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CD Rates: Best Interest Rates Available Today at 2.15% APY

CD rates started increasing when the Federal Reserve started increasing the fed funds rate back in March 2022. The increase in rates was rather swift, since March, the best CD rates on 12-month certificates of deposit are now over 2.00 percent. In fact, the highest 12-month CD rate right available today on the rate list is at 2.15% APY.

CD Rates: Best 12-Month Rates Available Today

  • Merrick Bank 2.15%
  • LendingClub 2.01%
  • LiveOakBank 2.00%
  • Sallie Mae 2.00%
  • TIAA Bank 2.00%
  • First Internet Bank of Indiana 1.92%
  • Capital One 1.75%
  • Citizens 1.75%
  • PenFed 1.75%
  • Ally 1.75%
  • CIBC 1.70%
  • State Bank of India California 1.51%
  • Amerant 1.50%
  • MyBankingDirect 1.50%
  • Discover 1.50%
  • Vio Bank 1.50%

CD Rates Summary

CD rates moved considerably higher in such a short period of time and will likely continue to move higher. If the Fed increases the fed funds rate by 0.75 percent this month, we could see CD rates on 12-month CDs hit 3.00 percent. If inflation persists even after the July increase, we could possibly see the best CD rates on 1-year CDs hit the 4.00 percent to 5.00 percent range.

Author: Brian McKay
July 4th, 2022