9 CD Rates Increased – 8 CD Rates Decreased in June
Banks and credit unions have been all over the place with their rates. In our database of CD rates, there were 9 CD rate increases and 8 CD rate decreases in June. Average CD rates on 2 year, 3 year and 5 year certificates of deposit moved slightly higher while 3 month and 6 month rates were unchanged.
The biggest decrease the past month was from Chartway Federal Credit Union. CFCU's 6 month rate was lowered from 0.85 percent to 0.70 percent. The largest increase was from Synchrony Bank. The bank's 2 year CD rate was increased from 1.15 percent to 1.25 percent.
CD Rates will remain near current levels until the Federal Open Market Committee increases the federal funds rate. Most Fed watchers anticipate an increase during the FOMC's September meeting. The amount of the increase will probably be 0.25 percent, which will send the best CD rates in our database up by the same amount.
2 Month CD Interest Rates
MyCBB 0.80% Yield 0.80%
E-Loan 0.16% Yield 0.16%
Loan Star Bank 0.15% Yield 0.15%
Virtual Bank 0.15% Yield 0.15%
3 Month CD Interest Rates
California First National Bank 0.60% Yield 0.60%
First Internet Bank of Indiana 0.45% Yield 0.45%
AloStar Bank of Commerce 0.40% Yield 0.40%
Goldwater Bank 0.40% Yield 0.40%
Virtual Bank 0.40% Yield 0.40%
Barclays 0.35% Yield 0.35%
Discover Bank 0.35% Yield 0.35%
Nordstrom Bank 0.35% Yield 0.35%
6 Month CD Interest Rates
California First National Bank 0.90% Yield 0.90% (decreased 0.05%)
MyCCB 0.85% Yield 0.85%
EH National Bank 0.80% Yield 0.80%
My e-BAnC by BAC Florida Bank 0.80% Yield 0.80%
Silvergate Bank 0.75% Yield 0.75%
Chartway Federal Credit Union 0.70% Yield 0.70% (decreased 0.15%)
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