Average 1 Year CD Rates Move Slightly Higher, Top Rate at 1.10%
Getting a decent yield on low risk or risk-free investments like certificates of deposit has been a challenge since the financial crisis of 2008/2009. There are some online banks paying decent yields that are considerably higher than what you would find at big brick and mortar banks.
For example, Synchrony Bank, an online bank, is currently offering 1 year rates at 1.09 percent with an APY of 1.10 percent. Chase Bank, one of the largest U.S. banks, is offering 1 year rates at a paltry 0.02 percent.
Synchrony Bank has their rates prominently displayed on the home page of their website. On the other hand, Chase Bank's paltry rates are not displayed on their home page at all. In fact, you have to drill down several times on Chase's website to see their rates.
Overall, rates won't move much higher from current levels until the Federal Reserve increases the federal funds rate. We will have to wait until sometime in 2015 for this to happen. Listed below are the top short term CD rates available this week.
12 Month CD Interest Rates and Yields
6 Month CD Interest Rates
3 Month CD Interest Rates
CD Rates | Best Certificate of Deposit Rates at Banks with the Highest Yields
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