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CD Rates Summary March 14, 2017

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CD Rates Summary March 14, 2017

This is one of those rare occasions when everyone expects the Fed to raise interest rates at its meeting. We’ll see if that happens when the Fed meeting ends on Wednesday with the FOMC statement scheduled to be released at 2:00pm EDT, followed by a press conference by Fed Chair Janet Yellen at 2:30pm.

The odds of a Fed rate hike at this March meeting began rising in late February. Expectations grew as influential Fed officials gave speeches signaling that the Fed was serious about hiking rates. When those signals were echoed by Fed Chair Janet Yellen in a speech on March 3rd, the expectation of a March Fed rate hike shot way up. The only thing that could have derailed the hike would have been major disappointments in the February jobs report. That didn’t happen. The jobs report was solid, Thus, the Fed raising the Federal funds rate by 25 basis points is almost a foregone conclusion.

Now the question is how many Fed rate hikes will there be in 2017. The Fed’s projections in December (shown via the dot plot), suggest that we’ll see three rate hikes this year. The Fed will release new projections, and it’s likely that four rate hikes will be the dominant expectation. As economist Tim Duy said in his Fed Watch blog post, “I have a hard time seeing why they would pull forward a rate hike if they weren't trying to create room for an additional hike this year.”

If the Fed does follow a path of four rate hikes this year, how will that impact deposit rates? We haven’t seen much impact from the last two rate hikes. That may change once a pattern of rate hikes is seen. Looking back when I started this blog in 2005, the Fed was hiking rates at each meeting, and banks followed with deposit rate hikes. Savings account and short-term CD rates went up faster than long-term CD rates until long-term CD rates weren’t much higher than savings account rates.

You can see the dramatic increase in the odds of a March rate hike from the Fed funds future contracts. The implied probability increased from 22% on February 21, to 62% on February 28, to 84% on March 7, to 93% today.

All Treasury yields were up from last week. The 1-month Treasury yield had the largest increase, rising 22 bps.

The following numbers are based on Daily Treasury Yield Curve Rates and the CME Group FedWatch.

Treasury Yields:

  • 1-month: 0.77% up from 0.55% last week
  • 6-month: 0.93% up from 0.87% last week
  • 2--year: 1.40% up from 1.32% last week
  • 5--year: 2.13% up from 2.05% last week
  • 10-year: 2.60% up from 2.52% last week
  • 30-year: 3.17% up from 3.11% last week

Fed funds futures' probabilities of future rate hikes by:

  • Mar 2017 - at least one hike: 93.0% up from 84.1% last week
  • Mar 2017 - at least two hikes: 0.0% same as last week
  • Jun 2017 - at least one hike: 97.1% up from 92.2% last week
  • Jun 2017 - at least two hikes: 54.4% up from 43.3% last week
  • Dec 2017 - at least one hike: 99.4% up from 98.6% last week
  • Dec 2017 - at least two hikes: 90.1% up from 86.5% last week

Certificate of Deposit Rates

Rate increases at three internet banks are a good sign that we’re at the start of a rising interest rate environment. EverBank increased its 1-year CD APY to 1.42%, which is second only to Andrews FCU’s 1-year Jumbo CD (1.45% APY for balances of at least $10k). First Internet Bank increased its 4-year CD by 10 bps to 1.97% APY.

The most noteworthy of the internet bank rate hikes came from Capital One, which increased the rates of its online 360 CDs. The competitive new rates range from 1.30% APY for a 1-year CD to 2.30% APY for a 5-year CD. It’s interesting to note that the 5-year CD has the same yield that Capital One had been offering on its 5-year brokered CD. I checked the brokered CDs today at Fidelity and Vanguard, and I couldn’t find new issues from Capital One.

Another sign that we’re at the start of a rising rate environment is that brokered CD rates continue to rise. Brokered CD rates now outshine internet Bank CDs for terms of 3-year and up.

Not all rates went up in the last two weeks. One disappointment was Andrews Federal Credit Union which lowered its 7-year CD APY from 3.00% to 2.20%.

