CD Rate Reports

Find the best CD bank rates by reading our reports and searching our CD rate tables. You can compare average CD rates to the highest rates available.

Bank CD rates will increase in the coming weeks and will make new highs for 2018. The reason for higher CD rates in the coming weeks is because of a higher fed funds rate. The Federal Reserve is meeting today and tomorrow and is widely expected to increase the fed funds rate by 25 basis points.

In fact, it’s a foregone conclusion that a 0.25 percent rate hike is coming according to market probabilities. The CME Group’s FedWatch Tool puts the likelihood of an increase this week at 94.4 percent. One of the highest probabilities I recall ever seeing with the FedWatch Tool.

Bank CD Rates Forecast Higher

Bank CD Rates Move HigherAlthough a 0.25 percent hike is coming for the fed funds rate, don’t expect banks to increase deposit rates by 0.25 percent, not initially anyway. Banks will be quick to increase loan rates by 25 basis points, in lock-step with the fed funds rate, but not on deposit rates. This is standard practice and is how banks traditionally made money. This is also how banks achieve higher profit margins in higher-rate economic environments.

What is likely to occur is the best deposit rates will move about 10 to 15 basis points higher. The best CD rates on 1 year certificates of deposit, currently at 2.15 percent, will increase to 2.25 percent to 2.30 percent. The top 6 month CD rates currently at 1.95 percent will increase to 2.05 percent to 2.10 percent. The highest 3 month CD rates will increase to 1.55 percent to 1.60 percent. These top CD rates are available online, most brick and mortar bank CD rates are well below these rates.

CD rates have been on an uptrend for about two years now and will continue moving higher for the rest of 2017. The FOMC is expected to increase the fed funds rate at least two more times this year and possibly more. Two more rate increases will send short term CD rates up at least another 25 to 30 basis points.

The key to more than two rate increases is higher inflation. The Fed has a target of a 2.00 percent inflation rate. If the Fed expects inflation to increase higher than their target rate, that will trigger the Fed to increase the rate more than two times.

 

 
Author: Brian McKay
March 20th, 2018

The highest CD rates continue to move higher as online banks increase rates again this week. 10 different online banks and credit unions increased a slew of CD rates over the past seven days. Rates on both short term and long term certificates of deposits moved higher.

The biggest increases again this week were on shorter term certificates of deposit. This is because the Federal Reserve is driving short term rates higher. The Fed is scheduled to meet in the middle of next month and is widely expected to increase rates again.

Highest CD Rates

Another Fed increase in the fed funds rate will entice banks and credit unions to increase CD rates even more. Currently, the highest CD rates on 1 year certificates of deposit are just above 2.00 percent. The best CD rate right now on the rate table is 2.10 percent from Live Oak Bank.

Highest CD Rates Move Higher as Banks Increase RatesBy the end of March, expect the highest 1 year CD rate to be around 2.25 percent to 2.35 percent. Looking towards the end of 2018, the highest rate will be around 3.00 percent to 3.25 percent. The key to where rates end up is how many times the Fed increases the fed funds rate.

The Fed is expected to increase the rate at least three times in 2018. There might be more increases if inflation is higher than expected. Consequently, deposit rates will move higher than expected.

The key pieces of economic news to watch are the Consumer Price Index, Producer Price Index, hourly earnings, and the unemployment rate. Stronger economic news will force the Fed to increase rates more than three times this year.

This Week’s CD Rate Changes

Financial Institution CD Product Yield (New / Old)
Presidential Bank, FSB 1 yr CD 1 / 0.95
Presidential Bank, FSB 2 yr CD 1.16 / 1.1
Presidential Bank, FSB 3 yr CD 1.31 / 1.23
Presidential Bank, FSB 5 yr CD 1.61 / 1.53
Goldman Sachs Bank USA 1 yr CD 2.05 / 1.8
Goldman Sachs Bank USA 2 yr CD 2.15 / 1.9
Goldman Sachs Bank USA 3 yr CD 2.25 / 2
Goldman Sachs Bank USA 5 yr CD 2.6 / 2.5
Goldman Sachs Bank USA 18 month CD 2.1 / 1.85
Goldman Sachs Bank USA 4 yr CD 2.3 / 2.1
Sandia Area Federal Credit Union 6 month CD 0.7 / 0.65
Sandia Area Federal Credit Union 1 yr CD 1.05 / 0.8
Sandia Area Federal Credit Union 2 yr CD 1.45 / 1.35
Sandia Area Federal Credit Union 3 yr CD 1.8 / 1.6
Sandia Area Federal Credit Union 4 yr CD 2 / 1.85
Limelight Bank 1 yr CD 2.02 / 1.96
Luana Savings Bank 9 month CD 1.75 / 1.7
Luana Savings Bank 9 month jumbo CD 1.75 / 1.7
Nationwide Bank 6 month CD 1.5 / 1.2
Nationwide Bank 2 yr CD 2.1 / 1.9
Nationwide Bank 6 month jumbo CD 1.55 / 1.25
Nationwide Bank 2 yr jumbo CD 2.15 / 1.95
Northern Bank Direct 1 yr CD 1.5 / 1.06
Northern Bank Direct 2 yr CD 1.75 / 2.26
Northern Bank Direct 3 yr CD 2.55 / 1.35
Northern Bank Direct 5 yr CD 2.57 / 1.65
Northern Bank Direct 4 yr CD 2.56 / 2.51
VirtualBank 5 yr CD 2.65 / 2.58
VirtualBank 5 yr jumbo CD 2.65 / 2.58
Synchrony Bank 1 yr CD 1.95 / 1.85
Synchrony Bank 1 yr jumbo CD 1.95 / 1.85
M.Y. Safra Bank, FSB 5 yr CD 2.66 / 2.6
M.Y. Safra Bank, FSB 5 yr jumbo CD 2.66 / 2.6
 
