CD Rates Move Higher This Week, Average 1 Year Rates Now at 1.00 Percent

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CD rates are on the move again this week as banks and credit unions increase rates. Higher CD rates have driven average 1 year CD rates above 1.00 percent last week, which is the highest for average 1 year rates in several years. Average 1 year rates fell 1 basis point to 1.00 percent this week but the average rate will move higher in the coming weeks and months.

CD Rates Move Higher Again This Week Average 1 Year Rates Now at 100 PercentIn the rate database for 1 year certificates of deposit there are now 18 banks and credit unions offering 1 year rate at or above 1.00 percent. The best 1 year CD rate this week is from a credit union, Pentagon Federal Credit Union (PenFed), at 1.20 percent with an APY of 1.21 percent. The top rate from a bank for a 1 year CD is from CIT Bank at 1.11 percent with an APY of 1.12 percent.



Listed below are the best CD rates for certificate of deposit terms ranging from 6 months to 5 years.

6 Month Rates

  • Doral Direct 0.87%

  • Chartway Federal Credit Union 0.85%

  • EH National Bank 0.80%

  • First Internet Bank of Indiana 0.70%

  • GE Capital Bank 0.70%

  • My e-BAnC by BAC Florida Bank 0.70%

  • ableBanking, a division of Northeast Bank 0.70%


1 Year Rates

  • Pentagon Federal Credit Union 1.20% APY 1.21%

  • CIT Bank 1.11% APY 1.12%

  • Synchrony Bank Optimizer Plus 1.09% APY 1.10%

  • BankDirect 1.09% APY 1.10%

  • GE Capital Bank 1.09% APY 1.10%

  • My e-BAnC by BAC Florida Bank 1.09% APY 1.10%

  • ableBanking, a division of Northeast Bank 1.09% APY 1.10%

  • Colorado Federal Savings Bank 1.09% APY 1.10%


2 Year Rates

  • Chartway Federal Credit Union 1.50% APY 1.50%

  • Nationwide Bank 1.32% APY 1.33%

  • Pentagon Federal Credit Union 1.30% APY 1.31%

  • CIT Bank 1.29% APY 1.30%

  • Home Savings Bank 1.26% APY 1.27%

  • ableBanking, a division of Northeast Bank 1.26% APY 1.27%

  • HeritageWest Credit Union 1.25% APY 1.26%

  • Bank Direct 1.24% APY 1.25%

  • First Internet Bank of Indiana 1.24% APY 1.25%

  • Salem Direct 1.24% APY 1.25%

  • Ally Bank 1.19% APY 1.20%

  • Synchrony Bank Optimizer Plus 1.19% APY 1.20%

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


3 Year Rates

  • Chartway Federal Credit Union 1.50% APY 1.51%

  • Nationwide Bank 1.49% APY 1.50%

  • CIT Bank 1.44% APY 1.45%

  • Sallie Mae 1.44% APY 1.45%

  • Bank Direct 1.44% APY 1.45%

  • Barclays Bank 1.44% APY 1.45%

  • State Farm Bank 1.44% APY 1.45%

  • First Internet Bank of Indiana 1.39% APY 1.40%

  • iGObanking.com 1.39% APY 1.40%

  • giantbank.com 1.36% APY 1.37%


5 Year Rates

  • Chartway Federal Credit Union 2.50% APY 2.52%

  • Nationwide Bank 2.29% APY 2.32%

  • Synchrony Bank Optimizer Plus 2.27% APY 2.30%

  • GE Capital Bank 2.23% APY 2.25%

  • Barclays Bank 2.23% APY 2.25%

  • State Farm Bank 2.13% APY 2.15%

  • PenFed 2.10% APY 2.12%

  • Discover Bank 2.08% APY 2.10%


 

 
 
Author: Brian McKay
October 31st, 2014