Top CD Rates at Largest US Banks

Interest rates are starting to go up on the long end while the short term rates are terribly low. This week's survey or CD rates at the largest US banks shows BofA advertises 2.25% for a 5-year CD with Citibank paying the lowest for 5-years at 2.0%.    Historical CD Rate Graphs

When we did our last survey of rates at the largest banks, a 5-year CD at the largest US Bank, Bank of America, was only 1.40%.  Chase and Citi paid 2.5% and 1.50%, respectively.  

Unfortunately, short term rates remain extremely low.  Thus, I've kept most of my "cash reserves" in high rate savings accounts with the top rate now 1.30% at American Express. See  Best Savings Account Rate Survey  

Top CD Rates at Biggest US Banks

Rank	Bank	CD Rates for $10,000 CD  - APY in % as of 3/7/11
		6- Mo	12 Mo	18-Mo	2-Yrs	3-Yrs	5-Yrs
1	Bank of America (BAC)	0.30	0.60 promo	0.45	0.65	1.01	2.25
2	JP Morgan Chase  (JPM)	0.25	0.60 13-mo	0.50	0.50	1.01	2.25
3	Citibank (C)	0.25	0.50	0.60	0.75	1.01	2.00
4	Wells Fargo Bank (WFC)	0.10	0.15		0.65 25 Mo	0.93 33 Mo	2.15% 58 Mo
5a	HSBC Bank North America -	0.05	0.10	0.20 15-mo	0.35	0.35	0.80
5b	HSBC Online Rates	0.10	0.20	0.20 15-mo	0.35	NA	NA
	US Treasury Rates	0.15	0.22	NA	0.69	1.19	2.18

6-Month CD  Daily Chart 

Click for full size chart

Best CD Rates - Survey of Largest US Banks

This table, updated yesterday, shows the best CD rates for the five largest banks operating in the United States. These banks are Bank of America, JP Morgan Chase, Citibank, Wells Fargo Bank, and HSBC Bank North America.

CD rates (APY) at the largest US banks (Current Data) for a $10,000 deposit.

Bank	CD Rates - APY in % as of 12/08/09 for $10,001
	6- Mo	12 Mo	18-Mo	2-Yrs	3-Yrs	5-Yrs
Bank of America (BAC)	0.40	1.00 promo	0.95	1.50	1.86	2.51
JP Morgan Chase (JPM)	0.50 7-mo	1.01 13-mo		1.50	2.00	3.00
Citibank (C)	0.50	1.00	1.09	1.39	1.49	2.23
Wells Fargo Bank (WFC)	0.40	0.40	1.40 21 Mo	1.40 25 Mo	NA	NA
HSBC Bank North America - Branch & Telephone Rates	0.25	0.55	0.55 15-mo	0.75	0.75	1.01
HSBC Online Rates	0.50	1.25	1.25 15-mo	1.10	NA	NA
US Treasury Rates	0.14	0.25	NA	0.72	1.23	2.10

To see the table in full size with the current rates, click the

• Best CD Rate Survey of the Top US Banks

Notes:

• Bank of America or BofA (BAC stock quotes and charts) was "Nations Bank" before it bought Bank of America and took the name. BofA also bought Merrill Lynch officially as of January 1, 2009.
  
• JP Morgan Chase (JPM stock quote and charts) bought Washington Mutual, fondly known as "WaMu"
• Citibank (C stock quote and charts) is also known as Citigroup & Citicorp
• Wells Fargo Bank (WFC stock quotes and charts) bought Wachovia Bank- that bought World Savings Bank)
  
• HSBC Bank North America is the American subsidiary of UK-based HSBC Holdings plc. The Hong Kong and Shanghai Banking Corporation, also a subsidiary of HSBC Holdings, acquired a 51% shareholding in Marine Midland Bank of New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA.

1-Month CD Daily Chart

6-Month CD Daily Chart

One way to get four of the top five banks in a single investment is with the exchange traded fund XLF (XLF charts).

Disclaimer: I own C (charts) and XLF (charts) in my personal account. I also cover C and XLF in my investment letter where I trade them around a core position currently in the money for both. I could sell all shares at any time to lock in my profits if my opinion sours on the sector as a whole.

Link Summary:

• Charts and Quotes for: BAC - C - JPM - WFC - XLF
  
  
• 1-Month CD Daily Chart
  
  
• 6-Month CD Daily Chart
  
  
• Current Best CD Rate Survey of the Top US Banks

==> Best CD Rates with FDIC <==
A survey of large and small banks for best rates by term

Best CD Rates - Survey of Largest US Banks

This table, updated today, shows the best CD rates for the five largest banks operating in the United States. These banks are Bank of America, JP Morgan Chase, Citibank, Wells Fargo Bank, and HSBC Bank North America.