Navy Federal Credit Union continues to offer a great deal on a special 17-month CD. This is an add-on CD with a 2.00% APY. The only downside is a maximum deposit of $50k. I have more details about the CD and about joining Navy Fed in this blog post.

Finally, here’s my usual note about long-term CDs with mild early withdrawal penalties.

An alternative to short-term CDs is long-term CDs that have mild early withdrawal penalties. I include the effective yields of a few long-term CDs when closed early in the tables below. All of these have competitive long-term CD rates and an early withdrawal penalty of 6 months of interest or less. The combination of a high long-term CD rate combined with a mild early withdrawal penalty makes these CDs pretty good deals even when closed early. 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 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.

Savings & Checking Account Rates

In the past I’ve covered savings and checking account rate changes in another weekly summary post. Each week I would publish one post with a recap of savings and checking account rate changes and another post with a recap of CD rate changes. Since there aren’t a lot of rate changes, I’m now alternating these posts. This week I’ll just publish this CD summary. Next week I’ll just publish the savings/checking summary. For both summaries I’ll include the same economic overview. You can always get the latest rates for savings/checking accounts and CDs by using our rate tables. Just use the menu on top.

Yields Accurate as of March 14, 2017

Under 1-Year CD Rates

The Palladian PrivateBank1.30% Savings Account promo 6-month rate ($10K min/$500K max)See review
HSCB1.30% 5-month Promo CDSee review
HSCB1.25% Promo Premier Savings (rate guaranteed through 8/31/17)See review
McGraw-Hill Federal Credit Union1.25% ($75k) Ascend Account MMA (rate guarantee through 8/31/17) See review
VirtualBank1.16% ($10k) 9-month eCD See review
VirtualBank1.11% ($10k) 6-month eCD See review
EverBank1.11% (1yr intro rate, up to $250k) 0.61% ongoing rateMMA/Checking - Account review
iGObanking1.10% 6-month iGOCD
McGraw-Hill Federal Credit Union1.05% Holiday Money Market Promo (rate guarantee through 4/30/17) See review

Noteworthy Local Deals - Under 1-Year CDs

First Tennessee Bank1.50% ($50k) 9-month Money Market Savings (6 month rate guarantee)AL, AR, GA, KY, MS, NC, TN, and VA See review
University of Iowa Community Credit Union1.30% ($250k), 1.20% ($100k), 1.10% ($1k) 11-month CD Special48 Iowa counties, 4 Illinois counties See review
Arbor Financial Credit Union1.27% 7-month "Lucky 7" CD Special21 southwest Michigan counties See review
Money Federal Credit Union1.26% 7-month Special Rate CD4 central New York counties See review
Maine Highlands Credit Union1.26% 6-month IRA CertificatePiscataquis County and 12 central Maine communities See review
Mercantil Commercebank, N.A.1.20% ($10k) 7-month Smart CD South Florida and Houston, Texas area See review
Inspire Federal Credit Union1.20% 9-month Share CertificateBucks County, PA See review
Bellwether Community Credit Union1.20% 9-month Certificate SpecialNew Hampshire See review
Synergy Bank, SSB1.20% 10-month CD Special ($10kDallas/Fort Worth area
Direct Federal Credit Union1.20% ($100k) 8-month Jumbo CDNorfolk County, MA See review
Direct Federal Credit Union1.15% 8-month CDNorfolk County, MA See review
Capital One Bank1.10% Essential Savings 6-month guaranteeCT, DC, DE, LA, MD, NJ, NY, TX, and VA See review

