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CD Rates Index – Week of March 4, 2013

March 4, 2013
Banking, CDs
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Average CD rates for non-promotional accounts remained exactly the same as reported last week, which is ever so slightly promising, following weeks of minuscule declines for all terms. You can find accounts with yields far above the competition by shopping around at online banks or local institutions. Thanks to the internet, you can do this from home and save the commute, especially if you live in one of the 10 worst cities for drivers.

Reference Table:

Length of Term (months) Average Promo APY Average Reg. APY
3 0.23% 0.16%
6 0.89% 0.26%
12 0.51% 0.39%
18 0.49% 0.45%
24 0.57% 0.60%
30 0.81% 0.62%
36 0.80% 0.79%
48 0.91% 0.96%
60 1.23% 1.18%

CD rates that beat the average

Short-term CDs

Institution State Term APY Notes
APCO Employees CU AL 6 months 1.00% Min $2,500
Country Heritage CU MI 6 months 0.91% Min $1,000
San Patricio County Teachers FCU TX 6 months 0.86% Min $2,500

1-2 year CDs

Institution State Term APY Notes
Riverdale CU AL 2 years 1.59% Min $500
Birmingham Police CU AL 2 years 1.49% Min $1,000
Security Service FCU CO, TX, UT 13 months 1.10% Min $500

3+ year CDs

Institution State Term APY Notes
Self Reliance NY FCU NY 5 years 3.05% Min $500
Progressive CU NY 5 years 2.32%
First NBC Bank LA 3 years 1.76% Min $1,000

401(K) 2013 / Flickr source