month CD yield - 2.00%
• Nationwide Bank 12 month CD yield - 2.00%
• UFB Direct 12 month CD yield - 2.00%
• E-Loan.com 12 month CD yield - 1.95%
• Discover Bank 12 month CD yield - 1.95%
• AIG Bank 12 month CD yield - 1.91%
• HSBC Direct 12 month CD yield - 1.85%
• ING Direct 12 month CD yield 1.85%

CD rates above are current as of 10/1/09. Find the best CD rates in your area by viewing our CD rate tables. You can find the highest CD rates from 3 months to 5 years. CD Rate Table Search.

Discover Bank, the banking arm of the credit card company, if offering a $25 promotional bonus for opening a no penalty 12 month certificate of deposit.

The 12 month certificate of deposit currently has an annual percentage yield of 1.95 percent, currently one of the best CD yields around for a 12 month CD. Discover Bank has very competitive bank cd rates these days. This bonus certificate of deposit promotion is available until December 31, 2009.

To receive the $25 bonus you must deposit a minimum of $2,500 of new money, money not currently held in Discover Bank accounts, within 30 days of submitting a certificate of deposit application with Discover Bank. The funds must remain in the account for 90 days to receive the bonus.

Discover Bank’s ”No Penalty CD” benefit applies to 12-month Certificates of Deposit and/or 12-month IRA certificates of deposit opened or renewed between July 1, 2009 and December 31, 2009 and held as a sole ownership or joint-tenant account. The No Penalty CD benefit waives the early CD withdrawal penalty fee in the event of an involuntary job loss.

The offer can be found at http://www.discoverbank.com/cdoffer .You have to use an offer code to receive the bonus. You can try using this offer code: D120176 or some close variation of it. We successfully were able to use several variations by changing the last three numbers of the bonus offer code.

CD rates were down this week, continuing the downtrend that started late last year. Rates are not expected to rise anytime soon since the Fed is expected to keep the Fed Funds rate in a targeted range to zero percent to 1/4 percent until early next year.

The economy is expanding again this quarter and the recession is expected to end by the end of 2009.  The Fed isn’t planning on raising interest rates because inflation still isn’t a concern at this point and the housing market is still weak. Any increase in rates will drive mortgage rates higher choking off any recovery.

Bank CD Rates

• 3 month CD rates are currently at 0.631 percent, down from the previous week’s average CD rate of 0.691 percent. CD Interest Rates - First Federal Bank of California is offering one of the best CD rates available today for a 3 month CD, their current APY is 1.45 percent.
• 6 month CD rates are back under 1.00 percent at 0.906 percent, down from the prior week’s average CD rate of 1.038 percent. CD Rates Best: First Century Bank is offering a 6 month CD that has an APY of 1.75 percent.
• 12 month CD rates are down to 1.187 percent this week, down from the prior week’s average CD rate of 1.430 percent. High CD Rates - GiantBank is offering a 12 month certificate of deposit that currently yields 2.01 percent.

CD Rates

• 18 month certificate of deposit rates are averaging 1.346 percent this week, down from last week’s average certificate of deposit rate of 1.607 percent. Savings CD Rates - Nationwide Bank is offering an 18 month CD that has an APY of 2.20 percent. 
• 24 month certificate of deposit rates are down to 1.645 percent this week, down from the prior week’s average certficate of deposit rate of 1.867 percent. Best CD Rates: Tennessee Commerce Bank is offering a 24 month certificate of deposit that has a current APY of 2.40 percent.
• 36 month certificate of deposit rates are back under 2.00 percent at 1.947 percent, down from the previous week’s average certificate of deposit rate of 2.172 percent.  Bank CD Rates - Ally Bank is offering a 36 month certificate of deposit that has an APY of 2.75 percent.
• The average 48-month CD rate is currently at 2.178 percent this week, down from last week’s average CD rate of 2.469 percent. Best CD Rates - Discover bank is offering a 48 month CD that has a current APY of  3.10 percent.
• Average CD rates for 60 month certificate of deposits are at 2.440 percent this week, down from the prior week’s average CD rate of 2.708 percent. Highest CD Rates - Citibank is offering one of the highest CD yields for a 60 month CD, their current CD yield is 3.50 percent.

Looking for the best CD rates? MonitorBankRates.com has a CD rate search engine you can use to find the best CD rates in your area. Best CD Rates Here

UFB Direct is offering one of the best 6 month CD rates currently available these days. The CD interest rate is currently at 1.69 percent and the annual percentage yield is 1.70 percent. One of the highest CD rates around for a 6 month CD.

The CD rate and CD yield is tiered but right now is the same for all of the bank’s CD rate accounts including their high interest accounts (balances of $20,000 to $49,999), premier accounts (balances of $50,000+) and jumbo CD rates (balances of $100,000+).

UFB Direct also has one of the best 12 month CD rates at banks. The 12 month certificate of deposit rate is currently at 1.98 percent and the annual percentage yield is 2.00 percent. The 12 month CD rates and yields are tiered just like the 6 month certificate of deposit.

UFB Direct deposit accounts are opened through Waterfield Bank of Irvine California, a tradtional bank offering deposit accounts and mortgages.

UFB Direct CD Rates