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CD Rates: Average Rates on Certificates of Deposit Decline Again This Week

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Just as you thought CD rates couldn't possibly head any lower, they did. Rates have been going lower since just over two years ago when the financial crisis and the great recession started and continue to head lower into 2011.  We anticipate rates increasing later in 2011 as the economy picks up steam and the Fed raises interest rates. Average CD rates on all certificate of deposit terms were lower this week except for rates on 24 month certificates of deposit.

The current national 12 month rate is averaging 0.679 percent this week, down from the previous week's average 12 month rate of 0.698 percent. Looking back to August 2009 the average 12 month CD rate was nearly double today's average. Back then the current 1 year average rate was 1.274 percent.

These rates are average rates, so you can find rates a lot higher than the national average. Right now our CD rates list Bank of Internet USA is offering 1 year CD rates at 1.40 percent with yields at 1.41 percent. Discover Bank and Sallie Mae Bank are offering 1 year interest rates at 1.29 percent with yields at 1.30 percent.

Shorter term CD rates are also lower this week. The current average 3 month CD rate is at 0.266 percent, down from the previous week's average rate of 0.278 percent. 6 month CD interest rates are averaging 0.427 percent, down from the prior week's average 6 month rate of 0.442 percent.

Average Rates on Certificates of Deposit

  • 3 Month CD Interest Rates – 0.266%

  • 6 Month Rates – 0.427%

  • 12 Month Rates – 0.678%

  • 18 Month Rates – 0.778%

  • 24 Month Rates – 1.006%

  • 36 Month Rates – 1.308%

  • 48 Month Rates – 1.551%

  • 60 Month Rates – 1.814%

You can find the best CD rates in your state or zip code by searching our CD rate tables.
Author: Brian McKay
January 22nd, 2011