CD rates (APY) at the largest US banks (Current Data) for a $10,000 deposit.

Rank Bank CD Rates - APY in % as of 11/04/09 for $10,000 6- Mo 11-13 Mo 18-Mo 2-Yrs 3-Yrs 5-Yrs 1 Bank of America (BAC) 0.50 1.25 Promo 1.00 2.01 2.30 3.01 2 JP Morgan Chase (JPM) Bought WaMu -Washington Mutual 0.75 1.25 1.50 2.00 NA 4yrs 3.00% 3 Citibank (C) aka Citigroup & Citicorp 0.65 1.30 1.35 2.00 2.15 3.00 4 Wells Fargo Bank (WFC) Bought Wachovia - World Savings 0.35 0.90 16 Mo 1.40 21 Mo 1.90 28 Mo NA NA 5a HSBC Bank North America - Branch & Telephone Rates 0.25 0.55 0.55 15-mo 0.75 0.75 1.01 5b HSBC Online Rates 1.10 1.50 1.50 15-mo 1.30 NA NA US Treasury Rates 0.16 0.36 NA 0.94 1.46 2.38

To see the table in full size with the current rates, click the

• Best CD Rate Survey of the Top US Banks

Notes:

• Bank of America or BofA (BAC stock quotes and charts) was "Nations Bank" before it bought Bank of America and took the name. BofA also bought Merrill Lynch officially as of January 1, 2009.
  
• JP Morgan Chase (JPM stock quote and charts) bought Washington Mutual, fondly known as "WaMu"
• Citibank (C stock quote and charts) is also known as Citigroup & Citicorp
• Wells Fargo Bank (WFC stock quotes and charts) bought Wachovia Bank- that bought World Savings Bank)
  
• HSBC Bank North America is the American subsidiary of UK-based HSBC Holdings plc. The Hong Kong and Shanghai Banking Corporation, also a subsidiary of HSBC Holdings, acquired a 51% shareholding in Marine Midland Bank of New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA.

==> Best CD Rates with FDIC <==
A survey of large and small banks for best rates by term

One way to get four of the top five banks in a single investment is with the exchange traded fund XLF (XLF charts).

6-Month Certificate of Deposit: Secondary Market Rate

Disclaimer: I own C (charts) and XLF (charts) in my personal account. I also cover C and XLF in my investment letter where I trade them around a core position currently in the money for both. I could sell all shares at any time to lock in my profits if my opinion sours on the sector as a whole.

Best CD Rates - Survey of Largest US Banks

This table, updated today, shows the best CD rates for the five largest banks operating in the United States. These banks are Bank of America, JP Morgan Chase, Citibank, Wells Fargo Bank, and HSBC Bank North America.

CD rates (APY) at the largest US banks (Current Data) for a $10,000 deposit.

Bank	CD Rates - APY in % as of 10/02/09 for $10,000
	6- Mo	1-Yr	18-Mo	2-Yrs	3-Yrs	5-Yrs
Bank of America (BAC)	0.50	1.45	1.00	2.01	2.30	3.01
JP Morgan Chase (JPM)	0.75	1.25	1.50	2.00	2.25	3.00
Citibank (C)	0.75	1.49	1.73	1.98	2.23	3.44
Wells Fargo Bank (WFC)	0.35	0.50	0.90 16-mo	1.40 21-mo	1.90 27-mo	NA
HSBC Bank North America - Branch & Telephone Rates	0.25	0.55	0.55 15-mo	0.75	0.75	1.01
HSBC Online Rates	1.10	1.85	1.85 15-mo	1.60
US Treasury Rates	0.13	0.34	NA	0.86	1.35	2.20

To see the table in full size with the current rates, click the

• Best CD Rate Survey of the Top US Banks

Notes:

• Bank of America or BofA (BAC stock quotes and charts) was "Nations Bank" before it bought Bank of America and took the name. BofA also bought Merrill Lynch officially as of January 1, 2009.
  
• JP Morgan Chase (JPM stock quote and charts) bought Washington Mutual, fondly known as "WaMu"
• Citibank (C stock quote and charts) is also known as Citigroup & Citicorp
• Wells Fargo Bank (WFC stock quotes and charts) bought Wachovia Bank- that bought World Savings Bank)
  
• HSBC Bank North America is the American subsidiary of UK-based HSBC Holdings plc. The Hong Kong and Shanghai Banking Corporation, also a subsidiary of HSBC Holdings, acquired a 51% shareholding in Marine Midland Bank of New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA.

