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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Survey of the Best CD Rates for November 3, 2013


Even with the Fed deciding to delay tapering, Treasury yields went up last week. There continues to be signs of an improving economy. The latest was the ISM manufacturing index which showed that U.S. manufacturing expanded at a faster pace than forecast.

An improving economy and rising Treasury yields will hopefully keep the pressure on banks to raise their CD rates.

The most impressive rate increase last week was at PenFed which raised its 3-year and 4-year CD APYs to 2.02%. It has been a long time since we’ve seen 2% rates on nationally available CDs with terms under five years.

Another noteworthy rate increase was at Bank5 Connect which increased its 2-year Investment CD yield from 1.15% to 1.25%. The unique feature of this CD is that it allows add-on deposits during the term.

I added two new nationwide deals from all-access credit unions. Both are short-term CDs. The first is a 1.50% APY 15-month CD at McGraw-Hill Federal Credit Union. A checking account with direct deposit is required. The second is a 1.00% APY 7-month CD at Xceed Financial Credit Union.

The best nationwide deal is at Communitywide Federal Credit Union. However, this deal changed last week. It used to be a 12-month CD with a 2.00% APY for a $100K maximum deposit. It’s now a 6-month CD with a 2.00% APY for a $50K maximum. Just like before a checking account with direct deposit is required to qualify for this rate.

Local CD Deals

Most of the CD rate changes at community credit unions and credit unions last week were rate cuts. There were a few rate hikes.

The most noteworthy rate hike was at Bayer Heritage Federal Credit Union which has branches in West Virginia, Ohio and South Carolina. Its 4-year CD APY increased from 2.02% to 2.15%, and its 5-year CD APY increased from 2.27% to 2.40%.

I added one local deal last week. It’s a 1.11% APY 11-month CD at Regal Financial Bank. The bank only accepts deposits from Washington State.

Long-Term CD Break Strategy

For the short-term CDs in my lists, you might notice CDs with the note "5-year CD closed after X years". These take into account the yield after the early withdrawal penalty is applied. Since Ally Bank's 5-year CD only has a 60-day interest penalty, it's still a good deal when closed early even with the recent rate cuts (Note, this is scheduled to change on new CDs on 12/7/13. See post.)

If you want to compare the effective yields of other CDs after the early withdrawal penalties, please refer to our CD early withdrawal penalty calculator.

The risks of planning for early withdrawals of long-term CDs were recently highlighted by the deposit agreement change at Ally. The risks have also been seen at credit unions which have raised the early withdrawal penalties on existing CDs. I have more details in this blog post.

Note About the CD Survey

As I described in my rate table overview, you can use our CD rate tables to find the best rates for both nationally available CDs and local CDs. This CD survey blog posts are intended to highlight nationwide CD deals that may not be apparent in the tables. For example, I'll include the post-penalty yields of a few long-term CDs.

The CD survey blog posts are also intended to highlight the local CD deals that are available in large metro areas. There are many high CD rates, but most of these are at small banks in rural areas or at small credit unions with very narrow fields of membership. In these local CD surveys, my focus is on local CD deals that are in big cities or that are available in large areas of a state.

Yields Accurate as of November 3, 2013

Under 1-Year CD Rates

Communitywide Federal Credit Union2.00% ($50K max) 6-mo special CD w/active chkaccount review
EverBank1.10% checking/MMA intro 6-month rate ($100K/$50K max)account review
Ally Bank1.07% (1.60% 5-year CD closed after 6 months)see review & risks
Xceed Financial Credit Union1.00% 7-month CD
Connexus Credit Union1.00% 6-month CDw/active chk
Doral Direct0.91% 9-month CDaccount review
Bank5 Connect0.90% 6-month CDNot available to MA & RI residents
CapitalSource Bank0.90% ($10K) 6-month CD special
Doral Direct0.87% 6-month CDaccount review
Ally Bank0.87% 11-month No-Penalty CDsee account review

Noteworth Local Deals

HomeBanc1.35% (max $75K) 3-month CDCentral Florida
Suntide Credit Union1.15% 6-month CDCorpus Christi, TX metro
Doral Bank NY1.00% 6-month CDNYC

1-Year CD Rates

Ally Bank1.33% (1.60% 5-year CD closed after 1 year)see review & risks
Connexus Credit Union1.10% 1-year CDw/active chk
Nationwide Bank1.06% ($100K) 1.01% ($500) 1-year CD
GE Capital Bank1.05% 1-year CD
DollarSavingsDirect1.05% 1-year CD
GE Capital Retail Bank1.05% ($25K min) 1-year CDFormerly MetLife
CIT Bank1.00% ($25K min)add-on & bump-up 1-year CD
Bank5 Connect1.00% 1-year CDNot available to MA & RI residents
Barclays1.00% (2.00% 5-year CD closed after 1 year)see review & risks

