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CD Rate Report June 2, 2015: Best 6 Month CD Rate at 1.00 Percent

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A couple of banks increased their CD rates this past week. California First National Bank increased their 6 month CD rate from 0.85 percent to 0.95 percent, putting them in second place in our 6 month rate database. CIT Bank increased their 2 year CD rate from 1.35 percent to 1.40 percent.

These increases were small and we won't see any major increases in deposit rates until the Federal Open Market Committee increases their key benchmark interest rate. There is a slight chance the FOMC might increase the rate during their June meeting (June 16th and 17th).



If a rate increase doesn't happen this month, July will be the next target for an increase. The FOMC will meet again on July 28th and July 29th to discuss monetary policy. May and June's employment reports will be driving factors on whether or not the rate is increased.

CD Rate Report June 1 2015Strong reports will force the FOMC to increase the federal funds rate sooner than later. Once the FOMC increases the rate, CD rates and other deposit rates will also move higher. Listed below are the best CD rates available and average CD rates for June 1, 2015. You can check for the most current rates in our rate database on MonitorBankRates.com.

2 Month CD 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 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%

  • Barclays 0.35% Yield 0.35%

  • Discover Bank 0.35% Yield 0.35%


6 Month CD Rates

  • Zions Direct 1.00% Yield 1.00%

  • California First National Bank 0.95% Yield 0.95% (increased 0.10%)

  • MyCCB 0.85% Yield 0.85%

  • Chartway Federal Credit Union 0.85% Yield 0.85%

  • Pentagon Federal Credit Union 0.81% Yield 0.81%

  • 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%


9 Month CD Rates

  • New Dominion Bank Rate 0.89% Yield 0.90%

  • AloStar Bank of Commerce Rate 0.80% Yield 0.80%

  • giantbank.com Rate 0.75% Yield 0.75%

  • Discover Bank Rate 0.70% Yield 0.70%

  • Virtual Bank Rate 0.70% Yield 0.70%

  • USAA Rate 0.66% Yield 0.66%

  • Ever Bank Rate 0.63% Yield 0.63%

  • Barclays 0.60% Yield 0.60%


1 Year CD Rates

  • Colorado Federal Savings Bank 1.34% Yield 1.35%

  • CIT Bank 1.24% Yield 1.25%

  • Synchrony Bank 1.22% Yield 1.23%

  • BankDirect 1.20% Yield 1.21%

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

  • Home Savings Bank 1.19% Yield 1.20%

  • California First National Bank 1.15% Yield 1.16%

  • Virtual Bank 1.15% Yield 1.16%

  • Sallie Mae 1.14% Yield 1.15%


18 Month CD Rates

  • Synchrony Bank 1.34% Yield 1.35%

  • Virtual Bank 1.20% Yield 1.21%

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

  • AloStar Bank of Commerce 1.14% Yield 1.15%

  • First Internet Bank of Indiana 1.10% Yield 1.10%

  • Ally Bank 1.09% Yield 1.10%


2 Year CD Rates

  • Live Oak Bank 1.50% Yield 1.50%

  • PenFed 1.40% Yield 1.41%

  • CIT Bank 1.39% Yield 1.40% (increased 0.05%)

  • Synchrony Bank 1.34% Yield 1.35%

  • Barclays Bank 1.34% Yield 1.35%

  • igobanking 1.34% Yield 1.35%

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

  • California First National Bank 1.29% Yield 1.30%

  • Home Savings Bank 1.29% Yield 1.30%


3 Year CD Rates

  • Synchrony Bank 1.49% Yield 1.50%

  • Lone Star Bank 1.49% Yield 1.50%

  • Capital One 360 1.49% Yield 1.50%

  • First Internet Bank of Indiana 1.45% Yield 1.46%

  • Barclays Bank 1.44% Yield 1.45%

  • Discover Bank 1.44% Yield 1.45%

  • EverBank 1.44% Yield 1.45%

  • PenFed 1.40% Yield 1.41%


4 Year CD Rates

  • Nationwide Bank 1.84% 1.86% Yield

  • Barclays Bank 1.83% Yield 1.85%

  • CIT Bank 1.80% Yield 1.82%

  • Virtual Bank 1.77% Yield 1.78%

  • EverBank 1.76% Yield 1.78%

  • Capital One 360 1.75% Yield 1.76%

  • Discover Bank Rate 1.74% Yield 1.76%

  • Synchrony Bank Rate 1.73% Yield 1.75%


5 Year CD Rates

  • Synchrony Bank 2.23% Yield 2.25%

  • Barclays Bank 2.23% Yield 2.25%

  • Capital One 360 2.18% Yield. 2.20%

  • First Internet Bank of Indiana Rate 2.10% Yield 2.12%.


Average Bank CD Rates June 1, 2015:

  • 3 Month Average Rate 0.25% (unchanged)

  • 6 Month Average Rate 0.56% (down 0.01%)

  • 12 Month Average Rate 1.00% (up 0.03%)

  • 24 Month Average Rate 1.19% (up 0.04%)

  • 60 Month Average Rate 1.67% (down 0.04%)

 
Author: Brian McKay
June 2nd, 2015