Find Certificate of Deposit - CD Rates in Your Area

Bank of America (NYSE: BAC), which just reported a $9.1 billion loss in the second quarter because of a $8.5 billion settlement with investors, is offering CD rates which are lower than the national average rates.

Current 12 month (12 to 17 month) bank CD rates at Bank of America are 0.45% with a CD yield of 0.45%. The current national average 12 month rate is higher at 0.53% as reported by MonitorBankRates.com.

Find the highest CD rates at banks and credit unions by searching our rate tables here: Best CD Rates.

Other Bank of America CD rates are also lower than the averages. 2 year ( 24 to 35 months) Bank of America CD interest rates are at 0.60% while the 2 year national average rate is 0.85%.

Bank of America is offering some CD rates higher than the national average. 3 month (90 to 179 days) bank CD rates are at 0.28% while the national average is less at 0.24%.

5 year (60 to 119 months) CD rates at Bank of America are at 1.78% while the 5 year national average rate is at 1.74%.

Right now on our 3 month bank CD rates list in Montgomery, Alabama, Tennessee Commerce Bank has the highest CD rate. The current 3 month CD rate and CD yield at Tennessee Commerce Bank is at 0.55%. That CD interest rate is much higher than the national average 3 month rate at 0.24%.

You can find the best CD rates at banks and credit unions by searching our rate tables here: Best CD Rates.

The second highest CD rate on our list in Montgomery is from both Discover Bank and Nationwide Bank. Both banks are offering 90 day CD rates at 0.50% with an APY of 0.50%.

The third highest rate on our list of interest rates is from First Internet Bank of IN and Giantbank. Both banks are offering 3 month rates and CD yields at 0.45%.

The fourth best CD bank rate on our list is from Ally Bank. Ally is offering 3 month bank CD rates at 0.44% with a CD yield of 0.44%.

Rounding out the top 5 CD bank rates is Everbank. The bank’s current 3 month rate and yield is at 0.40%.

CD rates higher? That’s right, what seems to be a more frequent trend we are reporting that another bank, Bank of Internet, has raised their CD rates. Bank of Internet is an online bank based in San Diego.

The bank raised rates a couple of weeks ago to top E-loan’s CD rates and did it again today. 12 month bank CD rates are currently at 1.32% with a CD yield of 1.33%. This is up from a rate of 1.26% and a yield of 1.27%.

The old 12 month rate was one of the best CD rates available and the new rate is even better. You can get this rate and yield on 12 month to 23 month certificate of deposit accounts.

I have to tell you its nice to report on higher CD rates since we’ve had to report on banks and credit unions lowering rates for the past several years.

The bank’s 3 month to 5 month rate and yield is 0.35% which isn’t one of the highest rates available. The bank’s 6 month (6 to 11 month) CD rate is a great deal. The new 6 month rate is 1.14% with a yield of 1.15%. That rate is better than most 12 month CD rates at banks.

You can view a full list of Bank of Internet’s CD rates and apply for a CD account at the bank’s website: Bank of Internet CD Rates and CD Application.

The Farmers & Merchants Bank of Adamsville, TN, is offering one of the best CD rates available right now in TN or any other state. The Farmers & Merchants Bank’s current 12 month CD rates are at 1.35%. That rate is considerably higher than the current national average 1 year CD rate of 0.54% as reported by Monitor Bank Rates.

You probably haven’t hears of The Farmers & Merchants Bank but they have been around for a long time and deposits have been insured by the FDIC since 1934. The bank’s FDIC cert number is 9188.

Other bank CD rates at The Farmers & Merchants Bank are not as good as the bank’s 12 month CD rate. For example, 5 year CD interest rates are only at 1.80%. That rate is better than a lot of rates but you can get 5 year interest rates as high as  2.77%.

To find out more about opening a certificate of deposit account at the bank contact them here: The Farmers & Merchants Bank CD Rates.

Ally Bank one of bank’s that consistently has some of the best bank CD rates just introduced a new certificate of deposit product. Ally Bank is now offering a 4 year Raise Your Rate CD, that has a current bank CD rate of 1.97% with a CD yield of 1.99%. The bank’s regular High Yield 3 year CD rate is 1.73% with an APY of 1.75%. Ally Bank’s 2 year Raise Your Rate CD has a current CD rate of 1.43% with an  APY of 1.44%.

Find the best CD rates at banks and credit unions by searching our CD rate tables at CDRates.MonitorBankRates.com.

CD rates at all banks are considerably lower these days, back in 2009 when we first reported on Ally Bank’s CD rates 4 year rates were at 3.20% with an APY of 3.25%.

Here are some of the Raise Your Rate CD Features:

Open with $0
No monthly fees
One interest rate increase with the 2 year term
Two interest rate increases with the 4 year term
Personalized Raise Your Rate alerts to let you know when rates go up
Ally Ten Day Best Rate Guarantee
Daily compound interest
FDIC insured to the maximum allowed by law. Automatic renewal at maturity.

Here is a list of Ally’s current High Yield CD rates:

3 months 0.49% Yield 0.49%
6 months 0.94% Yield 0.94%
9 months 0.95% Yield 0.95%
12 months 1.19% Yield 1.2%
18 months 1.28% Yield 1.29%
3 years 1.73% Yield 1.75%
5 years 2.31% Yield 2.34%

Find out more about Ally Bank’s CDs here: Ally.com. You can search our CD rate lists of the highest CD rates in your state from many different banks and credit unions.