One way to get four of the top five banks in a single investment is with the exchange traded fund XLF (XLF charts).

XLF Top Holdings % as of 8/31/09
J.P. Morgan Chase & Co. = 12.28
Bank of America Corporation = 11.01
Wells Fargo Company = 9.28
Goldman Sachs Group Inc. = 6.03
Citigroup Inc. = 4.11
% Assets in Top 5 Holdings = 42.70

==> Best CD Rates with FDIC <==

A survey of large and small banks for best rates by term

Disclaimer: I own C (charts) and XLF (charts) in my personal account. I also cover C and XLF in my investment letter where I trade them around a core position currently in the money for both. I could sell all shares at any time to lock in my profits if my opinion sours on the sector as a whole.

Best CD Rates at the Largest Banks in the US

This table shows the best CD rates for the five largest banks operating in the United States. These banks are Bank of America, JP Morgan Chase, Citibank, Wells Fargo Bank, and HSBC Bank North America.

CD rates (APY) at the largest US banks (Current Data) for a $10,000 deposit.

Bank	CD Rates - APY in % as of 9/24/09 for $10,000
	6- Mo	1-Yr	18-Mo	2-Yrs	3-Yrs	5-Yrs
Bank of America (BAC)	0.50	0.95	1.00	2.10	2.30	3.01
JP Morgan Chase (JPM) Bought WaMu -Washington Mutual	0.75	1.25	1.50	2.15	2.25	3.00
Citibank (C) aka Citigroup & Citicorp	0.75	1.49	1.73	1.98	2.23	3.44
Wells Fargo Bank (WFC) Bought Wachovia - World Savings	0.30	0.60	0.90 15-mo	1.40 20-mo	1.90 27-mo	NA
HSBC Bank North America - Branch & Telephone Rates	0.25	0.55	0.55 15-mo	0.75	0.75	1.01
HSBC Online Rates	1.10	1.85	1.85 15-mo	1.60
US Treasury Rate	0.19	0.38	NA	0.93	1.44	2.36

To see the table in full size with the current rates, click the

• Best CD Rate Survey of the Top US Banks

Bankrate.com says the average thirty year fixed rate mortgage is 5.25%:

Product		Rate	Last week
30 yr fixed		5.25%	5.20%
15 yr fixed		4.67%	4.66%
5/1 ARM		4.29%	4.30%

Any idiot off the street should be able to make money running a bank that pays rates this low then lends money out for mortgages at over 5%. (Assuming a return to sane lending practices where banks make loans to people who put up a 20% down payment and have income to repay the loan.)

World Savings used to offer great CD rates in California. World Savings was bought by Wachovia which continued to pay high rates to attract assets. Washington Mutual (WaMu) and Wachovia competed for deposits with each other by offering high rates.

To help save the banking system, the US eliminated some competition so the banks that are "too big to fail" can make money more easily. Wells Fargo, which had low rates all along, bought Wachovia. Likewise, Chase Bank bought WaMu. Now small savers have joined US taxpayers in bailing out the banks!"

One way to get four of the top five banks in a single investment is with the exchange traded fund XLF (XLF charts).

XLF Top Holdings % as of 8/31/09
J.P. Morgan Chase & Co. = 12.28
Bank of America Corporation = 11.01
Wells Fargo Company = 9.28
Goldman Sachs Group Inc. = 6.03
Citigroup Inc. = 4.11
% Assets in Top 5 Holdings = 42.70

Notes:

• Bank of America or BofA (BAC stock quotes and charts) was "Nations Bank" before it bought Bank of America and took the name. BofA also bought Merrill Lynch officially as of January 1, 2009.
  
• JP Morgan Chase (JPM stock quote and charts) bought Washington Mutual, fondly known as "WaMu"
• Citibank (C stock quote and charts) is also known as Citigroup & Citicorp
• Wells Fargo Bank (WFC stock quotes and charts) bought Wachovia Bank- that bought World Savings Bank)
  
• HSBC Bank North America is the American subsidiary of UK-based HSBC Holdings plc. The Hong Kong and Shanghai Banking Corporation, also a subsidiary of HSBC Holdings, acquired a 51% shareholding in Marine Midland Bank of New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA.

==> Best CD Rates with FDIC <==

A survey of large and small banks for best rates by term

Disclaimer: I own C (charts) and XLF (charts) in my personal account. I also cover C and XLF in my investment letter where I trade them around a core position currently in the money for both. I could sell all shares at any time to lock in my profits if my opinion sours on the sector as a whole.