Average CD Rates and Highest CD Rates July 5, 2012

Heading into July average CD rates are still low but some average rates are higher this week. Of course the increases weren't much but its nice to see average rates moving slightly higher on some CD terms. The biggest move up was on 1 year bank CD rates which are averaging 0.79 percent this week, up from last week's average of 0.75 percent.

There are CD rates higher than the averages. The best 1 year CD rate on our list is from Doral Bank at 1.14% with an APY of 1.15%. CIT Bank 1 year CD rates are also considerably better than the averages at 1.09% with an APY of 1.10%.

Top 10 One Year CD Rates

1. Doral Bank Rate 1.14% APY 1.15%
2. CIT Bank Rate 1.09% APY 1.10%
3. MetLife Bank Rate 1.04% APY 1.05%
4. Colorado FSB Rate 1.04% APY 1.05%
5. EH National Bank Rate 1.03% APY 1.03%
6. Ally Bank Rate 1.01% APY 1.02%
7. AloStar Bank of Commerce Rate 1.01% APY 1.01%
8. Barclays Bank Rate 1.00% APY 1.00%
9. AbleBanking Rate 1.00% APY 1.00%
10. Discover Bank Rate 0.90% APY 0.90%

Average 2 year CD bank rates are also higher this week at 0.82 percent, up from last week's average of 0.81 percent. There are 2 year CD interest rates higher than the averages.

Two banks, CIT Bank and Barclays Bank are both offering 2 year CD rates at 1.24 percent with an APY of 1.25 percent. Metropolitan National Bank has the second best 2 year rate on our list at 1.16 percent with an APY of 1.16 percent.

Top 10 Two Year CD Rates

1. CIT Bank Rate 1.24% APY 1.25%
2. Barclays Bank Rate 1.24% APY 1.25%
3. Metropolitan National Bank Rate 1.16% APY 1.16%
4. Discover Bank Rate 1.14% APY 1.15%
5. AbleBanking Rate 1.14% APY 1.15%
6. NewDominion Bank Rate 1.14% APY 1.15%
7. AloStar Bank of Commerce Rate 1.10% APY 1.10%
8. USAA Bank Rate 1.09% APY 1.10%
9. OneWest Bank Rate 1.09% APY 1.10%
10. Ally Bank Rate 1.08% APY 1.09%

The national average 5 year rate is unchanged this week at 1.36%. You can search for and compare rates on any CD term by using our rate tables.