Author: Brian McKay
February 22nd, 2018

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

  1. Connexus CU – Rate 1.69% Yield 1.70%
  2. Northern Bank Direct – Rate 1.64% Yield 1.65% (tied for 2nd place)
  3. Popular Direct – Rate 1.64% Yield 1.65% (tied for 2nd place)
  4. TAB Bank – Rate 1.60% Yield 1.61% (tied for 3rd place)
  5. My e-BAnC by BAC Florida Bank – Rate 1.60% Yield 1.61% (tied for 3rd place)
  6. VirtualBank – Rate 1.60% Yield 1.61% (tied for 3rd place)
  7. Banesco USA – Rate 1.60% Yield 1.60%
  8. Capital One Bank – Rate 1.59% Yield 1.60% (tied for 5th place)
  9. Synchrony Bank – Rate 1.59% Yield 1.60% (tied for 5th place)
  10. M.Y. Safra Bank, FSB – Rate 1.59% Yield 1.60% (tied for 5th place)
  11. iGObanking.com – Rate 1.59% Yield 1.60% (tied for 5th place)
  12. Congressional Bank – Rate 1.59% Yield 1.60% (tied for 5th place)
  13. iGObanking.com – Rate 1.59% Yield 1.60% (tied for 5th place)
  14. First Internet Bank of Indiana – Rate 1.56% Yield 1.57%
  15. CD Bank – Rate 1.55% Yield 1.56%
  16. Nationwide Bank – Rate 1.50% Yield 1.51% (tied for 8th place)
  17. Pentagon Federal Credit Union – Rate 1.50% Yield 1.51% (tied for 8th place)
  18. PurePoint Financial – Rate 1.49% Yield 1.50% (tied for 9th place)
  19. Home Savings Bank – Rate 1.49% Yield 1.50% (tied for 9th place)
  20. Live Oak Bank – Rate 1.49% Yield 1.50% (tied for 9th place)
  21. GS Bank – Rate 1.44% Yield 1.45%
 
Author: Brian McKay
April 25th, 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

  • Pentagon Federal Credit Union 1.35% Yield 1.36% (tied for 1st place)
  • EverBank 1.35% Yield 1.36% (tied for 1st place)
  • VirtualBank 1.30% Yield 1.31%
  • Live Oak Bank 1.29% Yield 1.30%
  • My e-BAnC by BAC Florida Bank 1.28% yield 1.29%
  • E-Loan 1.27% Yield 1.28% (tied for 5th place)
  • Popular Direct 1.27% Yield 1.28% (tied for 5th place)
  • Pacific National Bank 1.26% Yield 1.27%
  • California First National Bank 1.25% Yield 1.26% (tied for 7th place)
  • TAB Bank 1.25% Yield 1.26% (tied for 7th place)
  • Synchrony Bank 1.24% Yield 1.25% (tied for 8th place)
  • Colorado Federal Savings Bank 1.24% Yield 1.25% (tied for 8th place)
  • Salle Mae 1.24% Yield 1.25% (tied for 8th place)
  • AloStar Bank of Commerce 1.22% Yield 1.23% (tied for 9th place)
  • giantbank AloStar 1.22% Yield 1.23% (tied for 9th place)
  • CIT Bank 1.21% Yield 1.22% (tied for 10th place)
  • BankDirect 1.21% Yield 1.22% (tied for 10th place)

For a list of today’s 1 year CD rates in our database go to MontiorBankRates.com.

 
Author: Brian McKay
January 14th, 2017

TriState Capital Bank, headquartered in Pittsburgh, Pennsylvania, just increased their jumbo CD rates. All increases were 5 basis points higher on short and intermediate term certificates of deposit. TriState Capital gets a 4 out of 5 star rating. Both the old and new CD rates are listed below. You can see how these new rates compare with other bank CD rates by searching our rate lists at MonitorBankRates.com.

TriState Capital Bank Jumbo CD Rates

Bank Product Rate (New / Old) Yield (New / Old)
TriState Capital Bank 1 yr jumbo CD 1.10 / 1.05 1.10 / 1.05
TriState Capital Bank 2.5 yr jumbo CD 1.24 / 1.19 1.25 / 1.20
TriState Capital Bank 2 yr jumbo CD 1.24 / 1.19 1.25 / 1.20
TriState Capital Bank 18 month jumbo CD 1.19 / 1.15 1.20 / 1.15
TriState Capital Bank 3 yr jumbo CD 1.34 / 1.29 1.35 / 1.30
 
Author: Brian McKay
November 27th, 2016