Top 12 Month (One Year) CD Rates

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Top Three Year CD Rates

About BestRateGuru

BestRateGuru provides the best rates on savings accounts, certificates of deposit (cds), money market funds, bonds, and more. We concentrate on providing the most up-to-date rates in an easy-to-read format.

About Certificates of Deposit

Certificates of Deposit, otherwise known as CDs are bank deposit products that provide a guaranteed return over a fixed period of time, otherwise known as a term. Banks generally offer terms of 3, 6, 12, 18, 24, 36, and 60 months although there are a variety of other non-standard terms.

Money deposited into Certificates of Deposit are guarateed by the FDIC up to the FDIC insurance limits, as long as the bank participates in the FDIC program. All banks listed on BestRateGuru are FDIC insured.

For depositors, Certificates of Deposit offer a way to get a guaranteed return with the safety of the Federal government.

CD Early Withdrawal Penalty

If the money is withdrawn before the end of the term, a penalty is assessed on the deposit which can range from 3 months interest to other provisions. Check with the bank before deposting your money to understand the early-withdrawl penalty.

CD Maturity

Upon maturity, or the end of the term, the money can be withdrawn or rolled into another CD term. It is best to not let the CD automatically roll over as often the new term is at a lower rate than the original.

CD Rates

CD rates are usually a bit higher than savings and money market rates because depositors need to be compensates for locking their money up for a period of time. There can be exceptions. In a rising rate environment, banks generally want to lock their customers into CDs to hedge against higher future interest costs. In a falling rate environment, like what we have now, banks may try to keep more customers in savings accounts to take advantage of lower future borrowing costs.

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Disclosures:

BestRateGugu.com provides certain financial information free of charge to Internet users for their independent use. Information provided on this website is for information purposes only and is not intended to provide investment advice, nor to endorse a financial product of any sort. The website’s operators cannot and do not guarantee the accuracy of information provided on this website. Please check with each financial institution or data provider to verify the accuracy of the information. Users of this website are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.