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