Highest CD Rates – Best Certificate of Deposit Rates Updated Daily

If you are unfamiliar with a Certificate of Deposit account, it is similar to a savings account in that it is insured and risk free. CD’s however are locked up for a set period of time (1 month, 3 month, 1 year, 3 years, etc). Removing your money before the end of your CD term results in penalties.

I will try and keep up with the best and highest CD rates on this page.They are different than a savings account in that a CD, has a specific, fixed term and usually a fixed interest rate. These terms are usually 3 months or 6 months but can be anywhere from 3 to 5 years or more. You are able to accrue more interest on a CD than you can a savings account at a bank because the rates tend to be higher. I will map out a few general guidelines, the avg. interest rate on a CD, and the best current rates of our bail-out friends –the banks.

Also see my commentary on high yield savings accounts, and money markets accounts.

Current Highest 12 Month CD Rates

CD Rates Dropping

These averages are dropping weekly due to the economic issues we have faced recently. The time to get a CD account is sooner rather than later as these numbers continue to see a drop. Banks CD rates are updated daily and can change overnight, so the national average may be different, but the percentage points will remain relatively close to these numbers for some time.

Current 3 Month CD Rates

CD Rates Change Daily

These rates are representative of today and could change at any time. What I have listed are also the common Fixed-rate CD accounts. There are other high-yield accounts or other accounts where you can change your interest after a period of time. Banks also offer specials for a high initial deposit, or linking your other banking operations with the CD. This chart just gives you a general idea of the leaders in CD accounts are and where to put your money.

Advantages of CD Accounts

There are many advantages to CD accounts versus a money market savings or high yield interest rates on accounts. Even experienced leaders and investors in the banking industry prefer the security offered by the low-risk of CD’s. Many banks will claim they offer the best CD rates in town. How does one decide which is stating a factual offer and which bank is blowing smoke? Two places you probably haven’t thought to check are government websites and credit unions. Credit Unions offer great interest rates on Cert. of Deposit accounts but may want a higher initial deposit than most mainstream banks.

CD interest rate guidelines

The first thing you should know is the higher your principal deposit the higher your interest rate should be. You may not, but many banks will reward you for a high amount. Depending on the Yield Curve (the relationship between the interest rate and time of maturity) you may receive a higher interest rate the longer you keep your money in the bank. If you go with a 5 year CD your CD rates may be higher. Side note: smaller institutions tend to have higher interest rates than larger ones.

CD Rates at Banks

• Chase Bank CD Rates – Chase (WAMU) has decent CD rates for current bank customers
• Bank of America CD Rates – Current B of A CD Rates
• Wachovia CD Rates – Current Wachovia Certificate of Deposit rates
• Wells Fargo CD Rates – CD Rates updated from Wells Fargo Bank
• Citibank CD Rates – Citibank (C) Current CD Rates
• Regions Bank CD Rates – Current Certifcate of Deposit rates from Regions Bank
• US Bank CD Rates – Current CD Rates at US Bank
• Suntrust CD Rates – Suntrust CD Rates
• Ally Bank CD Rates – GMAC’s new Bank: Ally Bank’s CD Rates
• 12 Month CD Rates – Current 1 year CD Rates at a number of banks
• 3 Month CD Rates – Current 3 month CD Rates
• VA Loan Rates – VA loan rates