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Average 1 Year CD Rates Increase to 0.90 Percent, Best 1 Year Rates Increase to 1.07 Percent

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This is a first in a very long time, both average 1 year CD rates and the best 1 year CD rates in our database are higher this week. Average 1 year CD rates increased from 0.88 percent to 0.90 percent and the highest 1 year rate offered by banks in our database increased from 1.05 percent to 1.07 percent.

In the coming years CD rates will be moving higher. After 6 years of watching banks and credit unions lower rates the wait for higher rate is agonizing. The vast majority of banks and credit unions won't increase their deposit rates until the Federal Open Market Committee increases the federal funds rate. A higher fed funds rate isn't expect to the summer or fall of 2015.



The new top CD rate of 1.06 percent in our 1 year certificate of deposit rate is from Virtual Bank. This bank also increased their 2 CD rates to 1.25 percent with an APY of 1.26 percent, overtaking Salem Five with the best 2 year rate in our database. Virtual Bank has a minimum opening deposit of $10,000 for their 1 year and 2 year CD accounts.

If you don't have $10k to deposit into a CD account you can get the second best 1 year rate on our list. GE Capital Retail Bank and AbleBanking are both offering 1 year CD rates with an APY of 1.05% GE Capital Retail Bank's minimum opening deposit is $500 and AbleBanking's minimum opening deposit is $1,000.

Below is a list of the highest 1 year CD rates this week.

Highest 1 Year CD Rates

  • Virtual Bank Rate 1.06% APY 1.07%

  • GE Capital Retail Bank Rate 1.04% APY 1.05%


  • ableBanking, a division of Northeast Bank Rate 1.05% APY 1.05%

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


  • Silvergate Bank Rate 1.01% APY 1.01%


  • My e-BAnC by BAC Florida Bank Rate 1.00% APY 1.01%


  • California First National Bank Rate 1.00% APY 1.00%

  • Colorado Federal Savings Bank Rate 1.00% APY 1.00%


  • Home Savings Bank Rate 1.00% APY 1.00%

  • Salem Five Rate 1.00% APY 1.00%


  • The Palladian PrivateBank Rate 1.00% APY 1.00%


  • AloStar Bank of Commerce Rate 0.99% APY 1.00%

  • Ally Bank Rate 0.99% APY 0.99%


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Author: Brian McKay
April 23rd, 2014