CD Rate Report November 29, 2013
You might have seen this headlines this past week that some banks are considering charging depositors for deposits. Banks are considering this, threatening if you ask me, because the Federal Reserve has mentioned cutting the 0.25 percent rate of interest on the $2.4 trillion in reserves banks hold at the Federal reserve. CD rates remain stable in this week's report, no big changes in average rates and the best CD rates available.
The CD rate reports listed below are only for shorter term certificates of deposit. We recommend staying invested in shorter term CD accounts right now because CD rates at banks will be moving higher sometime in the second half of 2014. Any long term CD accounts that are maturing between now and next year should be invested in new shorter term accounts.
3 Month CD Rate Report
Average 3 month bank CD rates this week are at 0.24 percent, unchanged from last week's average 3 month CD rate. The best CD rate on 3 month certificates of deposit in our database are still three times as high at 0.45 percent. The bank continuing to offer the highest 3 month rate is AloStar Bank of Commerce.
Highest 3 Month CD Rates
6 Month CD Rate Report
6 month CD interest rates this week are averaging 0.46 percent, up one basis point from last week's average 6 month rate of 0.45 percent. The highest CD rates on 6 month certificates of deposit in our database are still more than double the average at 1.00 percent. The bank offering that 6 month CD rate is Zions Direct.
Zions Direct isn't the only bank offering a really good 6 month rate, we have many other banks offering 6 month rates that are almost as high as 1 year rates.
Highest 6 Month CD Rates
12 Month CD Rate Report
The best 12 month CD rates available in our database right now are at 1.04 percent with an APY of 1.05 percent. This rate is higher than the national average 1 year CD rate of 0.77 percent. The bank offering the highest 1 year rate in our database is GE Capital Retail Bank.
Highest 12 Month CD Rates
CD rates are constantly fluctuating, be sure to check back with monitorbankrates.com to find the best rates available at any time.
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