Highest CD Rates on 12 Month Certificates of Deposit Remain Just Over 1.00 Percent

While average CD rates have continued their agonizing decline in the FDIC's National Average Rate and Cap survey this week, the highest CD rates remain just over 1.00 percent. CD rates at banks for 12 month certificates of deposit this averaged 0.25 percent for the week ending October 15, 2012. The rate cap on 1 year certificates of deposit averaged 1.00 percent. Jumbo CD rates are just as low, the average 12 month jumbo CD rate as at 0.26 percent with a cap of 1.01 percent.

The best CD rates on 1 year certificates of deposit on Monitor Bank Rates' deposit rate list this week are at 1.10 percent. AlsoStar Bank remains the lone bank offering 1 year bank CD rates at 1.10 percent with an APY of 1.11 percent. The minimum opening deposit for a CD account at AlsoStar Bank is $1,000.

The second best 12 month CD rate on our rate list is from two banks. CIT Bank CD rates and Bank of Internet CD rates on 1 year CD accounts are currently at 1.09 percent with an APY of 1.10 percent. CIT Bank's minimum deposit on a CD account is $25,000 and Bank of Internet has a minimum balance of $1,000.

As you can see the top CD rates on our rate list are more than four times the FDIC national average rate. These rates are also four times the average jumbo CD rate and higher than both rate caps. Below is a current list of the top CD rates on our 12 month certificate of deposit rate list this week:

Top 12 Month CD Rates

1. AlsoStar Bank CD Rates 1.10% APY 1.11%
2. CIT Bank CD Rates 1.09% APY 1.10%
3. Bank of Internet USA CD Rates 1.09% APY 1.10%
4. Sallie Mae Bank CD Rates 1.04% APY 1.05%
5. MetLife Bank CD Rates 1.04% APY 1.05%
6. Colorado Federal Savings Bank CD Rates 1.04% APY 1.05%
7. Ally Bank CD Rates 1.03% APY 1.04%
8. E-Loan CD Rates 1.02% APY 1.02%
9. Able Banking CD Rates 1.00% APY 1.00%
10. Discover Bank CD Rates 1.00% APY 1.00%

The top 10 bank CD rates listed on our rate table are all at least four times the current FDIC national average rate. The banks listed above and all the banks listed on our rate tables have deposits insured by the FDIC. Compare CD interest rates for all certificate of deposit terms by searching our rate lists.