Noteworthy Local Deals

Suntide Credit Union1.55% 1-year CDCorpus Christi, TX metro
Gulf Coast Federal Credit Union1.50% 12-month CDCorpus Christi, TX metro
Security Service Federal Credit Union1.25% ($100K) 1.10% ($500) 14-month CDparts of Texas, lower rates in CO and UT
LOMTO Federal Credit Union1.20% 1-year CDparts of New York City
Doral Bank NY1.20% 1-year CDNYC
HAB Bank1.15% 1-year CDSouthern California
Regal Financial Bank1.11% 11-month CD specialWashington State
Beal Bank1.11% 1-year CDSoutheast FL
HAB Bank1.10% 1-year CDNYC metro
General Electric Credit Union1.02% ($100K) 1-year CDCincinnati OH metro

18-month CD Rates

McGraw-Hill Federal Credit Union1.50% 15-month CD specialw/active checking with direct deposit
Ally Bank1.42% (1.60% 5-year CD closed after 18 months)see review & risks
First Flight Federal Credit Union1.25% 15-month CD special
GE Capital Retail Bank1.15% 15-month CD specialFormerly MetLife
GE Capital Bank1.15% 18-month CD
GE Capital Retail Bank1.10% ($100K) 1.05% ($25K) 18-month CDFormerly MetLife
Nationwide Bank1.09% ($100K) 1.04% ($500) 18-month CD
Bank5 Connect1.05% 18-month CDnot available to MA & RI residents
CapitalSource Bank1.05% ($10K) 18-month CD
Doral Direct1.02% 18-month CD, one-time penalty-free early withdrawal optionaccount review

Noteworthy Local Deals

Gulf Coast Federal Credit Union1.65% 18-month CDCorpus Christi, TX metro
Superior Choice Credit Union1.50% ($10K) 20-month CDparts of WI and MN
NEFCU1.25% 20-month CDLong Island, NY
University of Iowa Community Credit Union1.25% 15-month CD specialmany Iowa counties
Doral Bank NY1.25% 18-month CDNYC

2-Year CD Rates

Barclays1.50% (2.00% 5-year CD closed after 2 years)see review & risks
First Flight Federal Credit Union1.50% 23-month and 24-month CD special
Ally Bank1.47% (1.60% 5-year CD closed after 2 years)see review & risks
Connexus Credit Union1.30% 2-year CDw/active chk
Pentagon Federal Credit Union1.26% 2-year CD
Bank5 Connect1.25% add-on 2-year CDnot available to MA & RI residents
Melrose Credit Union1.21% 2-year CD
CIT Bank1.20% ($25K min) add-on & bump-up 2-year CD
Northwest Federal Credit Union1.15% ($100K) 1.05% ($25K) 2-year CD+0.25% w/relationship

Noteworthy Local Deals

Suntide Credit Union1.95% 2-year CDCorpus Christi, TX metro
Gulf Coast Federal Credit Union1.85% 2-year CDCorpus Christi, TX metro
NavyArmy Community Credit Union1.70% ($100K) 1.40% ($1K) 2-year CDCorpus Christi, TX metro
Doral Bank NY1.45% 2-year CDNYC
LOMTO Federal Credit Union1.40% 2-year CDparts of New York City
BrightStar Credit Union1.25% 23-month CD (+0.25% w/chk relationship)parts of Southeast FL

3-Year CD Rates

Wilshire State Bank2.28% 3-year installment savings account w/auto xfers, $100K maxaccount review
Pentagon Federal Credit Union2.02% 3-year CD
Connexus Credit Union1.75% 3-year CD w/active chk
Barclays1.67% (2.00% 5-year CD closed after 3 years)see review & risks
Melrose Credit Union1.46% 3-year CD
Intervest National Bank1.45% 3-year CD
Ally Bank1.51% (1.60% 5-year CD closed after 3 years)see review & risks
Andrews Federal Credit Union1.41% 3-year CD
CIT Bank1.30% ($100K) 1.21% ($1K) 3-year CD
Northwest Federal Credit Union1.30% ($100K) 1.20% ($25K) 3-year CD+0.25% w/relationship
Bank5 Connect1.18% (average apy) limited no-penalty 3-year CDnot available to MA & RI residents

