CD Rates Continue Upward in 2019

CD rates continue their upward momentum in 2019 as several online banks increased CD rates. Right now the best 12 month CD rate is from First Internet Bank at 2.89 percent. The minimum opening deposit for a CD account at FIB is $1,000. This CD rate from FIB is almost 500 percent higher than the current FDIC national average 12 month CD rate of 0.61 percent.The best CD rate on 6 month certificates of deposit goes to Popular Direct with a top rate of 2.49 percent. Popular Direct's 6 month CD rate is more than 700 percent higher than the FDIC national average 6 month rate of 0.34 percent. The minimum opening deposit for a Popular Direct CD account is $10,000.Moving onto 3 month CD rates, the highest rate right now is also from Popular Direct at 2.15 percent with a minimum deposit of $10,000. This 3 month CD rate from Popular Direct is more than 10 times higher than the FDIC average of 0.20 percent.


The highest 2 year CD rate right now on the rate list is from FIB at 3.07 percent with an APY of 3.11 percent. The minimum opening balance for the 2 year CD is also $1,000. FIB's 2 year CD rate is more than 255 percent higher than the FDIC average of 0.82 percent. Popular Direct also holds the top spot for the best 3 year CD rate right now at 3.30 percent. The current FDIC average 3 year CD rate is much lower at 0.96 percent. The best CD rate on 5 year CDs also goes to Popular Direct with a rate of 3.54 percent and a yield of 3.60 percent. The current FDIC national average rate is also much lower at 1.25 percent.