Both Average and Best Certificate of Deposit Rates Increase

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The good news for CD rates continues, average certificate of deposit rates and the best CD rates moved higher this week. A few banks and credit unions increased shorter term CD rates, this move sent average 1 year and 2 year rates higher.

The current average 1 year CD rate is now at 1.08 percent, up 2 basis point from last week's average of 1.06 percent. Over the past 6 months, average 1 year rates increased 12 basis points. The increase might not sound like much but on a percentage basis, the increase is 12.5 percent.



2 year CD rates are averaging 1.18 percent, up 1 basis point from last week's average of 1.17 percent. 6 months ago, average 2 year rates were at 1.07 percent, 11 basis points lower. This is a 10.28 percent increase.

Listed below are the highest short term certificate of deposit rates for February 11, 2015:

3 Month Rates

  • California First National Bank 0.60%

  • First Internet Bank of Indiana 0.45%

  • Pacific Mercantile Bank 0.45%


6 Month Rates

  • California First National Bank 1.00%

  • Zions Direct 1.00%

  • Chartway Federal Credit Union 0.85%

  • HeritageWest Credit Union 0.85%


1 Year Rates

  • Connexus Credit Union 1.30% APY 1.30%

  • iGObanking.com 1.29% APY 1.30%

  • Chartway Federal Credit Union 1.20% APY 1.21%

  • HeritageWest Credit Union 1.20% APY 1.21%


18 Month Rates

  • Synchrony Bank 1.24% APY 1.25%

  • Virtual Bank 1.20% APY 1.21%

  • My e-BAnC by BAC Florida Bank 1.17% APY 1.18%


2 Year Rates

  • CIT Bank 1.34% APY 1.35%

  • Synchrony Bank 1.34% APY 1.35%

  • My e-BAnC by BAC Florida Bank 1.30% APY 1.31%


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Author: Brian McKay
February 11th, 2015