My e-BAnC by BAC Florida Bank's CD Rates and Financial Information
BAC Florida Bank Main Address and Contact Information
169 Miracle Mile, Suite R10
Coral Gables, Florida 33134
BAC Florida Bank FDIC Certification Number
My e-BAnC by BAC Florida Bank
Rating: (4 out of 5)100
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My e-BAnC by BAC Florida Bank Jumbo CD Rates
Rates Updated: 05/26/2017
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Top 2 Year CD Rate Now at 1.70 Percent
The top CD rates continue to move higher as the best 2 year CD rate hits 1.70 percent this week. 2 year CD rates at Connexus Credit Union take the top spot this week at 1.69 percent with a yield of 1.70 percent. Connexus has the best rate this week but two banks are right on the credit union's tail.
Northern Bank Direct, EverBank, and Popular Direct have the second best 2 year rate this week at 1.64 percent with a yield of 1.65 percent. We have another three-way tie for third place, My e-BAnC by BAC Florida Bank, TAB Bank, and VirtualBank all have a current 2 year rate of 1.61 percent with a yield of 1.62 percent.
Not only are the top rates moving higher this week, average 2 year CD rates are also higher. The current average 2 year CD rate is at 1.50 percent, up from last week's average 2 year rate of 1.47 percent. Listed below are the top ten 2 year CD rates for the week ending April 15, 2017.
Best 2 Year CD Rates
Best 1 Year CD Rates April 5, 2017
CD rates continue to move higher this week. We look for the trend of higher CD rates to continue in 2017 as long as there isn't a recession. The Fed is expected to increase the federal funds rate at least two more times this year, which will put more upward pressure on CD rates.
This week, the best 1 year CD rate in the database is now at 1.49 percent with an APY of 1.50 percent. A couple of weeks ago, the top 1 year CD rate was 5 basis points less.
The current national average 1 year CD rate also moved higher this week over last. The current national average 1 year CD rate is at 1.26 percent, up from last week's average of 1.30 percent.
Listed below is top ten 1 year CD rates currently available.
Top Ten 1 Year CD Rates
You can view a list of CD rates for all CD terms at MonitorBankRates.com.Read more...
Credit Union now Offering 1 Year CD Rates at 1.50%
As we predicted in early March, the the top 1 year CD rate currently available is now at 1.49 percent with a yield of 1.50 percent. Conexus Credit Union is the first financial institution in the rate database to increase their 1 year rate to the 1.50 percent level.
The catalyst for sending the best 1 year CD rates to 1.50 percent APY was the Federal Open Market Committee increasing the fed funds rate on March 15th. On March 8th, we wrote a post reporting that the coming fed funds rate increase will likely force the top 1 year CD rate to 1.50 percent. You can read the post at Fed Will Push Top 1 Year CD Rates Above 1.50%.
It will be interesting to see if the top online banks that usually compete to have the best rate will also increase their rate to 1.50 percent or possibly higher. There are several banks very close to the 1.50 percent level. Banesco USA has 1 year rates at 1.45 percent, PurePoint Financial, My e-BAnC by BAC Florida Bank and Live Oak Bank are all offering 1 year rates at 1.40 percent.
We continue to look for higher CD rates in 2017 because the Fed has already said there will be a need to increase the fed funds rate at least two more times in 2017. The current targeted range for the fed funds rate is 0.75 percent to 1.00 percent.
Two more fed funds rate increases will bring the rate up to a range of 1.25 percent to 1.50 percent. Having the fed funds rate in that range will send the highest 1 year CD rates up to 2.00 percent. The last time 1 year CD rates were in the 2.00 percent range was around six years ago.Read more...
CD Rates Report: 1 Year CD Rates as of January 14, 2017
Listed below is a current CD rates report for 1 year certificates of deposit as of January 14, 2017.
Current 1 Year CD Rates
For a list of today's 1 year CD rates in our database go to MontiorBankRates.com.Read more...
My e-BAnC by BAC Florida Bank 2 Year Jumbo CD Rates now at 1.44%
My e-BAnC by BAC Florida Bank 2 Year Jumbo CD rates are now at 1.44 percent with a yield of 1.45 percent. View current 2 Year Jumbo CD rates at My e-BAnC by BAC Florida Bank below. Read more...
My e-BAnC by BAC Florida Bank 3 Year CD Rates now at 1.44%
My e-BAnC by BAC Florida Bank 3 Year CD rates are now at 1.44 percent with a yield of 1.45 percent. View the current 3 Year CD rates at My e-BAnC by BAC Florida Bank below. Read more...
CD Rate Changes This Past Week
Several different banks have changed their CD rates this past week. The largest decrease in rates was on short term CD rates at Silvergate Bank. 6 month CD rates were reduced by 55 basis points and 1 year rates were reduced by 78 basis points. Read more about Silvergate Bank CD rate reductions.
The overall direction of CD rates remains a mixed bag. We won't see across-the-board CD rate increases until the Federal Open Market Committee increases the federal funds rate. The next FOMC meeting is in a couple of days but there is only a 3.6 percent chance the Fed will increase the rate according to the CME Group's Fed Watch Tool.
This past week, a total of seven banks changed rates. Four banks lowered rates while 3 banks increased rates. Two of the three banks that increased rates, EverBank and Luana Savings Bank, have a history of changing rates often. It is always important to stay apprised of the latest rate changes, which we have listed below.
This Week's CD Rate Changes
1.35% APY - New Highest 1 Year CD Rate in our Database
We have a new best 1 year CD rate in our database. Colorado Federal Savings Bank recently increased their 1 year rate and now has the highest 1 year CD rate at 1.34 percent with a yield of 1.35 percent. Connexus Credit Union had the top 1 year rate at 1.32 percent with a yield of 1.33 percent. You can view a complete list of 1 year CD rates in our database below.
Current 1 Year CD Rates
New CD Rates at My e-BAnC by BAC Florida Bank
My e-BAnC by BAC Florida Bank has changed some of their CD rates. You can see how the recent rate changes compare with CD rates at other banks by searching our rate database at MonitorBankRates.com.
My e-BAnC by BAC Florida Bank CD Rate Changes
CD Rate Changes this Past Week - Top 1 Year CD Rate Lowered 10 BPS
We now have six banks tied for the top 1 year CD rate. Several banks increased their CD rates recently as we wait for the Fed to increase rates, possibly as soon as next week.
California First National Bank was the highest bank rate last week but now CFNB's 1 year rate is tied with 6 other banks for the top rate of 1.24. The highest 1 year rate from a credit union in the rate database is slightly higher at 1.32 percent with an APY of 1.33 percent.
Listed below are CD rate changes from this past week.
To run your own search of CD rates in our database, go to MonitorBankRates.com.Read more...
Compare My e-BAnC by BAC Florida Bank's CD Rates With Other Bank Rates Below
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