Highest 1 Year Bank Certificate of Deposit Rate Increased to 1.20% APY

Follow by Email
Facebook
Google+
Twitter
LinkedIn
Synchrony Bank is the latest bank to increase certificate of deposit rates before the expected 2015 fed funds rate increase by the Federal Reserve. Synchrony Bank has increased their 1 year CD rate to 1.19 percent with an APY of 1.20 percent. This rate is now the highest 1 year rate from a bank in our database.

You can find a list of 1 year rates here: Best CD Rates



Bank Direct had the top 1 year rate for over a month at 1.16 percent with an APY of 1.17 percent. The highest 1 year rate in our database offered by a credit union is even higher at 1.30 percent with an APY of 1.30 percent. Connexus Credit Union is offering that top overall 1 year rate.

The best 2 year rate in our database remains the same this week at 1.34 percent with an APY of 1.35 percent. CIT Bank and Synchrony Bank are both offering 2 year CD rates at that rate and yield. The highest 2 year credit union CD rate is from HeritageWest Credit Union at 1.20 percent with an APY of 1.21 percent.

The best overall 3 year CD rate is higher this week. Synchrony Bank also increased their 3 year rates to 1.49 percent with an APY of 1.50 percent. The top 3 year rate in our database from a credit union is from Pentagon Federal Credit Union at 1.30 percent with an APY of 1.31 percent.

The top 5 year rate remained unchanged this week at 2.23 percent with an APY of 2.25 percent. Synchrony Bank, Barclays Bank, GE Capital Bank, and Nationwide Bank are all offering 5 year rates at 2.23 percent with an APY of 2.25 percent.
 
Author: Brian McKay
January 28th, 2015