2013 Top Online CD Rates: Best 2 Year CD Rate at 1.20% APY

Half of the fiscal cliff has been averted by Republicans and Democrats. The tax side of the fiscal cliff is done but believe it or not, that was the easy part. The spending side of the fiscal cliff will be harder to get done as the sequester, appropriations, and the debt ceiling all have to be dealt with over the next few months.Once we get past these hurdles (no small feat), the economy should be in very good shape for 2013 which will hopefully bring higher interest rates before mid-2015, the point at which is the Fed plans to keep the Fed funds rate at near zero percent. A Fed funds rate near zero percent until mid-2015 means deposit rates on certificates of deposit and other interest bearing assets will stay low.Right now the best CD rates on 2 year certificates of deposit are at 1.19 percent with an APY of 1.20 percent. In this week's National Rate and Rate Cap Survey released by the Federal Deposit Insurance Corporation (FDIC), average 2 year CD rates at banks are at 0.38 percent, less than one third the highest 2 year rate on our list. In fact the highest CD rates on our list is also much higher than the FDIC's 24 month jumbo CD rate of 0.40 percent. Following is a list of the best online bank CD rates on 24 month certificates of deposit this week.

Top 24 Month Online CD Rates

1. CIT Bank Rates 1.19% APY 1.20%
2. ableBanking Rates 1.18% APY 1.19%
3. Virtual Bank Rates 1.15% APY 1.16%
4. Discover Bank Rates 1.14% APY 1.15%
5. Ally Bank Rates 1.12% APY 1.13%

12 month certificate of deposit rates in the FDIC survey for the week ending December 31, 2012, are averaging 0.23 percent. Jumbo CD rates on 12 month jumbo CD accounts are slightly higher averaging 0.25 percent. The highest CD rates on our 12 month certificate of deposit rate list are at 1.04 percent with an APY of 1.05 percent.

Top 12 Month Online CD Rates

1. MetLife Bank Rates 1.04% APY 1.05%
2. Sallie Mae Bank Rates 1.04% APY 1.05%
3. able Banking Rates 1.04% APY 1.05%
4. E-Loan.com Rates 1.02% APY 1.02%
5. Discover Bank Rates 1.00% APY 1.00%

Feel free to search and compare the highest CD rates at banks for all types of certificate of deposit terms. Our rate lists include the best national CD rates and the best regional CD rates. You can search for regular CD rates, IRA CD rates and jumbo CD rates by filtering the search results.  No personal information is required to see the latest rates on cdrates.monitorbankrates.com.