1-Year CD Rates

UNIFY Financial Credit Union1.50% (2.00% 60-month Share Certificate closed after 1 year)Easy membership
Andrews Federal Credit Union1.45% ($10k) 12-month Jumbo Share CertificateEasy membership See review
Connexus Credit Union1.42% 12-month Share Certificate SpecialEasy membership See review
EverBank1.42% 1-year Yield Pledge CD Internet bank See review
Melrose Credit Union1.41% 1-year Share CertificateCurrently operating under an NCUA conservatorship
Northwest Federal Credit Union1.41% ($250k), 1.31% ($100k) 1-year CDEasy membership See review
PurePoint Financial1.40% ($10k) 12-month CDInternet bank See review
My e-BAnC by BAC Florida Bank1.40% ($100k) 12-month Jumbo Time Deposit See review
My e-BAnC by BAC Florida Bank1.37% 12-month Time Deposit See review
M.Y. Safra Bank1.36% 1-year CD Special See review
Colorado Federal Savings Bank1.35% 1-year CDInternet bank
State Bank of Texas1.35% ($100k) 1.25% ($25k) 12-month CD See review
Capital One1.30% 12-month 360 CDSee review
Banesco USA1.35% ($250k) 1.30% ($1.5k) 12-month CD
Live Oak Bank1.35% 1-year CDInternet bank See review
VirtualBank1.34% ($10k) 12-month eCD See review
CIT Bank1.32% 1-year Term CD See review
Popular Direct1.30% ($10k) 1-year Popular Direct CDInternet bank
PenFed Credit Union1.26% 1-year Money Market CertificateEasy membership See review
TAB Bank1.26% 12-month CD See review
CIT Bank1.26% 1-year RampUp CD See review
Synchrony Bank1.25% 12-month CD
Sallie Mae Bank1.25% 12-month CD
Ally Bank1.25% 13-month Select CD See review

Noteworthy Local Deals - 1-Year CDs

Seneca Savings1.56% 13-month CDOnondaga County, New York See review
AmeriCU1.55% ($100k) 12-month Jumbo Partner Certificate9 Upstate New York Counties See review
General Electric Credit Union1.55% ($100k) 1-year Jumbo CDSouthwest Ohio
Seasons Federal Credit Union1.51% 14-month Featured Certificate Middlesex County, CT See review
Potlach No 1 Federal Credit Union1.50% 12-month Share Certificate Special11 Idaho and 2 Washington counties
Directions Credit Union1.50% 14-month Share Certificate Special10 Ohio and 1 Michigan counties See review
Freedom Federal Credit Union1.50% 52-week Jumbo Certificate ($25k)Harford County, Maryland See review
Patelco Credit Union1.50% (2.00% 36-47 month Share Certificate closed after 1 year)Northern California See review
VisionBank1.50% ($100k) 14-month Winter Special CDAmes and Boone Counties, Iowa See review
South Shore Bank1.40% 14-month Rewards CDMassachusetts
Bellwether Community Credit Union1.40% 13-month Certificate SpecialNew Hampshire See review
American Eagle Bank of Chicago1.35% SUPER Saver 13-month Add-On CD SpecialChicago metro area

18-month CD Rates

Navy Federal Credit Union2.00% ($50k max) Special 17-month Certificate w/add-on depositsEasy membership See review
Veridian Credit Union1.60% 15-month Jumbo CD ($100k)Easy membership See review
UNIFY Financial Credit Union1.58% (2.00% 60-month Share Certificate closed after 18 months)Easy membership requirements
Capital One1.54% (2.30% 60-month 360 CD closed after 18 months)See review
Great Lakes Credit Union1.50% 18-month CD SpecialEasy membership See review
Veridian Credit Union1.50% 15-month CD SpecialEasy membership See review
McGraw-Hill Federal Credit Union1.50 ($50k), 1.40% ($20k) 17-month Promo CD See review
Service Credit Union1.50% 20-month Certificate Special Limited membership See review
Capital One1.45% 18-month 360 CDSee review
Lake Michigan Credit Union1.40% 18-month CD SpecialEasy membership
Live Oak Bank1.40% 18-month CDInternet bank See review
Popular Direct1.40% ($10k) 18-month Popular Direct CDInternet bank
Banesco USA1.40% ($250k) 1.35% ($1.5k) 18-month CD
PenFed Credit Union1.36% 15-month Money Market CertificateEasy membership See review

