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CD Rates Index – Week of January 21, 2013

Banking, CDs

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.

Reference Table:

Length of Term (months) Average Promo APY Average Reg. APY
3 0.24% 0.17%
6 0.43% 0.27%
12 0.51% 0.40%
18 0.50% 0.46%
24 0.61% 0.61%
30 0.85% 0.64%
36 0.78% 0.81%
48 0.88% 0.97%
60 1.23% 1.20%

CD rates that beat the average

Short-term CDs

Institution State Term APY Notes
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

Institution State Term APY Notes
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

Institution State Term APY Notes
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