bank rates

Highest CD Rates Roundup For March 28

Bringing you the very best CD rates from credit unions and local banks.Look up “stagnation” in the dictionary, and you’ll find definitions full of colorful words:

— “Ceasing to run or flow.”

— “A foulness or staleness.”

— “The state or quality of being or feeling sluggish and dull.”

When it comes to average CD rates, we’re going through a state of unprecedented stagnation.

That truly is foul, sluggish and dull.


In the last 12 months, the average 60-month CD rate has varied by five one-hundredths of a percentage point – from 0.77% APY to 0.82% APY, according to our weekly survey of banks and thrifts from throughout the country.

That is to say, the average rate has essentially remained unchanged. Has this ever happened before?

Not in recent memory.

We looked back at the last 25 years of average rates (April to April) and measured the difference between the best and worst rates for each year.

Prior to 2013-2014, the smallest gap between the top and bottom rate was about two-tenths of a percentage point. This occurred in 2009-2010, when the top average rate was 2.27% APY and the bottom was 2.06% APY. (The percent change also has never been this small.)

The biggest gap over a year? In 1994-1995, the average 5-year CD rate seesawed by more than two full percentage points, from 6.84% APY to 2.83% APY.

On average, rates fluctuate by about nine-tenths of a percentage point each year.

This is what the bottom feels like.

I guess that’s cause for more celebration when top national and local deals continue to surge.

Highest CD Rates

This week, we added two deals to our list of the highest CD rates from credit unions and local banks:

  • Civic Bank & Trust in Tennessee (www.civicbanktn.com) pays 1.50% APY on 30-month CDs with a $5,000 minimum deposit. This deal is available to all savers.
  • Garden Savings Federal Credit Union in New Jersey (www.gardensavingsfcu.org) pays 2.53% APY on 60-month CDs, 2.02% APY on 48-month CDs and 1.00% APY on 6-month CDs all with a $500 minimum deposit. Savers everywhere can join this credit union by first joining the American Consumer Council.

There are just two changes to note on our existing list.

Melrose Credit Union hiked rates in five terms. Go check out the full story on Melrose’s rate hike.

And the March Madness deal at Countryside Federal Credit Union in New York State has ended. That offer has been removed from our list.

You’ll find the top-paying deals clearly marked on our highest CD rates page, showing where they are available, with a quick link back to the original post, which includes more information on the institution and its requirements.

We’ll update this page weekly, so you’ll always know what great deals are out there from credit unions and local banks.

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