Dedicated to Deposits: Deals, Data, and Discussion
About Ken Tumin About Ken Tumin - Founder and Editor

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.

Featured 2-Year CD Rates

Popular Posts

Featured Accounts

Survey of the Best CD Rates for December 13, 2013

POSTED ON BY

Treasury yield changes were mixed this week. Recent economic data on jobs and manufacturing has encouraged higher yields, but Friday’s inflation news pushed yields down slightly. According to the Wall Street Journal "U.S. prices at the wholesale level unexpectedly fell 0.1% last month, the third monthly decline." That reduces the chance the Fed will start tapering at next week’s policy meeting. Even if the Fed starts tapering, don’t expect higher deposit rates anytime soon. The markets are starting to realize that tapering won’t be tightening. As mentioned in the WSJ article, the Fed will likely keep its Zero Interest Rate Policy (ZIRP) until at least late 2015.

PenFed’s CDs continue to be the best deals, especially for CDs with terms of 3 years and longer. Its best deal is its 5-year CD which has a 3.04% APY. As a comparison, the highest 5-year CD rate at an internet bank is 2.12% APY. That’s at EverBank. This rate actually went up this week, but it was a small increase of only 1 basis point.

If you don’t like the long terms of PenFed’s CDs, there are some good short-term CD deals. I added one bank to the nationwide tables. It’s Seacoast Commerce Bank, and it has two good short-term deals. One is a 10-month promo CD with a 1.10% APY. The other is a money market promo with a 1.00% APY guaranteed until 9/30/14. Due to this rate guarantee, I included it in the "under 1-year" table. One downside with both of these promos is that they have a $50K minimum deposit requirement.

Local CD Deals

There weren’t many rate changes this week for the local CDs in my tables. Cross River Bank in New Jersey ended its 6-month CD special that had 1.30% APY. On the plus side, San Antonio Federal Credit Union (SACU) increased its 10-year and 7-year CD rates by 5 bps.

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.

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 December 13, 2013

Under 1-Year CD Rates

InstitutionRatesNotes
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
Seacoast Commerce Bank1.10% ($50K min) 10-month CD
Seacoast Commerce Bank1.00% ($50K min) MMArate guaranteed to 9/30/14
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

InstitutionRatesRegion
HomeBanc1.35% ($50K) -month CDCentral Florida
Suntide Credit Union1.10% 6-month CDCorpus Christi, TX metro
Doral Bank NY1.00% 6-month CDNYC
BBCN Bank1.00% ($50K) MMA w/guarantee to 12/31/14Parts of CA, WA, IL, NY, NJ and VA
Capital One Bank1.00% savings acct w/1yr rate lockParts of TX, NY, NJ, MD, VA and DC

1-Year CD Rates

InstitutionRatesNotes
AloStar Bank of Commerce1.10% 1-year CD
Connexus Credit Union1.10% 1-year CDw/active chk
CIT Bank1.05% ($25K min)add-on & bump-up 1-year CD
DollarSavingsDirect1.05% 1-year CD
GE Capital Retail Bank1.05% ($25K min) 1-year CDFormerly MetLife
Nationwide Bank1.01% ($100K) 0.96% ($500) 1-year CD
GE Capital Bank1.00% 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
Ally Bank0.93% (1.60% 5-year CD closed after 1 year w/new ewp)see review & risks

Noteworthy Local Deals

InstitutionRatesRegion
Suntide Credit Union1.50% 1-year CDCorpus Christi, TX metro
Gulf Coast Federal Credit Union1.50% 12-month CDCorpus Christi, TX metro
University of Iowa Community Credit Union1.25% 14-month CD specialmany Iowa counties
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
BBCN Bank1.10% ($50K) 1-year CDParts of CA, WA, IL, NY, NJ and VA
HAB Bank1.10% 1-year CDNYC metro
General Electric Credit Union1.02% ($100K) 1-year CDCincinnati OH metro

