best cd rates
Getting the Best Bank CD Rates
The best bank CD rates you can find right now is usually online even though the “best CD rates” are that high at all. Most CD rates at banks are around 1.00% right now and the highest CD rates at smaller banks and credit unions can be found at high at 1.75%. Mortgage rates today are around 4.00% and will move higher when interest rates in general move higher.
A small bank in Little York, Illinois, Reynolds State Bank, has current 12 month CD rates that are some of the highest CD rates available right now. Current 12 month CD interest rates at this bank are 1.99 percent with a yield of 2.01 percent.
Another small bank in Illinois, Buffalo Prairie State Bank, has 1 year bank CD rates at 1.85 percent with an APY of 1.86 percent. That rate is another excellent CD bank rates available right now.
One national bank that has good CD rates but not as high as the banks mentioned above is Discover Bank. The bank is advertising 12 month rates at 1.19 percent with an APY of 1.20 percent.
CD Rates at AIG Bank: Highest CD Rates at AIG
Some of the highest CD rates can be found at the banking arm of AIG. Most people don’t realize one of the largest insurance companies in the world also has a bank in the United States. AIG Bank is one of the banks that always offers some of the best CD rates.
In addition to advertising certificate of deposit rates AIG bank also advertises money market accounts and home loan rates including mortgage rates and home equity line of credit rates.
AIG Bank is advertising certificates of deposit with CD deposit terms of 6 months to 60 months. The bank’s 6 bank CD rates go for 0.75% with a bank CD yield of 0.75%. That is one of the highest CD rates at banks available for a 6 month CD.
The bank’s longest term CD account, 5 year CDs, have a current CD interest rate of
Other high CD rates at AIG include their 5year certificate of deposit. The 5 year interest rate is 2.23% with an APY of 2.25%. The bank doesn’t offer 4 year CD rates so the next longest term certificate of deposit is 3 years. The 3 year rate is 1.69% with an APY of 1.70%. That is one of the better CD rates available.
| 6 Months | 0.75% | 0.75% |
| 12 Months | 1.14% | 1.15% |
| 18 Months | 1.24% | 1.25% |
| 24 Months | 1.39% | 1.40% |
| 36 Months | 1.69% | 1.70% |
| 60 Months | 2.23% | 2.25% |
AIG Bank also advertises their Signature Money Market Account which has tiered interest rates that are higher than most bank money market account rates and bank savings account rates. The best MMA rate is 1.07% with a yield of 1.08% for account balances of $250,000 or more.
Union National Bank CD Rates: Best CD Rate for a 1 Year CD
A small bank from Elgin, Illinois has one of the best CD rates for a 12 month certificate of deposit. The bank, Union National Bank, is offering 12 month bank CD rates at 1.21% with a bank CD yield of 1.20%. You can also compare savings rates savingsaccount.monitorbankrates.com because savings rates are competitive with 1 year bank CD rates.
That one year rate is one of the highest CD rates from any bank or credit union. You’ll have a hard time finding CD rates at banks higher for a 1 year certificate of deposit.
Union National Bank’s two other certificates of deposit are also some of the highest CD interest rates. Union National Bank has a 2 year certificate of deposit with a current CD rate of 1.49% with an APY of 1.50%. Again, you’ll probably won’t find CD rates higher than that 2 year rate.
The bank’s 36 month certificate of deposit has a current CD rate of 1.78% with a bank CD yield of 1.80%. Good luck getting a 3 year bank CD rate better than that rate.
Best CD Rates Discover Bank
The best CD rates can be found at Discover Bank. There are many CD rates at banks that are lower than Discover’s CD interest rates. If your looking for a short term CD or a long term CD Discover Bank has really good certificate of deposit rates on all their CDs.
Discover’s certificates of deposits have terms of 3 months to 120 months. years. You have a hard time finding bank CD rates advertised with 10 year certificates of deposit.
Most people invest in 12 month certificates of deposit. Discover’s current 12 month bank CD interest rates are 1.19 percent with an APY of 1.20 percent. One of the highest CD rates available on a 12 month certificate of depoist.
Interest rates are going higher right now so it might be better for you to invest in a shorter term CD than a 12 month CD. Discover Bank’s 3 month bank CD rates are 0.55 percent with an APY of 0.55 percent. A very decent CD rate, maybe not the top 3 month rate but decent anyway.
Intermeddiate term CD rates at Discover are even better deals. The bank’s current 6 month CD rate is 0.90 percent with an APY of 0.90 percent.
Bank CD Rates
Good bank CD rates are hard to find these days. CD rates are low and have been low for three years. Hopefully interest rates will start heading higher since companies are hiring again and the unemployment rate is going down. Both led to higher interest rates on deposit accounts like certificates of deposit, savings accounts and money market accounts.
One of the best CD rates at banks right now on 12 month certificates of deposit is at Ally Bank. 12 month bank CD rates at Ally are 1.23 percent with an APY of 1.24 percent. Union National Bank has the same high CD rate and CD yield as Ally Bank.
Another bank offering a 12 month CD rate higher than most rates now is Discover Bank. 1 year interest rates at discover are at 1.19 percent with an APY of 1.20 percent.
Sallie Mae Bank which is the banking division of the student loan company Sallie Mae has their 1 year rates at 1.00 percent with an APY of 1.00 percent.
It seems some of the bigger national banks don’t need deposits because the rates on their certificates of deposit are extremly low. Chase Bank, Bank of America and HSBC Bank all have 12 month rates on their certificates of deposit at 0.20 percent.