Noteworthy Local Deals - 18-Month CDs

First United Credit Union1.80% 18-month CD Special (checking relationship)23 West Michigan counties See review
University of Iowa Community Credit Union1.80% ($250k), 1.70% ($100k), 1.60% ($1k) 21-month CD Special48 Iowa counties, 4 Illinois counties See review
Liberty Bank1.75% 21-month CD Connecticut See review
IntegrUS Credit Union1.71% ($50k) 15-month Share Certificate Special 11 Iowa, 2 Wisconsin, and 1 Illinois counties See review
Collins Community Credit Union1.71% ($250k), 1.66% ($100k), 1.61% ($50k) 15-month CD Special 38 eastern Iowa counties See review
Cedar Falls Community Credit Union1.70% 15-month Jumbo Certificate7 Iowa counties See review
First United Credit Union1.70% 18-month CD Special 23 West Michigan counties See review
Directions Credit Union1.70% 19-month Share Certificate Special10 Ohio and 1 Michigan counties See review
Patelco Credit Union1.68% (2.00% 36-47 month Share Certificate closed after 18 months)Northern California See review
Lincoln 1st Bank1.65% 18-month Variable Rate CDNorthern New Jersey See review
Farmers State Bank1.62% 15-month CD3 NE Iowa counties
Cedar Falls Community Credit Union1.55% 15-month Special Share Certificate7 Iowa counties See review
Walpole Co-operative Bank1.50% 15-month CD SpecialWalpole, Massachusetts area See review
Firstmark Credit Union1.50% ($100k) 18-month Promo CD15 Texas counties See review

2-Year CD Rates

UNIFY Financial Credit Union1.76% (2.00% 60-month Share Certificate closed after 2 years)Easy membership requirements
Capital One1.73% (2.30% 60-month 360 CD closed after 2 years)See review
Hughes Federal Credit Union1.71% ($99k) 29-month CD Easy membership See review
Veridian Credit Union1.65% 25-month Jumbo CD ($100k min)Easy membership
Chevron Federal Credit Union1.65% ($250k) 2-year SuperShare 250 CD See review
Hughes Federal Credit Union1.61% ($50k) 29-month CD Easy membership See review
Capital One1.60% 24-month 360 CDSee review
Connexus Credit Union1.60% 24-month Share Certificate SpecialEasy membership See review
Fidelity Brokered CD1.60% 2-year non-callable CD
Bellco Credit Union1.60% ($100k) 28-month Jumbo CDEasy membership See review
The Vanguard Group Brokered CD1.60% 2-year non-callable CDIssued by Wells Fargo
M.Y. Safra Bank1.58% 2-year CD Special See review
Melrose Credit Union1.56% 2-year Share CertificateCurrently operating under an NCUA conservatorship
VirtualBank1.56% 2-year CD See review
Nationwide Bank1.56% ($100k) 2-year CD See review
Partner Colorado Credit Union1.55% 24-month Celebrate CD Easy membership See review
Popular Direct1.55% ($10k) 2-year Popular Direct CDInternet bank
Veridian Credit Union1.55% 25-month Special CDEasy membership

Noteworthy Local Deals - 2-Year CDs

First United Credit Union2.40% 24-month CD Special (checking relationship)23 West Michigan counties See review
First United Credit Union2.30% 24-month CD Special23 West Michigan counties See review
IntegrUS Credit Union2.12% ($125k) 27-month Share Certificate Special11 Iowa, 2 Wisconsin, and 1 Illinois counties See review
Collins Community Credit Union2.12% ($250k), 2.06% ($100k), 2.01% ($50k) 28-month CD Special 38 eastern Iowa counties See review
First Federal Credit Union2.00% 29-month CD SpecialLinn County, Iowa See review
Greater Iowa Credit Union1.81% 22-month CD Special33 Iowa counties See review
Farmers State Bank1.80% 28-month CD3 NE Iowa counties
Patelco Credit Union1.76% (2.00% 36-47 month Share Certificate closed after 2 years)Northern California See review
First Service Credit Union1.75% ($50k) 24-month CertificateHarris and Waller Counties, Texas See review
Bellwether Community Credit Union1.70% 22-month Certificate SpecialNew Hampshire See review
Sandy Spring Bank1.70% ($10k) 27-month Premier CD SpecialMaryland and Northern Virginia See review
Triangle Credit Union1.70% 28-month CD Special5 New Hampshire and 4 Massachusetts counties See review
First Bank1.70% 29-month CD SpecialFlorida See review
Cornhusker Bank1.66% 27-month CD SpecialLancaster County, Nebraska See review
First American International Bank1.65% ($100k) 26-month New Year CD Special New York City See review
First Financial Credit Union1.625% 24-month Regular CD California Teachers Association affiliation See review
F & A Credit Union1.61% 24-35 month Term Share Certificate City and County employees in Southern California
Advia Credit Union1.60% 22-month Promo CD 68 Michigan, 7 Wisconsin, and 1 Illinois counties See review
Cedar Falls Community Credit Union1.60% 25-month Special Share Certificate7 Iowa counties See review
Community First Bank1.60% 29-month CD Special21 western Pennsylvania counties