18-month CD Rates

InstitutionRatesNotes
McGraw-Hill Federal Credit Union1.50% 15-month CD specialw/active checking with direct deposit
Xceed Financial Credit Union1.25% 19-month CD
Ally Bank1.16% (1.60% 5-year CD closed after 18 months w/new ewp)see review & risks
AloStar Bank of Commerce1.15% 18-month CD
GE Capital Retail Bank1.15% 15-month CD specialFormerly MetLife
GE Capital Retail Bank1.10% ($100K) 1.05% ($25K) 18-month CDFormerly MetLife
Nationwide Bank1.09% ($100K) 1.04% ($500) 18-month CD
GE Capital Bank1.05% 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

InstitutionRatesRegion
Money One Federal Credit Union1.90% 19-month CD special ended on 12/16MD, VA and DC
Gulf Coast Federal Credit Union1.65% 18-month CDCorpus Christi, TX metro
NEFCU1.25% 20-month CDLong Island, NY
Doral Bank NY1.25% 18-month CDNYC

2-Year CD Rates

InstitutionRatesNotes
Pentagon Federal Credit Union1.52% (3.04% 7/5-year CD closed after 2 years)see review & risks
Barclays1.50% (2.00% 5-year CD closed after 2 years)see review & risks
Pentagon Federal Credit Union1.41% 2-year CD
Ally Bank1.27% (1.60% 5-year CD closed after 2 years w/new ewp)see review & risks
Connexus Credit Union1.30% 2-year CDw/active chk
AloStar Bank of Commerce1.25% 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

InstitutionRatesRegion
Suntide Credit Union1.90% 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 Union1.45% 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

InstitutionRatesNotes
Wilshire State Bank2.28% 3-year installment savings account w/auto xfers, $100K maxaccount review
Pentagon Federal Credit Union2.03% (3.04% 7/5-year CD closed after 3 years)see review & risks
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
Andrews Federal Credit Union1.41% 3-year CD
CIT Bank1.40% ($100K) 1.27% ($1K) 3-year CD
Ally Bank1.38% (1.60% 5-year CD closed after 3 years w/new ewp)see review & risks
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

InstitutionRatesRegion
NavyArmy Community Credit Union2.05% ($100K) 1.75% ($1K) 3-year CDCorpus Christi, TX metro
Spokane Teachers Credit Union (STCU)2.02% ($25K) 30-month CDWA State & parts of ID
Gulf Coast Federal Credit Union2.02% 3-year CDCorpus Christi, TX metro
Institution For Savings2.00% 3-yearCDparts of MA
LOMTO Federal Credit Union1.60% 3-year CDparts of New York City
Doral Bank NY1.60% 3-year CDNYC
Department of Commerce FCU1.55% 3-year CDWashington DC

4-Year CD Rates

InstitutionRatesNotes
Pentagon Federal Credit Union2.28% (3.04% 7/5-year CD closed after 4 years)see review & risks
Pentagon Federal Credit Union2.22% 4-year CD
Barclays1.75% (2.00% 5-year CD closed after 4 years)see review & risks
CIT Bank1.75% ($100K) 1.65% ($1K) 4-year CD
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 Bank1.51% 4-year CD
Barclays1.65% 4-year CD
Intervest National Bank1.65% 4-year CD
EverBank1.57% 4-year CD
Alliant Credit Union1.55% 4-year CD
Ally Bank1.43% (1.60% 5-year CD closed after 4 years w/new ewp)see review & risks
Ally Bank1.30% Raise-Your-Rate 4-year CD

Noteworthy Local Deals

InstitutionRatesRegion
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
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
HAPO Community Credit Union1.70% 4-year CDall of Washington State
Doral Bank NY1.65% 4-year CDNYC
Fifth Third Bank1.50% 4-year CD specialseveral eastern and midwestern states

