bank rates

The Top 1-Year CD Rate Now Pays 1.26%


Since the Federal Reserve hiked rates before Christmas, we’ve certainly seen a mixed bag of results across the major CD terms.

On our CD Rates Leaderboard of the top nationally available bank returns, some leads have moved up, then down; others down, then up – and one has moved only down (we’re looking at you, 60 months).

This week unfortunately puts another term underwater relative to what savers could earn in early December, with the leading 1-year CD rate dropping from 1.30% to 1.26% APY.

Before the Fed hiked rates six months ago, 1.30% APY was the top-billed return. But in January and then again in March, the lead had been booted as high as 1.36% APY.

Country Bank gave that lead up 10 days ago, ceding it to Colorado Federal Savings Bank, which in turn dropped its rate yesterday.

That leaves us with a trickle-down national lead now shared by four banks, all paying 1.26% APY:

The edge held by these banks is ever so slight, however. Directly below them on our Leaderboard are no less than seven banks paying 1.25% APY.

With the new top 1-year CD rate being the worst we’ve seen in over 10 months, let’s hope somebody decides to rise above the crowd.

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