3-Year CD Rates

Capital One1.93% (2.30% 60-month 360 CD closed after 3 years)See review
Hughes Federal Credit Union1.87% ($99k), 1.76% ($50k), 1.66% ($1k) 36-month CDEasy membership
Fidelity Brokered CD1.85% 3-year non-callable CD
RTN Federal Credit Union1.85% 37-month CD SpecialEasy membership See review
UNIFY Financial Credit Union1.84% (2.00% 60-month Share Certificate closed after 3 years)Easy membership requirements
Melrose Credit Union1.81% 3-year Share CertificateCurrently operating under an NCUA conservatorship
EverBank1.81% 3-year Yield Pledge CD Internet bank
Popular Direct1.80% ($10k) 3-year Popular Direct CDInternet bank
Kirtland Federal Credit Union1.76% ($200k) 36-month Share CertificateLimited membership, military relationship See review
Third Federal Savings & Loan1.75% 35-month CD Special See review
The Vanguard Group Brokered CD1.75% 3-year non-callable CDIssued by Ally Bank
Connexus Credit Union1.75% 3-year CD w/active chk
Synchrony Bank1.70% ($100k) 36-month CD Internet bank See review
Veridian Credit Union1.70% ($100k) 39-month Jumbo CD Easy membership See review

Noteworthy Local Deals - 3-Year CDs

Bank of New England2.27% ($10k) 36-47 month CDSoutheast New Hampshire and nearby Massachusetts See review
Institution for Savings2.25% 36-month CDMassachusetts' North Shore See review
1st Gateway Credit Union2.05% 40-month CD SpecialEastern Iowa, Western Illinois
Haverhill Bank2.02% 36-month CDNE Massachusetts and nearby New Hampshire See review
Perpetual Federal Savings Bank2.02% 36-month CDCentral Ohio See review
Farmers State Bank2.02% 39-month CD3 NE Iowa counties See review
VITAL Federal Credit Union2.01% 36-month CDSpartanburg County, South Carolina See review
American United Federal Credit Union2.00% 36-month Share Certificate (bump rate or 0.10% rate increase)Salt Lake and Tooele Counties, Utah See review
Firstmark Credit Union2.00% ($100k) 30-month Promo CD15 Texas counties See review
Vibrant Credit Union2.00% 33-month CD SpecialIowa, Illinois Quad Cities area
Fairport Savings Bank2.00% 35-month CD SpecialNew York State See review
Patelco Credit Union2.00% 36-47 month Share CertificateNorthern California See review
Financial One Credit Union2.00% 40-month Share Certificate SpecialAnoka County, MN; northeast Minneapolis area See review
Gulf Coast Credit Union1.95% 36-month Share CertificateJim, Nueces, and San Patricio Counties, TX
First Service Credit Union1.95% ($50k) 36-month CertificateHarris and Waller Counties, Texas See review