5-Year CD Rates

InstitutionRatesNotes
Pentagon Federal Credit Union3.04% 5-year CD
Pentagon Federal Credit Union2.43% (3.04% 7-year CD closed after 5 years)see review & risks
Stanford Federal Credit Union2.27% ($100K) 5-year CD, requires chk w/ddaccount review
Fidelity New Issue Brokered CD2.15% 5-year non-callable CDissued by State Bank of India
EverBank2.12% 5-year CD
Michigan State University FCU2.11% ($100K) 5-year CD
American Heritage Federal Credit Union2.10% 5-year online CD
CIT Bank2.05% ($100K) 1.85% ($1K) 5-year CD
GE Capital Retail Bank2.05% ($100K) 2.00% ($25K) 5-year CDFormerly MetLife
State Bank of India - New York2.05% 5-year CD
GE Capital Bank2.01% 5-year CD
Barclays2.00% 5-year CD
iGObanking.com2.00% 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
Melrose Credit Union1.96% 5-year CD
Nationwide Bank1.95% ($100K) 1.90% ($500) 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
Ally Bank1.60% 5-year CD

Noteworthy Local Deals

InstitutionRatesNotes
Credit Union West3.20% (IRA $50K) 2.95% (non-IRA $50K) 5-year CDPhoenix metro
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
MidFirst Direct2.25% 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
Department of Commerce FCU2.10% 5-year CDWashington DC
General Electric Credit Union2.03% 5-year CDCincinnati OH metro
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
Wright-Patt Credit Union1.95% ($100K) 1.85% ($500) 5-year CDUS gov military and civilian personnel, Parts of OH

Over 5-Year CD Rates

InstitutionRatesRegion
Fidelity New Issue Brokered CD3.30% 10-year non-callable CDissued by CIT Bank
Pentagon Federal Credit Union3.04% 7-year CD
Fidelity New Issue Brokered CD2.75% 7-year non-callable CDissued by CIT 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
Northrop Grumman FCU1.92% ($40K) 1.76% ($2.5K) 7-year CD
Discover Bank1.90% 10-year CD
Discover Bank1.80% 7-year CD
Third Federal1.75% 6-year CD

Noteworthy Local Deals

InstitutionRatesRegion
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
SACU2.80% ($90K) 2.75% ($10K) 10-year CDSan Antonio, TX
Dollar Bank2.75% 10-year CDPittsburgh and Cleveland
MidFirst Direct2.75% 7-year CDAR, AZ, CA, FL, MO, NH, NV, NY, OK, TX, and WY
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
Hutchinson Credit Union2.50% ($250K) 2.40% ($100K) 2.30% ($25K) 6-year CDKansas
Wright-Patt Credit Union2.45% ($100K) 2.35% ($500) 6-year CDUS gov military and civilian personnel, Parts of OH
Franklin Federal Savings Bank2.42% 6-year CDRichmond, VA metro
SACU2.30% ($100K) 2.25% ($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 Bank2.15% 7-year CDNew Jersey
Gateway Metro Federal Credit Union2.05% 6-year CDSt. Louis metro
Columbia Bank2.00% 6-year CDNew Jersey
Randolph-Brooks Federal Credit Union1.97% 7-year CDSan Antonio & Austin, TX

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


  Tags: CD rates

Related Posts

Comments
5 Comments.
Comment #1 by Anonymous posted on
Anonymous
Hey I miss them 500-post PenFed CD blogs. Any rumors about January rate increases?

6
Comment #3 by Anonymous posted on
Anonymous
I must have missed them completely.  I haven't seen a single PenFed thread with 500 posts yet.

3
Comment #4 by Anonymous posted on
Anonymous
#3 At last count two PenFed CD threads totaled 450 posts and counting, so I figured it got close to 500 at some point, with many entertaining comments, which added value to the DA site for me, then again I think two or three posters might have been responsible for over 50% of the posts lol, and there were some deleted comments, but overall it was fun reading!

4
Comment #5 by Anonymous posted on
Anonymous
In your 3-year Local CD section, you list a California bank offering 2% interest, but the name of the bank is missing.  Does that mean it is no longer being offered?  Thank you, Joe Mantione, San Diego

4
Comment #6 by Ken Tumin posted on
Ken Tumin
That 3-year CD special was from Luther Burbank Savings, and I just checked with the bank. It's no longer available. I went ahead and removed the entire row this time. I'm not sure why the name had been missing. Thanks for alerting us to this.

4