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Wednesday, April 27, 2011

Survey Survey Best CD Rates

The top CD annal percentage yield (APY) this week is at Discover Bank for a 10-year certificate of deposit currently paying 3.00%.

With the 10-year US Treasury paying 3.36%, there is little incentive to lock up money for 10 years at banks.   For shorter periods, like one to five years, you do better with bank CDs.  For example, the Pacific Mercantile Bank currently pays 1.26% for their 1-yr CDs while the 1-YR US Treasury only pays a minute 0.20%.

With rates so low, banks will try to sell you their annuity products. Make sure you read my article: Beware of Annuities
The table below shows the best CD rates for other terms. If that table is hard to read, then try Very Best CD Rates.
 
"Highest CD Rate Survey + Current US Treasury Rates"

Term
Highest
Rate (APY)
Where?
(Click link for Full Rate Sheets)
Vanguard Daily
0.07%
Vanguard Prime Money Market Fund
Vanguard Tax Exempt
0.13%
Vanguard Tax Exempt Money Market Fund
FDIC Daily Savings
1.25%
Best Savings Account Rate Survey 
6 Month CD
1.07%
  Ascencia Internet Bank
1 Year CD
1.26%
 Pacific Mercantile Bank
1 Yr US Treasury
0.20%
US Treasury Rate Quote
18 - Month CD
1.41%
 Pacific Mercantile Bank  
2 Year CD
1.66%
Melrose CU & 1.55% @ MetLife Bank
3 Year CD
2.17%
 Melrose CU 
4 Year CD
2.42%
Melrose CU & 2.35% @ Tennessee Commerce Bank
5 Year CD
2.93%
Melrose CU & 2.65% @ Tennessee Commerce Bank
5 Yr US Treasury
2.07%
US Treasury Rate Quote
7 Year CD
2.75%
  PenFed CU
10 Year CD
3.00%
Discover Bank
10 Yr US Treasury
3.36%
US Treasury Rate Quote
Vanguard Money Market & US Treasury Rates shown for Reference  
With rates so low, banks will try to sell you their annuity products. Make sure you read my article: Beware of Annuities

Historical CD Rates: 
Click charts to see full size images

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