4-Year CD Rates

Fidelity Brokered CD2.25% 4-year non-callable CD
Melrose Credit Union2.07% 4-year Share CertificateCurrently operating under an NCUA conservatorship
Kirtland Federal Credit Union2.04% ($200k) 48-month Share CertificateLimited membership, military relationship See review
Capital One2.03% (2.30% 60-month 360 CD closed after 4 years)See review
Bay State Savings Bank2.00% 48-month CD
Latino Credit Union2.00% 48-month CD Easy membership See review
NASA Federal Credit Union2.00% 49-month CD Special
First Internet Bank1.97% 48-month CDInternet bank See review
EverBank1.87% 4-year Yield Pledge CDInternet bank See review
UNIFY Financial Credit Union1.84% (2.00% 60-month Share Certificate closed after 4 years)Easy membership requirements
SelfHelp Credit Union1.81% 48-month CD
Popular Direct1.81% ($10k) 4-year Popular Direct CDInternet bank
Capital One 3601.80% 48-month CD
Virtual Bank1.78% 4-year eCD Internet bank
PenFed Credit Union1.76% 4-year Money Market CertificateEasy membership See review

Noteworthy Local Deals - 4-Year CDs

Institution for Savings2.50% 48-month CDMassachusetts' North Shore See review
Institution for Savings2.50% ($250k) 4-year Money Market CD (also requires $250K in MMA)Parts of Massachusetts
Tech Credit Union2.48% ($100k) 50-month Jumbo CompoundCD4 NW Indiana and 2 NE Illinois counties See review
Jefferson Financial Credit Union2.38% ($10k) 48-month Share Certificate4 Louisiana Parishes See review
Tech Credit Union2.33% 50-month Premium Compound CD4 NW Indiana and 2 NE Illinois counties See review
Deere Employees Credit Union2.30% 48-month Share CertificateEmployees and retirees of Deere & Company See review
Primary Bank2.25% ($10k) 4-year Choice CDNew Hampshire See review
First Service Credit Union2.20% ($50k) 48-month CertificateHarris and Waller Counties, Texas See review
Pelican State Credit Union2.19% 48-month CDRapides Parish, Louisiana
East Boston Savings Bank2.16% 48-month CD SpecialBoston metro area See review
Beaumont Community Credit Union2.12% 48-month Share CertificateJefferson County, TX
Achieva Credit Union2.10% ($75k) 48-month IRA Plus 10 Florida counties See review
Perpetual Federal Savings Bank2.07% 48-month CDCentral Ohio See review
Security Savings Bank2.06% 48-month CDTri-state area of SD, IA, and MN
Member One Credit Union2.05% 48-month CDVirginia

5-Year CD Rates

Mountain America Credit Union2.75% 5-year Bump Term Deposit SpecialEasy membership See review
Melrose Credit Union2.42% 5-year Share CertificateCurrently operating under an NCUA conservatorship
Fidelity Brokered CD2.40% 5-year non-callable CD
The Vanguard Group Brokered CD2.40% 5-year non-callable CDIssued by Wells Fargo
United States Senate Federal Credit Union2.40% ($60k), 2.34% ($20k), 2.28% ($1k) 60-month CD Easy membership
State Bank of India (IL)2.32% 5-year CD
Capital One2.30% 60-month 360 CDSee review
EverBank2.30% 5-year Yield Pledge CD Internet bank
State Farm Bank2.30% 5-year CDInternet bank See review
Popular Direct2.28% ($10k) 5-year Popular Direct CDInternet bank
Clark County Credit Union2.27% 60-month CDEasy membership See review
First Internet Bank2.22% 60-month CDInternet bank See review
NuVision Federal Credit Union2.20% 5-year Certificate ($100k)Easy membership requirements See review
Kirtland Federal Credit Union2.20% ($200k) 60-month Share CertificateLimited membership, military relationship See review
Signal Financial Credit Union2.16% 60-month Share CertificateEasy membership requirements See review
Chevron Federal Credit Union2.15% ($250k) 5-year SuperShare 250 CD See review

