During mid-December, we found that CD rates across several terms have dipped slightly since last year. Although credit unions continue to take the lead in terms of offering the best average CD rates, banks follow closely behind.
CD Rate Averages as of 12/11/13
Average CD Rates – Dec. 2013 Vs. 2012
|Product||National Average||National – 2012||Banks||Banks – 2012||Credit Unions||CUs – 2012|
10 Best CD Rates in the United States
In reviewing the best CD rates offered by U.S. banks and credit unions for the three terms listed above, the highest yields are predominantly offered on 24-month accounts. Additionally, credit unions provide a majority of the best certificate of deposit rates ranked in the following list, with only three banks making the top 10.
|Westmark Credit Union||ID||24-Month CD||1.51% APY|
|America’s Credit Union||WA||12-Month CD||1.51% APY|
|Doral Bank||NY||24-Month CD||1.45% APY|
|Pentagon Federal Credit Union||VA||24-Month CD||1.41% APY|
|Kauai Community Federal Credit Union||HI||24-Month CD||1.40% APY|
|Members Cooperative Credit Union||MN||24-Month CD||1.40% APY|
|Regal Bank||NJ||24-Month CD||1.36% APY|
|Idaho Central Federal Credit Union||ID||24-Month CD||1.31% APY|
|Doral Bank, FSB||FL||24-Month CD||1.30% APY|
|Optima Bank and Trust||NH||24-Month CD||1.30% APY|
Sources: GoBankingRates.com and Informa Research Services, Inc. (www.informars.com). Although the information has been obtained from the various financial institutions, the accuracy cannot be guaranteed.
All interest rates are accurate as of December 11, 2013. Rates are subject to change at any time at the discretion of individual financial institutions. Additional terms and restrictions could apply. Verifying rates with bank/credit union before opening an account is strongly encouraged.