CD Rates at Banks and Credit Unions March 24, 2015

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There were no big moves in CD rates week over week, though that will change in the coming months. Last week the FOMC held their two day meeting and released statements pointing to a possible fed funds rate hike in June or September.

A higher fed funds rate will send CD rates at banks and credit unions higher. Don't look for any major increases in rates. The Fed will probably hike their key benchmark interest rate by 0.25 increments which will send CD rates up in 0.25 percent increments.



The current fed funds rate is in a range of zero percent to 0.25 percent. By the end of 2015 look for the fed funds rate to be between 0.75 percent and 1.00 percent. The fed funds rate near 1.00 percent will send 1 year bank CD rates towards 2.00 percent. The best rates will probably be slightly over 2.00 percent.

CD Rates at Banks and Credit Unions March 24, 2015Listed below are the best CD rates for certificate of deposit terms of 1 month to 5 years:

1 Month Interest Rates

  • Lone Star Bank Rates 0.15%

  • Virtual Bank Rates 0.15%

  • AloStar Bank of Commerce Rates 0.10%

  • E-Loan.com Rates 0.10%


3 Month Interest Rates

  • California First National Bank Rates 0.60%

  • First Internet Bank of Indiana Rates 0.45%

  • AloStar Bank of Commerce Rates 0.40%

  • Goldwater Bank Rates 0.40%


6 Month Interest Rates

  • Zions Direct Rates 1.00%

  • California First National Bank Rates  0.85%

  • Chartway Federal Credit Union Rates 0.85%

  • My e-BAnC by BAC Florida Bank Rates 0.80%


9 Month Interest Rates

  • NewDominion Bank Rates 0.89% APY 0.90%

  • AloStar Bank of Commerce Rate 0.80% APY 0.80%

  • giantbank.com Rate 0.80% APY 0.80%

  • Discover Bank Rate 0.70% APY 0.70%

  • GE Capital Bank Rate 0.70% APY 0.70%

  • Virtual Bank Rate 0.70% APY 0.70%


1 Year Interest Rates

  • Chartway Federal Credit Union Rates 1.30% APY 1.31%

  • Connexus Credit Union Rates 1.30% APY 1.30%

  • Bank Direct Rates 1.20% APY 1.21%

  • CIT Bank Rates 1.19% APY 1.20%

  • Synchrony Bank Rates 1.19% APY 1.20%

  • Congressional Bank Rates 1.19% APY 1.20%


2 Year Interest Rates

  • CIT Bank Rates 1.34% APY 1.35%

  • Synchrony Bank Rates 1.34% APY 1.35%

  • Congressional Bank Rates 1.34% APY 1.35%

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


3 Year Interest Rates

  • Synchrony Bank Rates 1.49% APY 1.50%

  • First Internet Bank of Indiana Rates 1.45% APY 1.46%

  • Discover Bank Rates 1.44% APY 1.45%

  • Barclays Bank Rates 1.44% APY 1.45%

  • GE Capital Bank Rates 1.44% APY 1.45%


4 Year Interest Rates

  • Nationwide Bank Rates 1.88% APY 1.90%

  • CIT Bank Rates 1.85% APY 1.87%

  • Barclays Bank Rates 1.83% APY 1.85%

  • Virtual Bank Rates 1.77% APY 1.78%

  • Synchrony Bank Rates 1.73% APY 1.75%


5 Year Interest Rates

  • Synchrony Bank Rates 2.23% APY 2.25%

  • Barclays Bank Rates 2.23% APY 2.25%

  • GE Capital Bank Rates 2.23% APY 2.25%

 
Author: Brian McKay
March 24th, 2015