Noteworthy Local Deals - 5-Year CDs

General Electric Credit Union2.75% 5-year CDSouthwest Ohio
Firelands Federal Credit Union2.60% 60-month Share Certificate5 north-central Ohio counties See review
Jefferson Financial Credit Union2.58% ($10k) 60-month Share Certificate4 Louisiana Parishes See review
Achieva Credit Union2.55% ($75k) 60-month IRA Plus 10 Florida counties See review
Arbor Financial Credit Union2.53% 62-month CD Special21 southwest Michigan counties See review
University Federal Credit Union2.50% 60-month CDSalt Lake County, Utah See review
Bank of Utica2.50% 5-year CDUtica, NY area
Cyprus Credit Union2.50% 60-month CD and Dream CD Utah See review
Utah Community Credit Union2.50% 60-month Regular CDJuan, Sanpete, Salt Lake, and Wasatch Counties, Utah See review
Granite Credit Union2.50% 60-month CertificateSalt Lake County, Utah See review
First Service Credit Union2.45% ($50k) 60-month CertificateHarris and Waller Counties, Texas See review
American United Federal Credit Union2.40% 60-month CD (includes 0.10% rate increase)Salt Lake and Tooele Counties, Utah See review
Deere Employees Credit Union2.35% 60-month Share CertificateEmployees and retirees of Deere & Company See review
IH Mississippi Valley Credit Union2.32% 60-month CD Quad Cities area, IL and IA
TruMark Financial Credit Union2.30% ($75k) 60-month Jumbo CD5 Southeastern Pennsylvania counties See review
The First National Bank of Long Island2.25% 5-year IRA CD SpecialLong Island, Brooklyn, Manhattan, Queens See review
Texasgulf Federal Credit Union2.20% 60-month Share CertificateWharton County, Texas See review

Over 5-Year CD Rates

The Vanguard Group Brokered CD2.90% 10-year non-callable CDIssued by Discover Bank
Fidelity Brokered CD2.90% 10-year non-callable CD
Apple Federal Credit Union2.60% 120-month CD
The Vanguard Group Brokered CD2.60% 7-year non-callable CDIssued by Discover Bank
Fidelity Brokered CD2.60% 7-year non-callable CD
Andrews Federal Credit Union2.25% 72-month IRA Certificate See review
Elements Financial2.25% 10-year CDEasy membership
Apple Federal Credit Union2.25% 84-month CD
Northrop Grumman Federal Credit Union2.24% ($40k) 84-month Bonus Term CDEasy membership
Andrews Federal Credit Union2.20% 84-month Share Certificate See review
Discover Bank2.20% 10-year CD
PenFed Credit Union2.12% 7-year Money Market CertificateEasy membership See review
Elements Financial2.10% 7-year CDEasy membership
Navy Federal Credit Union2.05% ($100k), 2.00% ($20k), 1.95% ($1k) 7-year CDEasy membership See review

Noteworthy Local Deals - Over 5-year CDs

The First National Bank of Long Island3.05% 10-year IRA CD SpecialLong Island, Brooklyn, Manhattan, Queens See review
Black Hills Federal Credit Union2.70% ($200k) 7-8 year Ultimate CD (w/checking)South Dakota See review
Sharefax Credit Union2.68% ($15k) 80-month Gold Share CertificateSouthwestern Ohio
The First National Bank of Long Island2.65% 7-year IRA CD SpecialLong Island, Brooklyn, Manhattan, Queens See review
San Antonio Federal Credit Union2.60% 10-year Share CertificateSan Antonio, TX
MidFirst Direct2.50% 84-month CDAZ, AR, CA, CO, FL, MO, NH, NV, NY, OK, TX, WY See review
Financial Center First Credit Union2.50% 84-month Share Certificate10 central Indiana Counties (greater Indianapolis)
Island Federal Credit Union2.50% 84-month CertificateNassau and Suffolk Counties, NY See review
Wright-Patt Credit Union2.46%($100k) 72-month CD 10 Ohio counties See review
Advia Credit Union2.30% 70-month Promo CD 68 Michigan, 7 Wisconsin, and 1 Illinois counties See review
First Republic Bank2.25% ($10k) 6-year CDCA, CT, FL, MA, NY, OR See review
First National Bank (PA)2.25% 10-year CD Special ($10k)PA, MD, OH, WV
PeoplesChoice Credit Union2.22% 84-month CDYork and Cumberland Counties, Maine
Gesa Credit Union2.20% 7-year CDWashington State

