The top nationally available return on 1-year certificates of deposit is currently 1.46% APY, higher than you could have earned at this time last year.
Better yet, you can earn up to 2.00% APY from credit unions and community banks (and for one lucky group of savers, an astonishing 5%), and we’ll tell you where to find those local deals.
The top national yields
In early 2014, the leading 1-year rate on our CD Rates Leaderboard of nationally available bank certificates was still at its post-recession low of 1.05% APY.
Since then, the top rate has moved upward in a faltering pattern, but we’re finally starting to see some steady gains.
You can take home 1.46% APY from State Bank of India in Chicago. That’s with a minimum deposit of $2,500. At State Bank of India in New York, you can earn 1.41% APY on a 1-year CD.
In addition to those two banks, 11 other banks are offering up to 1.40% APY.
Of course, new offers can be unveiled at any time, so to get the latest read of the top CD rates, search Bankrate’s daily database.
Top National 1-Year CD Rates
|State Bank of India – Chicago||1.46%||$2,500|
|State Bank of India – New York||1.41%||$5,000|
|Live Oak Bank||1.40%||$2,500|
|Sallie Mae Bank||1.40%||$2,500|
|BAC Florida Bank||1.40%||$1,500|
|Colorado Federal Savings Bank||1.35%||$5,000|
|Capital One 360||1.30%||$1,000|
|Ally Bank||1.30%||$No minimum|
How to earn more with local deals
We track more than nationally available returns here.
That’s because the very best CD rates often come from community banks and credit unions that only accept savers who live or work nearby or are willing to jump through a hoop to become a member.
In the 12-month term, we’re aware of the six local offers below that outearn the leading nationally available 1.46% APY.
Top Local 1-Year CDs
|Leaders Credit Union||Tennessee||5.00%||$500|
|Financial Health Federal Credit Union||Indiana||2.00%||$500|
|Peoples Transport Federal Credit Union||New Jersey||1.94%||$500|
|North Platte Union Pacific Employees Credit Union||Nebraska||1.51%||$10,000|
|F&A Federal Credit Union||California||1.46%||$1,000|