MonitorBankRates

CD Rates Remain Stable as House Republicans to Vote to Extend Debt Ceiling for Three Months

Current CD rates are stable as house Republicans decide to vote to extend the debt ceiling for three months to avoid a nasty fight with Democrats. Thankfully, the Republicans voted to extend the debt ceiling instead of forcing budget cuts by threatening to default. Doing so would have sent markets tumbling and caused the economy to fall back into another recession.

Interest rates on certificates of deposit and other bank accounts are low now but would have gone much lower if we headed into a recession. Average 12 month CD rates at banks in the FDIC survey this week are at o.23 percent, unchanged from the prior week's average  rate. Average 12 month jumbo CD rates are slightly higher at 0.24 percent.

The best CD rates this week on our 12 month certificates of deposit rate list are at 1.04 percent, unchanged from last week's best CD rate. The sole bank offering a 1 year CD rate of 1.04 percent with an APY of 1.05 percent is Colorado Federal Savings Bank. The second best 12 month rate on our list this week is from E-Loan at 1.02 percent with an APY of 1.02 percent. Here is a list of the highest CD rates on 12 month certificates of deposit right now:

12 Month CD Rates

  • Colorado FSB Rate 1.04% APY 1.05%

  • E-Loan Rate 1.02% APY 1.02%

  • Discover Bank Rate 1.00% APY 1.00%

  • ableBanking Rate 1.00% APY 1.00%

  • OneWest Bank Rate 1.00% APY 1.00%

  • Doral Bank Rate 0.98% APY 0.98%

  • Ally Bank Rate 0.97% APY 0.97

Average 2 year bank CD rates in this week's FDIC survey are at 0.38 percent and average 2 year jumbo CD rates are higher at 0.40 percent. Average regular 2 year CD rates and 2 year jumbo rates are also unchanged in the FDIC survey this week. The best CD rates on our 2 year certificates of deposit rate list are from CIT Bank at 1.19 percent with an APY of 1.20 percent. Here is a list of the best 24 month rates this week:

24 Month CD Rates

  • CIT Bank Rate 1.19% APY 1.20%

  • ableBanking Rate 1.18% APY 1.19%

  • Discover Bank CD Rates 1.14% APY 1.15%

  • California First National Bank Rate 1.13% APY 1.14%

  • Doral Bank Rate 1.12% APY 1.13%

  • Ally Bank CD Rates 1.11% APY 1.12%

 
Author: Lisa Graham
January 22nd, 2013

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