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CD Rate Report – August 20, 2015 – Top 1 Year CD Rate at 1.30% APY

There were only 2 CD rate changes this week as financial institutions wait for the September Federal Reserve meeting and potential rate hike. My e-BAnC by BAC Florida Bank increased their 18 month rate 1 basis point to 1.21 percent APY and EverBank lowered their 4 year rate to 1.87 percent, a decline of 4 basis points.

The Fed's July meeting minutes were released yesterday. The minutes showed Fed officials are struggling to get comfortable with raising interest rates next month. Fed officials are ready to increase rates because they believe the economy will continue to gain traction but inflation is still well below the point needed to increase rates.




August 20, 2015 Weekly CD Rate ReportConsumer prices (CPI) over the past 12 months increased only 0.02 percent according to the government's CPI report. Consumer inflation at 0.02 percent is well below the 2 percent rate the Fed considers healthy enough to increase interest rates.

It will be interesting to see what the Fed says and does next month. The last time the federal funds rate was increased was almost 10 years ago.

The Fed has increase the fed funds rate before we see across the board CD rate increases by banks and credit unions. Any CD rate increases that happen before the Fed acts will continue to be small.

Listed below are average CD rates and the best CD rates available in the rate database for August 20, 2015.

Top CD Rates Available August 20, 2015


2 Month Interest Rates/Yields

  • 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 Interest Rates/Yields

  • EverBank 0.55% Yield 0.55%

  • California First National Bank 055% Yield 0.55%

  • 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%

  • Discover Bank 0.35% Yield 0.35%

  • Nordstrom Bank 0.35% Yield 0.35%


6 Month Interest Rates/Yields

  • California First National Bank 0.85% Yield 0.85%

  • MyCBB 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%

  • AloStar Bank of Commerce 0.80% APY 0.80%

  • ableBanking, a division of Northeast Bank 0.80% Yield 0.80%

  • Silvergate Bank 0.75% Yield 0.75%

  • Chartway Federal Credit Union 0.75% Yield 0.75%


9 Month Interest Rates/Yields

  • New Dominion Bank 0.89% Yield 0.90%

  • AloStar Bank of Commerce 0.80% Yield 0.80%

  • giantbank.com 0.70% Yield 0.70%

  • Discover Bank 0.70% Yield 0.70%

  • GE Capital Bank 0.70% Yield 0.70%

  • Virtual Bank 0.70% Yield 0.70%


1 Year Interest Rates/Yields

  • E-Loan 1.29% Yield 1.30%

  • CIT Bank 1.24% Yield 1.25%

  • Synchrony Bank 1.24% Yield 1.25%

  • Sallie Mae Bank 1.24% Yield 1.25%

  • Bank Direct 1.20% Yield 1.21%

  • AloStar Bank of Commerce 1.20% Yield 1.21%

  • My e-BAnC by BAC Florida Bank 1.19% Yield 1.20%

  • Colorado Federal Savings Bank 1.19% Yield 1.20%

  • Home Savings Bank 1.19% Yield 1.20%


18 Month Interest Rates/Yields

  • E-Loan 1.34% Yield 1.35%

  • Synchrony Bank 1.24% Yield 1.25%

  • Nordstrom Bank 1.24% Yield 1.25%

  • AloStar Bank of Commerce 1.20% Yield 1.21%

  • Virtual Bank 1.20% Yield 1.21%

  • My e-BAnC by BAC Florida Bank 1.20% Yield 1.21% (up 0.01%)


2 Year Interest Rates/Yields

  • E-Loan 1.51% Yield 1.52%

  • Silvergate Bank 1.45% APY 1.46%

  • Synchrony Bank 1.44% Yield 1.45%

  • PenFed Rate 1.40% Yield 1.41%

  • CIT Bank Rate 1.39% Yield 1.40%

  • AloStar Bank of Commerce Rate 1.39% Yield 1.40%


3 Year Interest Rates/Yields

  • E-Loan 1.83% Yield 1.85%

  • Silvergate Bank 1.65% Yield 1.66%

  • Sallie Mae 1.59% Yield 1.60%

  • Capital One 360 1.59% Yield 1.60%

  • California First National Bank 1.54% Yield 1.55%

  • First Internet Bank of Indiana 1.50% Yield 1.51%

  • Synchrony Bank 1.49% Yield 1.50%

  • Lone Star Bank 1.49% Yield 1.50%

  • AloStar Bank of Commerce 1.48% Yield 1.50%


4 Year Interest Rates/Yields

  • EverBank 1.85% Yield 1.87% (down 0.04%)

  • Nationwide Bank 1.84% Yield 1.86%

  • CIT Bank 1.80% Yield 1.82%

  • Virtual Bank 1.77% Yield 1.78%

  • Capital One 360 1.75% Yield 1.76%

  • First Internet Bank of Indiana 1.75% Yield 1.76%

  • Discover Bank 1.74% Yield 1.76%

  • Synchrony Bank 1.73% Yield 1.75%


5 Year Interest Rates/Yields

  • E-Loan 2.42% Yield 2.45%

  • Synchrony Bank 2.23% Yield 2.25%

  • Capital One 360 2.23% Yield. 2.25%

  • First Internet Bank of Indiana 2.15% Yield 2.17%


Average CD Rates August 20 - 2015Average CD Rates August 20, 2015


3 Month Average CD Rate 0.25% (unchanged)
6 Month Average CD Rate 0.58% (unchanged)
12 Month Average CD Rate 1.07% (up 0.01%)
24 Month Average CD Rate 1.20% (up 0.01%)
60 Month Average CD Rate 1.77% (down 0.04%)

You can always find the most current online CD rates by searching our database of rates at MonitorBankRates
 
Author: Brian McKay
August 20th, 2015