We Have a New Top CD Rate on our 12 Month CD Rates List
The other bank increasing their 12 month CD rates is Ally Bank. The new Ally Bank 12 month CD rate is at 1.04 percent with an APY of 1.05 percent. Ally Bank's 12 month CD interest rate is now tied with MetLife Bank's rate, Colorado Federal Savings Bank's rate and Sallie Mae Bank's rate. All these rates about are also are much better than the FDIC national average 12 month bank CD rate of 0.25 percent.
While the increase in these bank CD rates was small, it is still nice to finally be able to report on higher CD rates after years and years of reporting on bank's lower their rates. We don't expect many more banks to increase their rates or for CD rates at banks to move significantly higher but hopefully they won't move much lower.
We also have many other banks offering 1 year bank CD rates higher than the FDIC average of 0.25 percent. The third best rate on our 12 month list right now if from CIT Bank and Bank of Internet USA. Current CIT Bank CD rates and Bank of Internet USA CD rates on 12 month certificates of deposit are at 1.09 percent with an APY of 1.10 percent. Here is a rundown of the top 1 year CD rates this week:
Top 1 year CD Rates
Feel free to search our CD rates list for the best CD rates from many different banks. We list the best rates for certificate of deposit terms ranging between 1 month and 5 years. We also list the highest jumbo CD rates for 1 year and 5 year certificates of deposit.