Noteworthy Local Deals

NavyArmy Community Credit Union2.05% ($100K) 1.75% ($1K) 3-year CDCorpus Christi, TX metro
Gulf Coast Federal Credit Union2.02% 3-year CDCorpus Christi, TX metro
2.00% 3-year CD specialSouthern CA
Institution For Savings2.00% 3-yearCDparts of MA
Doral Bank NY1.60% 3-year CDNYC
Department of Commerce FCU1.55% 3-year CDWashington DC
LOMTO Federal Credit Union1.55% 3-year CDparts of New York City

4-Year CD Rates

Pentagon Federal Credit Union2.02% 4-year CD
Barclays1.75% (2.00% 5-year CD closed after 4 years)see review & risks
Nationwide Bank1.72% ($100K) 1.67% ($500) 4-year CD
Andrews Federal Credit Union1.71% 4-year CD
Melrose Credit Union1.71% 4-year CD
GE Capital Retail Bank1.70% ($100K) 1.50% ($2K) 4-year CDFormerly MetLife
Communitywide Federal Credit Union1.70% 4-year CDaccount review
GE Capital Bank1.67% 4-year CD
Barclays1.65% 4-year CD
iGObanking.com1.65% 4-year CD
Intervest National Bank1.65% 4-year CD
CIT Bank1.60% ($100K) 1.32% ($1K) 4-year CD
Alliant Credit Union1.55% 4-year CD
Ally Bank1.53% (1.60% 5-year CD closed after 4 years)see review & risks
EverBank1.46% 4-year CD
Ally Bank1.30% Raise-Your-Rate 4-year CD

Noteworthy Local Deals

Bank of Utica2.25% 4-year CDCentral New York
Bayer Heritage Federal Credit Union2.15% 4-year CDparts of WV, OH & SC
HarborOne Bank2.00% 4-year CDNew England
Institution For Savings2.00% 4-year CDparts of MA
HAPO Community Credit Union1.90% 4-year CDall of Washington State
Department of Commerce FCU1.80% 4-year CDWashington DC
MidFirst Direct1.75% 4-year CDAR, AZ, CA, FL, MO, NH, NV, NY, OK, TX, and WY
LOMTO Federal Credit Union1.75% 4-year CDparts of New York City
Police and Fire Federal Credit Union1.75% 4-year CDPennsylvania
Doral Bank NY1.65% 4-year CDNYC
Fifth Third Bank1.50% 4-year CD specialseveral eastern and midwestern states

5-Year CD Rates

Stanford Federal Credit Union2.22% ($100K) 5-year CD, requires chk w/ddaccount review
American Heritage Federal Credit Union2.10% 5-year online CD
State Bank of India - New York2.05% 5-year CD
Nationwide Bank2.02% ($100K) 1.97% ($500) 5-year CD
Pentagon Federal Credit Union2.02% 5-year CD
GE Capital Bank2.01% 5-year CD
Fidelity New Issue Brokered CD2.00% 5-year non-callable CDissued by BMW Bank
GE Capital Retail Bank2.00% ($100K) 1.95% ($25K) 5-year CDFormerly MetLife
Barclays2.00% 5-year CD
Salem Five Direct2.00% ($10K) 5-year CD
Connexus Credit Union2.00% 5-year CD w/active chk
Communitywide Federal Credit Union2.00% 5-year CDaccount review
McGraw-Hill Federal Credit Union2.00% 5-year CD specialw/active checking with direct deposit
EverBank1.96% 5-year CD
Melrose Credit Union1.96% 5-year CD
Intervest National Bank1.95% 5-year CD
Andrews Federal Credit Union1.91% 5-year CD
State Farm Bank1.90% 5-year CD
CIT Bank1.85% ($100K) 1.60% ($1K) 5-year CD
Ally Bank1.60% 5-year CD

