CD rates, much like average incomes, unemployment rates or the cost of a hamburger can vary greatly from place to place. NerdWallet’s new cost of living calculator, launched yesterday, can help you compare cities by day-to-day living expenses, but if it’s higher savings yields you’re looking for, you may want to check your local credit union or community bank.
Average rates all around continue to inch downwards, putting more pressure on consumers seeking respectable CD yields. Read on for examples of where you can find CD rates beating the national average. For more suggestions, try our tool to find the best CD rates in your area.
|Length of Term (months)||Average Promo APY||Average Reg. APY|
CD rates that beat the average
|Coventry CU||RI||6 months||1.00%||Min $1,000|
|First Imperial CU||CA||6 months||0.85%||Min $500|
|West Virginia Central CU||WV||3 months||0.80%||Min $1,000|
1-2 year CDs
|Denali Alaskan FCU||AK||2 years||1.36%||Min $500|
|Collins Community CU||IA||15 months||1.21%||CD SPECIAL; Min $1,000|
|NexBank, SSB||TX||1 year||1.05%||Min $10,000|
3+ year CDs
|Synergy FCU||TX||5 years||2.12%||Min $1,000|
|University of Iowa Community CU||IA||37-48 months||2.00%||Min $500|
|First NBC Bank||LA||3 years||1.76%||Min $1,000|
Banking image via shutterstock