To our surprise CD rates jumped higher this week over last week. For the past year CD rates have been slowly going lower, the trend started when the credit crisis hit us in the fall of last year.
To ease the crisis, the government’s TARP program gave banks a cheaper alternative to funds instead of enticing depositors with higher CD rates and savings account rates.
Find CD Rates in your area by searching our CD Rate Tables.
Both shorter term CD rates and longer term CD rates are higher this week. The national average 3-months CD rate is at 0.716 percent this week, up from last week’s average rate of 0.666 percent.
The average 6-months certificate of deposit rate is at 1.057 percent this week, up from the prior week’s average CD rate of 0.950 percent. You can get CD rates higher than the national average, currently First Century Bank is offering a 6-months CD rate of 1.75 percent.
| Description | This Week | Last Week |
| CD (Certificates of Deposit) – 3 Month; $1 – $10,000 | 0.716% | 0.666% |
| CD (Certificates of Deposit) – 6 Month; $1 – $10,000 | 1.057% | 0.950% |
| CD (Certificates of Deposit) – 12 Month; $1 – $10,000 | 1.458% | 1.234% |
| CD (Certificates of Deposit) – 18 Month; $1 – $10,000 | 1.606% | 1.390% |
| CD (Certificates of Deposit) – 24 Month; $1 – $10,000 | 1.874% | 1.672% |
| CD (Certificates of Deposit) – 36 Month; $1 – $10,000 | 2.241% | 1.967% |
| CD (Certificates of Deposit) – 48 Month; $1 – $10,000 | 2.391% | 2.187% |
| CD (Certificates of Deposit) – 60 Month; $1 – $10,000 | 2.676% | 2.455% |
12-months certificate of deposit rates jumped up almost a quarter percent to 1.458 percent from 1.234 percent. OneWest Bank has one of the best CD rates currently available for a 12-months CD, the bank’s rate is at 2.08 percent and the yield is 2.10 percent.
The average rate for an 18-months certificate of deposit is currently at 1.606 percent, up from the previous week’s average CD rate of 1.390 percent. Nationwide Bank is offering an 18-months bank CD rate of 2.20 percent.
24-months certificate of deposit rates are up to 1.874 percent this week, an increase from last week’s average CD rate of 1.672 percent. E-loan is offering a 24-months CD rate of 2.37 percent.
The average 36-months certificate of deposit rate is at 2.241 percent this week, up from the prior week’s average rate of 1.967 percent. Currently, Discover Bank is offering a rate of 2.75 percent for a 3-year certificate of deposit.
48-months certificate of deposit rates are averaging 2.391 percent this week, up from the prior week’s average CD rate of 2.187 percent. Discover Bank is also offering one of the highest CD rates for a 4-year CD, the bank’s current rate is 3.10 percent.
The average 60-months certificate of deposit rate is up to 2.676 percent this week, up from last week’s national average CD rate of 2.445 percent. Ally Bank is offering a 5-year bank CD rate of 3.30 percent.
Let’s hope this uptrend in interest rates continues, it’s nice to be able to write about CD rates going up for a change.
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