Best CD Rates in Paterson, New Jersey

National average CD rates at banks and credit unions have headed lower again this week. There doesn't seem to be any relief from these very low CD rates. If the financial crisis in Europe drags on and stops the world economic recovery we might not see any increases in interest rates until 2011.

Searching for the highest CD rates? Use our CD rate tables at CDRates.MonitorBankRates.com to find the best CD rates in your area.

The current average 1 year CD rate is 0.88 percent. Five year national average CD rates are only 2.28 percent. You can find bank CD rates and credit union CD rates higher than the national averages.

I can remember Washington Mutual advertising 12 month CD rates at 5.00 percent about two years ago. Those rates were the best CD rates available at the time. Yes, they were desperate for deposits and the bank did fail but other banks at the time were offering 1 year CD rates around 3.00 percent to 4.00 percent. Still a lot better than today's CD rates.

Searching our CD rate tables for the best bank CD interest rates in Paterson, New Jersey, we found both Flagstar Bank and Sallie Mae Bank are offering the highest 12 month CD rates. Both banks are currently offering 1 year CD rates at 1.54 percent with an annual percentage yield (APY) of 1.55 percent.

Bank of Internet USA is third on the best CD rates list in Paterson, NJ. The bank's current 12 month CD rate is 1.53 percent with an APY of 1.54 percent.

Some banks local to Paterson are offering competitive CD rates. Their rates are not highest CD rates in the Paterson area but they are competitive with the big banks. Hudson City Savings Bank is offering their 12 month CD rate at 1.24 percent with an APY of 1.25 percent. Community Bank of Bergan County has their 12 month CD rate at 1.20 percent with an APY of 1.21 percent.

Following is a list of the best CD rates in Paterson, New Jersey.

Best CD Rates in Paterson, NJ

• Flagstar Bank CD Rate 1.54% APY 1.55%  Min $500
• Sallie Mae Bank CD Rate 1.54% APY 1.55% Min $ 1
• Bank of Internet USA CD Rates 1.53% APY 1.54% Min $1000
• Discover Bank CD Interest Rates 1.49% APY 1.50% Min $2500
• Ally Bank CD Rate 1.49% APY 1.50% Min $ 1
• American Express Bank CD Rates 1.49% APY 1.50% Min $ 0
• Tennessee Commerce Bank CD Rates 1.49% APY 1.50% Min $2500
• AIG Bank CD Rates 1.48% APY 1.49% Min $2500
• Giantbank.com CD Interest Rate 1.45% APY 1.46% Min $2500
• Nationwide Bank CD Rate 1.39% APY 1.40% Min $10,000
• PenFed Credit Union CD Rate 1.30% APY 1.31%  Min $1000
• EverBank CD Rates 1.26% APY 1.27% Min $1500
• Hudson City Savings Bank CD Rate 1.24% APY 1.25% Min $500
• Bogota Savings Bank CD Rate 1.24% APY 1.25% Min $1000
• Kearney Federal Savings Bank CD Rate 1.24% APY 1.25% Min $500
• Community Bank of Bergen County CD Rates 1.20% APY 1.21% Min $1000
• Boiling Springs Savings Bank CD Rate 1.19% APY 1.20% Min $1000
• Manasquan Saving Bank CD Rates 1.19% APY 1.20% Min $500
• Haven Savings Bank CD Interest Rates 1.14% APY 1.15% Min $100
• Oritani Savings CD Rates 1.14% APY 1.15% Min $1000
• BankDirect CD Rate 1.10% APY 1.11% Min $10,000
• Allstate Bank CD Rate 1.09% APY 1.10% Min $1000
• ING DIRECT CD Rate 1.00% APY 1.00% Min $ 1
• First Internet Bank of IN CD Rate 1.00% APY 1.00% Min $1000
• Bay Ridge Federal Credit Union CD Rates 1.00% APY 1.00% Min $500
• Investors Savings Bank CD Rate 1.00% APY 1.00% Min $500
• Columbia Bank CD Interest Rate 1.00% APY 1.00% Min $500
• Ameriprise Bank FSB CD Rate 0.90% APY 0.90% Min $10,000
• E-LOAN.com CD Interest Rates 0.85% APY 0.85% Min $10,000
• Citibank CD Rates 0.80% APY 0.80% Min $10,000
• Sovereign Bank CD Rate 0.70% APY 0.70% Min $10,000
• NVE Savings Bank CD Interest Rates 0.70% APY 0.70% Min $1000
• Bank of America CD Rates 0.65% APY 0.65% Min $10,000
• Valley National Bank CD Rates 0.65% APY 0.65% Min $500