CDs Removed Due To Low Rates Or Expired Specials

CDs Removed, No Longer Available - Nationwide

None

CDs Removed, No Longer Available - Local

Coastal Heritage Bank1.60% 9-month CD SpecialMassachusetts' South Shore See review
Geauga Savings Bank1.40% ($25k) 7-month CD Special w/checking3 northeast Ohio counties See review
Geauga Savings Bank1.20% ($25k) 7-month CD Special w/o checking3 northeast Ohio counties See review
Coastal Heritage Bank1.60% 12-month CD SpecialMassachusetts' South Shore See review
Credit Union of New Jersey2.00% ($25k max) 20-month Certificate Special w/checking Easy membership See review
New Dimensions Federal Credit Union1.51% 15-month Share CertificateKennebec and Somerset Counties, Maine See review

CDs Removed, Rate Too Low - National

SafeAmerica Credit Union0.65% 14-month CD Special Easy membership See review
SafeAmerica Credit Union0.95% 30-month CD Special Easy membership See review
SafeAmerica Credit Union1.71% 60-month CDEasy membership See review
PenFed Credit Union2.07% 5 -year Money Market CertificateEasy membership See review

CDs Removed, Rate Too Low - Local

Horizon Credit Union1.41% 26-month Special CertificateWashington, 8 Idaho and 14 Montana countiesSee review
Glass City Federal Credit Union1.91% 40-month CD Special4 Northwestern Ohio counties See review
Mid-Minnesota Federal Credit Union1.89% 36-month Fast Forward Time Share9 Minnesota counties See review

Post Publication Edits

3/16/17: Vanguard Group 2-year non-callable CD rate raised.

Comments
Richard
Richard   |     |   Comment #2
Ken, I’ve been checking the Vanguard website each day from 3/8/2017 until today and I have not seen any new issue, non-callable, brokered CDs by Discover Bank at 2.40% (5-year term) and 1.55% (2-year term). Perhaps you intended to indicate that Wells Fargo Bank was associated with the 5-year CD rate and Ally Bank was associated with the 2-year CD rate. That’s what I found posted on the Vanguard website.
Ken Tumin
Ken Tumin   |     |   Comment #4
Thanks for the comment. You're right about the issuing bank for the 5yr CD being Wells Fargo. Wells Fargo is also offering a 1.60% 2yr CD. The post has been updated.
Bozo
Bozo   |     |   Comment #5
For those of us with jumbo CDs coming due in the next few months (and who rely on the income thereof), it's a difficult decision. Should I go with a financial institution half-way across the country, or further, or stick close to home? I'm tempted by the additional basis points of the Mountain America 5-yr CD (2.75). Any feedback on Mountain America would be appreciated.

The alternative would be a StateFarmBank 5-yr at 2.3. Forty-five basis points is not exactly chump change.
LuvCD
LuvCD   |     |   Comment #6
Didn't someone post that Mt Am rate expired?
Bozo
Bozo   |     |   Comment #7
Not that I'm aware. Now you have me curious. I'll go check

I just checked. The 2.75% is still there on their web-page.
Friend
Friend   |     |   Comment #8
It doesn't matter to me if an institution is all the way across the country, but I happen to be lucky enough to have a Navy Federal CU and a Mountain America CU nearby. As the last of my PenFed CDs matured in February I followed the excellent instructions here and joined NFCU to take advantage of the 17-month 2% IRA with that transfer. NFCU has a $50k maximum so I took the remainder to Mountain America. I had already joined the consumer council for membership in Andrews, so just took my certificate with me. The loan officer that assisted me was bright, personable, and efficient. She told me right away about the credit pull which for me is a non-issue. I decided to open a second CD while there with a Roth
contribution. Still deciding if I want to park some cash there or at NFCU, but am happy with both CUs so far. I haven't used either website yet so can't comment on user friendliness of either. The only downside I see to Mountain America is with the EWP. I also think it's a long shot that the rate will increase to allow one to take advantage of the one-time rate bump. But if it does, bonus!
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