Top 12 Month CD Rates This Week October 10, 2012

Average 12 month CD rates were slightly lower in Bankrate's national rate survey this week. Bank CD rates averaged 0.72 percent for the week ending October 10, 2012, down from the prior week's average rate of 0.73 percent. The Federal Deposit Insurance Corporation's national rate survey had 1 year CD rates at banks averaging 0.25 percent for the week ending October 9, 2012, down from the previous week's average of 0.26 percent.

1 year CD interest rates on average were lower this week over last but the best CD rates on our 1 year rate list remained the same. The best CD rate on our 1 year rate list is from AloStar Bank at 1.10 percent with an APY of 1.11 percent. AloStar Bank's rate is more than 4 times the FDIC national average and 37 basis points higher than Bankrate's national average rate.

The second highest CD rate on our rate list this week is from CIT Bank. Current CIT Bank CD rates are at 1.09 percent with an APY of 1.10 percent. CIT Bank's rates are also 4 times the FDIC average and 36 basis points higher than bankrate's average rate this week.

1 Year CD Rates October 10, 2012

1. AloStar Bank CD Rates 1.10% with an APY of 1.11%
2. CIT Bank CD Rates 1.09% APY 1.10%
3. Bank of Internet CD Rates 1.09% APY 1.10%
4. Sallie Mae CD Rates 1.04% APY 1.05%
5. MetLife Bank CD Rates 1.04% APY 1.05%
6. Ally Bank CD Rates 1.04% APY 1.05%
7. E-Loan CD Rates 1.02% APY 1.02%
8. Disover Bank CD Rates 1.00% APY 1.00%
9. ableBank CD Rates 1.00% APY 1.00%
10. GiantBank.com CD Rates 1.00% APY 1.00%

The banks listed above have deposits insured by the FDIC for up to $250,000 per account per depositor. In fact, all the banks listed on our rate tables have deposits insured by the FDIC. You can compare the best CD rates for all types of certificate of deposit terms on our rate tables.