CD Rates National Average Rates and Best Rates

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National average CD rates haven't moved much this week which isn't a surprise since rates are so low. The current national average 1 year CD rate is at 0.70 percent. The FDIC's national average 1 year rate is even lower at 0.28 percent and the FDIC's average jumbo CD rate is for 1 year CDs is at 0.30 percent. Of course you can find bank CD rates higher than the averages.


The highest CD rates on our 1 year rate list are above 1.00 percent. The highest CD rate on our list today is from Doral Bank. The bank is currently offering 1 year CD interest rates at 1.14 percent with an APY of 1.15 percent.


Other top 1 year CD rates on our list include CIT Bank which has 1 year rates at 1.09 percent with an APY of 1.10 percent for account balances of $25k or more. Account balances less than $25k earn a CD rate of 1.04 percent with an APY of 1.05 percent (minimum opening balance of $1k).




The best CD rates on 2 year certificates of deposit on our list are almost three times the FDIC's national average 2 year rate of .046 percent. Barclays Bank CD rates and CIT Bank CD rates for two year CDs are at 1.24 percent with an APY of 1.25 percent.


Barclays online savings accounts don't have a minimum opening deposit and CIT Bank's Achiever CD accounts have a minimum opening deposit of $25k. CIT Bank is also offering a regular term CD account with 2 year CD rate of 1.19 percent with an APY of 1.20 percent (minimum opening deposit is only $1k).


The highest CD rates at banks on our 3 year CD rate list are above 1.30 percent and the FDIC's national average 3 year CD rate is less than half at 0.64 percent.


The best 3 year CD rate on our list is from Doral Bank at 1.49 percent with an APY of 1.50 percent with a minimum opening balance of $2,500. Barclays Bank has the second highest 3 year CD rate on our list at 1.44 percent with an APY of 1.55 percent. There is no minimum opening account balance.


The third best CD interest rate on our list is from CIT Bank. Current CIT Bank CD rates on 3 year CDs are at 1.41 percent with an APY of 1.42 percent. The minimum opening balance for a CIT Bank CD account is $1,000.


Moving onto 5 year CD rates we see the FDIC's national average 5 year rate is at 1.06 percent. The best 5 year CD rates on our list is also from Barclays Bank. The current 5 year rate at Barclays is 1.78 percent with an APY of 1.80 percent. Three banks have the second best 5 year CD rate on our list at 1.73 percent with an APY of 1.75 percent.


Third Federal Savings and Loan, EverBank and Discover Bank are all offering 60 month rates at 1.73 percent with an APY of 1.75 percent. Third Federal has a minimum opening deposit of $500, EverBank's minimum is $1,500 and Discover Bank's minimum is $2,500.


 
Author: Robert Till
June 25th, 2012