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Top One Year CD Rates – February 9, 2010

top-one-year-cd-rates-february-9-2010The average 12 month CD rate was up this week over last week. In fact, all certificate of deposit terms were higher with the exception of 6 month CD rates. A nice change of pace since CD rates have been heading down for over a year now.The Federal Open Market Committee (FOMC) recently decided to keep the Fed funds rate in a targeted range of zero percent to one quarter percent which we expected. That being said, we were surprised to see CD rates higher in this week's CD rates report.Looking for CD Rates? Find the best CD rates here. Best CD Rates.

The FOMC will meet again in mid March, late April and late June. We believe the Fed will start raising the Fed funds rate by the June meeting although that could change if the economic recovery is slower than expected. The current average 12 month certificate of deposit rate is 1.076  percent this week, up from the previous week's average 12 month CD rate of 1.008 percent. Here is a list of the top CD rates in Newark, New Jersey above and below the national average rate:

CD Rates Above the Average Rate

UFB Direct  1.81% APY Min $8000     Bay Ridge Federal Credit Union  1.75% APY Min $500     Tennessee Commerce Bank  1.70% APY Min $2500     Discover Bank  1.70% APY Min $2500  1.66% APY Min $2500      Ally Bank 1.65% APY Min $ 1    EverBank 1.60% APY Min $1500   AIG Bank  1.60% APY Min $2500     Hudson City Savings Bank  1.55% APY Min $500      Boiling Springs Savings Bank  1.55% APY Min $1000      ING DIRECT  1.50% APY Min $ 1    American Express Bank FSB  1.50% APY Min $ 0      Nationwide Bank  1.50% APY Min $10,000      Bogota Savings Bank  1.50% APY Min $1000       Kearney Federal Savings Bank  1.50% APY Min $500     Manasquan Saving Bank  1.50% APY Min $500    Bank of Internet USA  1.40% APY Min $1000     Haven Savings Bank  1.40% APY Min $100     Oritani Savings  1.40% APY Min $1000      Allstate Bank  1.30% APY Min $1000     PenFed  1.25% APY Min $1000 1.25% APY Min $1000      First Internet Bank of IN  1.25 APY Min $1000     HSBC Direct  1.25% APY Min $1000 1.25% APY Min $1000      Investors Savings Bank  1.25% APY Min $500       Columbia Bank  1.25% APY Min $500 1.25% APY Min $500      Community Bank of Bergen County  1.21% APY Min $1000     BankDirect  1.11% APY Min $10,000     

CD Rates Below the Average Rate

Ameriprise Bank FSB  1.05% APY Min $2500  1.00% APY Min $10,000      Citibank  0.95% APY Min $10000       Valley National Bank  0.80% APY Min $500       NVE Savings Bank  0.70% APY Min $1000       Bank of America  0.65% APY Min $10,000      PNC Bank  0.60% APY Min $1000      Sovereign Bank  0.55% APY Min $10,000 Capital One  0.50% APY Min $5000       Bank of America  0.40% APY Min $10,000      Wachovia Bank  0.40% APY Min $10,000       Zions Bank  0.30% APY Min $1000       Chase  0.20% APY Min $10,000       Chase  0.20% APY Min $10,000       E*TRADE Bank  0.10% APY Min $1000 Find the highest bank CD rates here. Highest Bank CD Rates
Author: Brian McKay
February 9th, 2010
Posted in: CD Rates