Bank CD Rates March 27, 2013

Average bank CD rates on 2 year and 5 year certificates of deposit were lower this week while 1 year CD rates remain unchanged. 1 year CD rates at banks are averaging 0.63 percent this week but you can find many banks offering 1 year rates well above the average. The best CD rates in our 1 year CD rate database are at 1.04 percent with an APY of 1.05 percent. The bank offering that rate and yield is GE Capital Retail Bank.

The Federal Deposit Insurance Corporation (FDIC) has average 1 year CD interest rates even lower than the average of 0.63 percent. In this week's National Rates and Rates Cap Survey released by the FDIC, average 1 year rates are at 0.22 percent - less than one fourth the best rate in our database. Average jumbo CD rates in the FDIC survey this week are not much higher, averaging 0.23 percent.

Average 2 year rates declined to 0.65 percent this week, down from last week's average 2 year rate of 0.69 percent. The FDIC has average 2 year rates at 0.35 percent, down from last week's average of 0.37 percent. The highest CD rates on 2 year certificate of deposit in our database are almost double the average at 1.15 percent with an APY of 1.16 percent. The bank offering the best 2 year rate and yield this week is Virtual Bank.

5 year CD interest rates are averaging 1.21 percent, a decline from last week's average 5 year rate of 1.25 percent. Average 5 year rates in the FDIC survey are at 0.77 percent, a decline from last week's average 5 year rate of 0.79 percent. The best 5 year rates in our database are from The National Republic Bank of Chicago at 1.85 percent with an APY of 1.87 percent.