Post image for CD Rates Index – Week of November 19, 2012

CD Rates Index – Week of November 19, 2012

by on November 19, 2012

As we look forward to a day of feasting and spending time with loved ones this Thanksgiving, savers who were able to lock in a high cd rate a few years ago should be especially thankful. Even 3 year CDs, with average yields below 0.90% are struggling to keep up with some of the best online savings accounts. Average rates declined a few basis points this week for most terms, and even promotional rates are not offering significantly improved yields.

What can be done? In keeping with the spirit of shopping around for Black Friday deals, consumers can still work to find the best CD rates possible and make the best of a bad situation. See below for some of the highest yielding accounts.

Reference Table:

Length of Term (months) Average Promo APY Average Reg. APY
3 0.37% 0.18%
6 0.38% 0.28%
12 0.46% 0.42%
18 0.58% 0.48%
24 0.66% 0.63%
30 0.94% 0.66%
36 0.86% 0.84%
48 1.13% 1.01%
60 1.32% 1.25%

CD rates that beat the average

Short-term CDs

Institution State Term APY Notes
HomeBanc N.A. FL 3 months 1.50% SPECIAL: New Money, Min $10,000
Utah Power CU UT 6 months 1.15% Min $1,000
Fort Dodge Family CU IA 6 months 1.00% Min $500

1-2 year CDs

Institution State Term APY Notes
Riverdale CU AL 2 years 1.59% Min $500
Ed-Med FCU NY 2 years 1.51% Min $1,000
AB & W CU VA 2 years 1.50% Min $1,000

3+ year CDs

Institution State Term APY Notes
Northwoods CU MN 5 years 2.26% Min $1,000
Telcoe FCU AR 5 years 2.17% Min $1,000
Delta County Credit Union MI 5 years 2.17% Min $1,000

Online Feature

Credit unions and community banks aren’t for everyone. Online banks are excellent options for savers, especially when it comes to CDs. They tend to offer rates much higher than the average.

Ally Bank offers a convenient 12-month CD with no minimum balance required to open and you’ll earn a respectable 1.04% APY on the balance.
Banking image via shutterstock

Unsure where to keep your savings?
Use our tool to find the best CD rates.
We want to hear from you and encourage a lively discussion among our users. Please help us keep our site clean and safe by following our posting guidelines, and avoid disclosing personal or sensitive information such as bank account or phone numbers. Any comments posted under NerdWallet's official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise.