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CD Rates Index – Week of February 18, 2013

Feb. 18, 2013
Banking, CDs
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

If you happen to take a second glance at your $20 bill this Presidents’ Day and wonder how it is that Andrew Jackson is staring back at you, you may want to brush up on your knowledge of presidents on the money.

If instead you are looking to save rather than spend your spare cash, be warned that the certificates of deposit are in a major rut. Average yields have been declining week after week, but there are still some outliers that could serve your savings well. Check out the accounts below to see if there’s a great rate at a bank or credit union near you. You may also want to reference our list of notable online bank CDs. They often have smaller or no minimums, and many offer other bonus perks.

Reference Table:

Length of Term (months) Average Promo APY Average Reg. APY
3 0.23% 0.16%
6 0.84% 0.26%
12 0.50% 0.40%
18 0.55% 0.46%
24 0.59% 0.60%
30 0.83% 0.62%
36 0.79% 0.79%
48 0.90% 0.96%
60 1.22% 1.19%

CD rates that beat the average

Short-term CDs

Institution State Term APY Notes
Tulsa Teachers CU OK 6 months 0.80% Min $1,000
Customers Bank PA 11 months 0.80% Min $500
CapitalSource Bank CA 9 months 0.70% Min $1,000

1-2 year CDs

Institution State Term APY Notes
Texar FCU TX 1 year 1.50% Online Only; Min $1,000
Labor Management FCU KY 2 years 1.25% Min $1,000
Platinum FCU GA 2 years 1.00% Min $1,000

3+ year CDs

Institution State Term APY Notes
Encompass CU IN 5 years 2.53% Min $500
Idaho Central CU ID 5 years 2.15% Min $500
Charles Street Community FCU IN 4 years 2.07% Min $500

Banking image via shutterstock