Noteworthy Local Deals

Bank of Utica2.50% 5-year CDCentral New York
American Airlines Credit Union2.47% 5-yr/1.46% 2.5-yr CD ladderlimited membership
Bayer Heritage Federal Credit Union2.40% 5-year CDparts of WV, OH & SC
Progressive Credit Union2.32% 5-year CD (NYC with unique FOM)account review
MidFirstDirect2.25% 5-year CDAR, AZ, CA, FL, MO, NH, NV, NY, OK, TX, and WY
BBVA Compass2.25% (w/relationship checking) 2.00% (w/o relation) 5-year CDparts of AL, AZ, CA, CO, FL, NM and TX
First Community Federal Credit Union2.21% 5-year CD w/relationshipparts of MI, WI and IL
Department of Commerce FCU2.10% 5-year CDWashington DC
General Electric Credit Union2.03% 5-year CDCincinnati OH metro
Central Bank & Trust2.02% 5-year CDColorado Springs, CO
Consumers Credit Union2.00% 5-year CD, allows one no-penalty early withdrawal (parts of Michigan)
HAPO Community Credit Union2.00% 5-year CDall of Washington State
Institution For Savings2.00% 5-year CDparts of MA
LOMTO Federal Credit Union2.00% 5-year CDparts of New York City
Police and Fire Federal Credit Union2.00% 5-year CDPennsylvania

Over 5-Year CD Rates

Fidelity New Issue Brokered CD3.30% 10-year non-callable CDissued by GE Capital Retail Bank and GE Capital Bank
Fidelity New Issue Brokered CD2.70% 7-year non-callable CDissued by GE Capital Retail Bank
Apple Federal Credit Union2.50% 10-year CD
Apple Federal Credit Union2.10% 7-year CD
Intervest National Bank2.07% ($95K) 2.05% ($2.5K) 10-year CD
GE Capital Bank2.05% 6-year CD
Pentagon Federal Credit Union2.02% 7-year CD
Discover Bank1.90% 10-year CD
Northrop Grumman FCU1.88% ($40K) 1.72% ($2.5K) 7-year CD
Discover Bank1.80% 7-year CD
Third Federal1.75% 6-year CD

Noteworthy Local Deals

Hutchinson Credit Union3.15% ($250K) 3.10% ($100K) 3.05% ($25K) 10-year CDKansas
PeoplesChoice Credit Union3.04% 10-year CDYork and Cumberland Counties of Maine
Frick Tri-County Federal Credit Union3.00% 10-year CDparts of Western PA
MidFirst Direct2.75% 7-year CDAR, AZ, CA, FL, MO, NH, NV, NY, OK, TX, and WY
SACU2.75% ($90K) 2.70% ($10K) 10-year CDSan Antonio, TX
Franklin Federal Savings Bank2.73% 7-year CDRichmond, VA metro
Frick Tri-County Federal Credit Union2.50% 8-year CDparts of Western PA
MidFirst Bank2.70% 7-year CDAZ and OK
Dollar Bank2.60% 10-year CDPittsburgh and Cleveland
Hutchinson Credit Union2.50% ($250K) 2.40% ($100K) 2.30% ($25K) 6-year CDKansas
Franklin Federal Savings Bank2.42% 6-year CDRichmond, VA metro
Wright-Patt Credit Union2.30% ($100K) 2.20% ($500) 6-year CDUS gov military and civilian personnel, Parts of OH
SACU2.25% ($100K) 2.20% ($10K) 7-yearSan Antonio, TX
Security Service Federal Credit Union2.20% ($100K) 2.05% ($500) 7-year CDparts of Texas, lower rates in CO and UT
Columbia Bank2.10% 7-year CDNew Jersey
Randolph-Brooks Federal Credit Union2.07% 7-year CDSan Antonio & Austin, TX
Gateway Metro Federal Credit Union2.05% 6-year CDSt. Louis metro
First Republic Bank2.00% (w/chk) 1.75% (w/o chk) 6-year CDparts of CA, CT, FL, MA, NY & OR
Columbia Bank1.95% 6-year CDNew Jersey

Note: All rates listed above are Annual Percentage Yields (APY) which factor in compounding.

  Tags: CD rates

Related Posts

Comment #1 by Anonymous posted on
In the "Survey of Best CD Rates For November 3, 2013, Pentagon Federal Credit Union is shown to have a 2.02% CD in the 4-year listing, but not in the 3-year listing.

Comment #2 by Anonymous posted on
CIT Bank is offering 2.3% for a 5 year CD, though the offer is only good for IRA CDs of $100K or more. Offer lasts until Nov 22nd and must be done by phone.

Comment #3 by Hoody (anonymous) posted on
Well my CD came due today at SunTrust, so was put into the position of finding the funds a home in this crazy rate enviroment. Went with NFCU as they are the better of the worest local rates going, went with a 3 yr 1.25%, it was that or .30 at ST, WF, and BB&T, lol.Only consolation is, due to the size of the CD at least it generates  enough to cover a couple small monthly bills, lol.

Maybe in another 4/6 mo things will be a bit better, not much but a bit, I have a couple in BB&T coming due Feb/April