Compare 1 year CD rates (certificate of deposit rates) from thousands of banks and credit unions. We track daily rates for thousands of institutions to help you find the best deal on your next CD.
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1-Year CD Rates
CD rates, or certificate of deposit rates, are offered in a variety of maturity dates. The 1-Year CD rates in the table above are listed based on Annual Percentage Yield, from the highest interest rates to the lowest. By clicking on the plus button to the left of an offering, you can view account details and rate history for that particular product. If you click on the bank or credit union’s name, you will be taken to our hub for that financial institution. On this hub page, you can view a map of the branch locations, other product rates, and consumer reviews.
1-Year CD Rate History – Average APY (%) Rate Trend over Time
What is a 1-Year CD?
A 1-Year CD is defined by the Federal Reserve as a time deposit, and is sometimes called a 12-Month CD. A depositor who makes a time deposit at a given financial institution typically cannot withdraw any of the funds deposited until the end of an agreed upon time period (the duration of the CD term), unless he or she pays an early withdrawal penalty, as agreed upon with that institution. At FDIC and NCUA insured institutions, which cover the vast majority of banks and credit unions in the United States, your deposits are covered up to $250,000. Check the ‘Overview’ section on the bank or credit union’s hub page to see whether a particular institution you are interested in is insured.
What Are CDs Used For?
Many savers use CDs to store cash for a fixed period of time, during which they don’t think that they will need to access the committed funds. The 1-Year CD is a secure way to grow savings over a short period of time and will typically gain slightly more in interest than a high interest savings account over that period. Many banks and credit unions will allow you to sign up for and fund a CD online, but most require you to mail in a signed authorization form for confirmation. From time to time interest rates will increase during a period of CD ownership. We have a CD calculator available to help you determine if and when it is wise to break a CD in order to take advantage of an increasing rate environment.