Current CD Rates April 12, 2013

Both average CD rates and the best CD rates available barely moved this past month as the Federal Reserve Open Market Committee (FOMC) continues to keep a lid on rates moving higher. The most recent FOMC meeting minutes were released this week which showed the Fed plans to continue down the path of low interest rates for the foreseeable future.1 year CD rates at banks as reported by MonitorBankRates.com this week are averaging 0.63 percent, unchanged from last week's average CD rates. The FDIC's weekly National Rates and Rate Cap survey has 1 year bank CD rates averaging even lower at 0.22 percent. The highest CD rates on 1 year certificates of deposit are also unchanged this week at 1.04 percent with an APY of 1.o5 percent.The bank on our rate tables offering 1.04 percent rate on 1 year CD accounts this week is GE Capital Retail Bank. The second highest 1 year CD rate on our list this week is from three different banks. Colorado Federal Savings Bank, Home Savings Bank, and OneWest Bank FSB are all offering 1 year CD interest rates at 1.00 percent with an APY of 1.00 percent.


For 2 year CD rates this week, we see the average rate reported by MonitorBankRates.com is at 0.67 percent, up 3 basis points from last week's average 2 year CD rate. The FDIC average 2 year CD rate this week is much lower at 0.35 percent. The best 2 year rates on our rate list are also changed this week at 1.19 percent with an APY of 1.20 percent. The bank offering that rate and yield on our tables this week is CIT Bank. Average 5 year CD rates this week are also higher over last week. The current average 5 year CD rate is at 1.23 percent, up from last week's average 5 year rate of 1.20 percent. The best 5 year CD rates in our rate database this week are from Barclays Bank at 1.83 percent with an APY of 1.85 percent.