Highest CD Rates This Week May 23

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The best CD rates on 1 year certificates of deposit moved higher since our last report on May 9th. The best 1 year bank CD rate is now at 1.09 percent with an APY of 1.10 percent. The bank offering the best rate right now is GE Capital Retail Bank. The old best rate was slightly lower at 1.06 percent with an APY of 1.07 percent.

We seen some banks increase their CD rates the past couple of months in anticipation of higher interest rates coming. The Federal Reserve is expected to increase the fed funds rate sometime in 2015. Banks are probably trying to lock in deposits at today's lower rates.



If you're searching for the top CD rates make sure to stay invested in shorter term certificates of deposit of 1 year or less. That way you can take advantage of higher CD interest rates when they do arrive, which they will sometime in 2015.

Listed below are the highest CD rates for the week ending May 23, 2014.

Highest 3 Month Bank CD Rates

  • EverBank Rate 0.45% APY 0.45%

  • AloStar Bank of Commerce Rate  0.45% APY 0.45%

  • Virtual Bank Rate 0.40% APY 0.40%

  • Barclays Bank Rate 0.35% APY 0.35%

  • Discover Bank Rate 0.35% APY 0.35%

  • First Internet Bank of Indiana Rate 0.35% APY 0.35%

  • Ally Bank Rate 0.30% APY 0.30%


Best 6 Month CD Rates

  • Zions Direct CD Rates 1.00% APY 1.00%

  • Doral Direct CD Interest Rates 0.87% APY 0.87%

  • AloStar Bank of Commerce Interest Rate 0.75% APY 0.75%

  • GE Capital Retail Bank Rates 0.70% APY 0.70%

  • First Internet Bank of Indiana CD Rates 0.70% APY 0.70%


  • EH National Bank CD Rates 0.70% APY 0.70%

  • My e-BAnC by BAC Florida Bank Rates 0.70% APY 0.70%


Top 1 Year Bank CD Rates

  • GE Capital Retail Bank Interest Rates 1.09% APY 1.10%

  • Virtual Bank Rates 1.06% APY 1.07%

  • EverBank Rates 1.06% APY 1.07%

  • My e-BAnC by BAC Florida Bank Rates 1.05% APY 1.06%

  • GE Capital Retail Bank Optimizer Plus Rates 1.04% APY 1.05%

  • Silvergate Bank Rates 1.01% APY 1.01%

  • California First National Bank Rates 1.00% APY 1.00%

  • Colorado Federal Savings Bank CD Rates 1.00% APY 1.00%

  • Home Savings Bank Rates 1.00% APY 1.00%

  • Salem Five Bank CD Rate 1.00% APY 1.00%

  • The Palladian PrivateBank 1.00% APY 1.00%


2 Year CD Rates at Banks

  • Virtual Bank Interest Rate 1.25% APY 1.26%

  • Salem Five Interest Rates 1.24% APY 1.25%

  • GE Capital Retail Bank Rate 1.19% APY 1.20%

  • GE Capital Retail Bank Optimizer Plus Rate 1.19% APY 1.20%

  • CIT Bank CD Rates 1.19% APY 1.20%

  • California First National Bank Interest Rate 1.19% APY 1.20%

  • Silvergate Bank CD Interest Rates 1.15% APY 1.16%


Highest 3 Year CD Rates

  • Intervest National Bank Rates 1.44% APY 1.45%

  • Sallie Mae Bank 1.44% APY 1.45%

  • EverBank Rates 1.43% APY 1.44%

  • Virtual Bank Rates 1.35% APY 1.36%

  • GE Capital Retail Bank Optimizer Plus CD Rate 1.34% APY 1.35%

  • Barclays Bank Rates 1.34% APY 1.35%

  • GE Capital Retail Bank Interest Rate 1.34% APY 1.35%

  • AloStar Bank of Commerce Rate 1.29% APY 1.30%

  • California First National Bank Rate 1.29% APY 1.30%

  • My e-BAnC by BAC Florida Bank Rates 1.29% APY 1.30%


Highest 4 Year CD Interest Rates

  • EverBank CD Rate 1.77% APY 1.79%

  • Virtual Bank CD Rate 1.77% APY 1.79%

  • GE Capital Retail Bank Optimizer Plus CD Rate 1.73% APY 1.75%

  • Nationwide Bank CD Interest Rate 1.73% APY 1.74%

  • Barclays Bank Rate 1.69% APY 1.70%

  • GE Capital Retail Bank CD Rate 1.64% APY 1.65%

  • Able Banking Rate 1.64% APY 1.65%

  • Discover Bank Rate 1.59% APY 1.60%

  • State Farm Rates 1.59% APY 1.60%


Best 5 Year Bank CD Rates

  • Virtual Bank Rate 2.28% APY 2.31%

  • GE Capital Retail Bank Optimizer Plus CD Rate 2.27% APY 2.30%

  • EverBank Rates 2.26% APY 2.29%

  • GE Capital Retail Bank Rates 2.23% APY 2.25%

  • Barclays Bank Rate 2.23% APY 2.25%

  • Sallie Mae Bank 2.08% APY 2.10%

  • State Farm Bank CD Rate 2.03% APY 2.05%

 
Author: Brian McKay
May 23rd, 2014