CD Rates Move Higher This Week, Average 1 Year Rates Now at 1.00 Percent
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.
In 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%
By visiting this site, third parties may place cookies on users’ browsers for targeted advertising purposes. This data may be used by third parties to target digital advertising on other sites and networks based off of your activity. MonitorBankRates.com is an advertising-supported web publisher and comparison rate service. MonitorBankRates.com is compensated for placement of sponsored products when ads are clicked. This compensation may impact how and where products appear on this website. Not all companies or their products are listed.