Delaware residents looking for the best interest rates in the country may have to extend their search beyond state borders. According to the latest in Go Banking Rates’ “Best Interest Rates in Every State” series, Delaware banks and credit unions provide some of the lowest returns on certificates of deposit (CDs). In every CD category surveyed in the report, which includes 6-month, 1-year and 2-year terms, local banks and credit unions in Delaware offered average deposit rates at the bottom 10 in the list of rankings for best CD rates.
The silver lining for depositors in the state, however, comes in the form of traditional savings account rates, which average 0.27% APY, above the nation’s average rate for the same product. This finding brings the state in the top 10 states for having the highest savings rate average, and secures the 9th position for Delaware.
Deposit Account National Averages
| Account Type | Average Rate |
| 6-Month CD | 0.31% APY |
| 1-Year CD | 0.46% APY |
| 2-Year CD | 0.69% APY |
| Savings Account | 0.21% APY |
Delaware Interest Rate Averages
| Account Type | Average Rate |
| 6-Month CD | 0.25% APY |
| 1-Year CD | 0.37% APY |
| 2-Year CD | 0.54% APY |
| Savings Account | 0.27% APY |
Ranking: Delaware Rates Vs. U.S. States and Washington, D.C.
| Account Type | Ranking | |
| 6-Month CD | 44th | |
| 1-Year CD | 46th | |
| 2-Year CD |
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| Savings | 9th |
Best CD Interest Rates from Credit Unions and Banks in Delaware
| Institution | 6-Month CD Rate |
| Chestnut Run Credit Union | 0.25 |
| Delaware Alliance Credit Union | 0.25 |
| Community Powered Federal Credit Union | 0.45 |
| AIG Federal Savings Bank | 0.50 |
| Community Bank Delaware | 0.50 |
| Institution | 1-Year CD Rate |
| Delaware Alliance Credit Union | 0.45 |
| Chestnut Run Credit Union | 0.50 |
| Community Powered Federal Credit Union | 0.50 |
| Community Bank Delaware | 0.60 |
| AIG Federal Savings Bank | 0.90 |
| Institution | 2-Year CD Rate |
| Community Powered Federal Credit Union | 0.70 |
| Delaware Alliance Credit Union | 0.70 |
| Chestnut Run Credit Union | 0.75 |
| Community Bank Delaware | 0.85 |
| AIG Federal Savings Bank | 1.00 |
Delaware Banks and Credit Union Savings Account Rates
| Institution | Savings Rate |
| Community Bank Delaware | 0.15 |
| Chestnut Run Credit Union | 0.25 |
| Community Powered Federal Credit Union | 0.38 |
| HSBC Trust Company (Delaware), National Association | 0.50 |
| Delaware Alliance Credit Union | 1.05 |
About This Delaware Interest Rates Study
The institutions included in the study are local banks and credit unions with branches exclusively located in Delaware, as well as institutions with headquarters within the state. Since the study focuses on local interest rate data, rates from national financial institutions are not included in the study.
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With interest rates constantly changing, it’s important that those seeking out an account from any bank or credit union listed first verify rates with individual institutions prior to activating an account.
(Image: Happening Mag)
