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1 Year CD Rates Averaging 0.26% Highest 1 Year CD Rate at 1.10%

Average 1 year CD rates are at 0.26 percent in this week's Federal Deposit Insurance Corporation's (FDIC) national average rate survey. Jumbo bank CD rates in the survey this week are averaging just 1 basis point higher at 0.27 percent. Bankrate's weekly national survey has 1 year CD rates at banks at 0.73 percent.

The highest CD rates on 1 year certificates of deposit are above 1.00 percent. The best rate on our rate list for September 18, 2012, is from AloStar Bank of Commerce at 1.10 percent with an APY of 1.11 percent. That rate is more than 4 times the FDIC national average and 38 basis points higher than Bankrate's national average this week.



Unfortunately these low CD interest rates are here to stay for several more years. The Federal Open Market Committee (FOMC) had their September meeting last week and announced more easing which is designed to send interest rates even lower.

The Fed's actions of lowering borrowing costs for individuals and business are designed to spur economic activity to get the economy on stronger footing and lower the unemployment rate. A negative side affect to his is low deposit rates on interest bearing assets like certificates of deposit and savings account.

Here is a list of the top CD rates on 1 year certificates of deposit for September 18, 2012:

Best CD Rates



  1. AloStar Bank of Commerce CD Rates 1.10% APY 1.11%

  2. CIT Bank CD Rates 1.09% APY 1.10%

  3. Bank of Internet USA CD Rates 1.09% APY 1.10%

  4. MetLife Bank CD Rates 1.04% APY 1.05%

  5. Colorado Federal Savings Bank CD Rates 1.04% APY 1.05%

  6. Ally Bank CD Rates 1.03% APY 1.04%

  7. Doral Bank CD Rates 1.01% APY 1.01%

  8. ableBanking CD Rates 1.00% APY 1.00%

  9. California First National Bank 1.00% APY 1.00%

  10. EH National Bank 1.00% APY 1.00%

  11. Barclays Bank CD Rates 0.90% APY 0.90%

  12. Discover Bank CD Rates 0.90% APY 0.90%

  13. Lone Star Bank CD Rates 0.90% APY 0.90%

  14. Ascencia, a div. of PBI Bank CD Rates 0.90% APY 0.90%

  15. E-Loan CD Rates 0.90% APY 0.90%


As you can see all the certificate of deposit rates listed above are well above the FDIC average regular CD rate and jumbo CD rate this week. All the CD rates listed above are also above Bankrate's national average rate this week.
 
Author: Jason P. Jones
September 18th, 2012