Top 12 Month CD Rates

Average bank CD rates were down again this week but bank CD rates should start heading up later this year. The Federal Open Market Committee (FOMC) meets tomorrow and Thursday to decide the direction of interest rates. The FOMC is expected to keep interest rates in the low targeted range of zero percent to one quarter percent for now.

Looking for CD Rates? Find the best CD rates here. Search for Current CD Rates.

The Fed's next three meetings occur in mid March, late April and late June. We anticipate the Fed will start raising the Fed funds rate by the June meeting if the economic recovery continues. When the Fed starts raising rates, banks will follow suit and raise CD rates, savings account rates and mortgage rates.

The current average 12 month certificate of deposit rate is 1.01 percent. Following is a list of the top CD rates in New York City above the national average rate.

UFB Direct  1.86% APY Min $8000

Eastbank  1.75% APY Min $2500

Discover Bank  1.75% APY Min $2500

Giantbank.com  1.71% APY Min $2500

Ally Bank  1.70% APY Min $ 1

Nationwide Bank  1.70% APY Min $10000

Maspeth Federal S&L  1.70% APY Min $1500

Broadway National Bank  1.67% APY Min $500

Bank of Internet USA  1.65% APY Min $1000

First Central Savings Bank  1.65% APY Min $500

ING DIRECT  1.60% APY Min $ 1

AIG Bank  1.60% APY Min $2500

Tennessee Commerce Bank  1.60% APY Min $2500

EverBank 1.56% APY Min $1500

American Express Bank FSB  1.50% APY Min $ 1

Bay Ridge Federal Credit Union  1.50% APY Min $500

Marathon National Bank  1.50% APY Min $1000

Bridgehampton National Bank  1.50% APY Min $1000

Brooklyn FSB  1.50% APY Min $1000 1.50%

Ridgewood Savings Bank  1.35% APY Min $500

Cross County Federal Savings  1.35% APY Min $500

Great Eastern Bank  1.31% APY Min $2500

Intervest National Bank  1.30% APY Min $2500

Allstate Bank  1.30% APY Min $1000

Community Fed Svngs Bank  1.30% APY Min $500

State Bank Long Island  1.30% APY Min $2500

PenFed 1.25% APY Min $1000 1.25%

First Internet Bank of IN  1.25% APY Min $1000

HSBC Direct  1.25% APY Min $1000

Ponce de Leon FSB  1.25% APY Min $1000

Astoria Federal Savings  1.25% APY Min $500

American Community Bank  1.25% APY Min $1000

Carver Federal Savings Bank  1.25% APY Min $2500

Bank of Smithtown  1.20% APY Min $2500

Suffolk County National Bank  1.16% APY Min $2500

Ameriprise Bank FSB  1.15% APY Min $2500

North Fork Bank  1.15% APY Min $500

Banco Popular  1.15% APY Min $10000

BankDirect  1.11% APY Min $10000

Flatbush Federal S&L  1.11% APY Min $500

E-LOAN.com  1.10% APY Min $10000

First National LI  1.10% APY Min $1000

Roslyn Savings Bank  1.10% APY Min $500

Citibank  1.01% APY Min $10000

New York National  1.01% APY Min $2500

Looking for CD Rates? Find the highest CD rates here. Search for the Top CD Interest Rates.