California CD Interest Rates & CD Yields
Three years ago you could find 12 month CD rates around 3.00 percent or even higher depending on the bank or credit union. In the summer of 2008 several banks were so desperate for deposits they offered rates as high as 5.00 percent for a 12 month CD.
Although the national average 12 month CD rate is .077 percent you can find rates higher than the average. Right now on our CD interest rate table for California, Bank of Internet has the highest rate. Bank of Internet is currently offering 1 year CD rates at 1.47 percent with a CD yield of 1.48 percent. Bank of Internet's rate is one of the highest CD rates at banks and credit unions available right now.
Other banks on our list in California include the banking arm of the student loan company Sallie Mae. Sallie Mae Bank is offering 1 year bank CD rates at 1.39 percent with a CD yield of 1.40 percent. Discover Bank and Giantbank.com have the third highest California CD rate. Both banks are currently offering 1 year CD rates at 1.34 percent with a bank CD yield of 1.35 percent.
California CD Yields
Returns on certificates of deposit will be low until the economy gathers steam and the Fed starts raising the Fed funds rate. Until that time comes the best thing you can do to maximize your return is to broaden your search for the best CD rate. Think nationally, not locally, when searching for the best interest rate. MonitorBankRates.com has CD rate tables for every state in the United States. Our rate tables include local banks and national banks.