Highest CD Bank Rates November 1, 2012: Best 1 Year Rate at 1.10%, Best 2 Year Rate at 1.25%

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Average CD rates remain stable this week as Hurricane Sandy caused widespread descruction in New Jersey and New York City. The equities markets were closed two days this week because of the hurricane. The FDIC's average 1 year bank CD rates are at 0.25 percent this week with 1 year CD rate cap at 1.00 percent, unchanged from the prior week's average rate.

The best CD rates on 1 year certificates of deposit also remain unchanged this week. The best CD rates on 12 month certificates of deposit are still at 1.10 percent, more than 4 times the FDIC average rate and 10 basis points higher than the rate cap. The FDIC's national average 2 year CD rate fell one basis point this week to 0.41 percent with the rate cap at 1.16 percent.



The highest CD rates on 2 year certificates of deposit remained at 1.25 percent, just over 3 times the FDIC national average rate. Jumbo CD rates on both 1 year and 2 year certificates of deposit are averaging only slightly higher than regular rates. Average 1 year jumbo CD rates in the FDIC survey are averaging 0.26 percent and 2 year jumbo CD rates are averaging 0.43 percent.

Bankrate's weekly average 1 year CD rates are considerably higher than the FDIC average. 12 month CD rates at banks are averaging 0.70 percent. Bankrate's 2 year CD interest rates are also much higher than the FDIC average. 24 month CD rates are averaging 0.83 percent. Here is a list of the best CD bank rates on our 1 year and 2 year certificates of deposit rate lists.

1 Year Rates



  1. Alostar Bank of Commerce Rates 1.10% APY 1.11%

  2. CIT Bank Rates 1.09% APY 1.10%

  3. Bank of Internet USA Rates 1.09% APY 1.10%

  4. California First National Bank Rates 1.05% APY 1.06%

  5. Salle Mae Bank Rates 1.04% APY 1.05%

  6. MetLife Bank Rates 1.04% APY 1.05%

  7. Ally Bank Rates 1.03% APY 1.04%

  8. E-Loan Rates 1.02% APY 1.02%

  9. Discover Bank Rates 1.00% APY 1.00%

  10. ableBanking Rates 1.00% APY 1.00%


2 Year Rates



  1. Alostar Bank of Commerce CD Interest Rate 1.25% APY 1.26%

  2. Barclays Bank CD Interest Rate 1.24% APY 1.25%

  3. CIT Bank CD Interest Rate 1.24% APY 1.25%

  4. ableBanking CD Interest Rate 1.18% APY 1.19%

  5. Doral Bank CD Interest Rate 1.15% APY 1.16%

  6. Discover Bank CD Interest Rate 1.14% APY 1.15%

  7. Ally Bank CD Interest Rate 1.13% APY 1.14%

  8. California First National Bank CD Interest Rate 1.13% APY 1.14%

  9. GiantBank.com CD Interest Rate 1.09% APY 1.10%

  10. USAA Bank CD Interest Rate 1.09% APY 1.10%


The top 1 year CD rates and top 2 year CD rates on our rate lists are all above the average rates. You can search for and compare rates for many different certificate of deposit terms on our rate tables.
 
Author: Jason P. Jones
November 1st, 2012