Top 12-Month CD Rates Fall To 2.10% APY

A few banks defied the year-long slide in CD rates in October to briefly boost returns on the best 12-month certificates of deposit to 2.25% APY.

But that’s all over.

The top-paying banks are back to offering 2.10% APY, which still beats the dismal 2.05% APY the best 1-year CDs were offering in September.

But not by much.

The downturn reflects what’s happening in the broader market.

Average 12-month CD rates have fallen from a record low 0.98% APY in September to a new record low 0.88% APY now.

Many savers who have investments maturing this month may be shocked. The average 1-year CD paid three times more in November 2008.

The banks offering the best, nationally-available rate of 2.10% APY are:

The Jacksonville Bank, which has five branches in northeast Florida, with a minimum deposit of $1,000.

Umbrella Bank, an online subsidiary of New South Federal Savings of Birmingham, Ala., with a minimum deposit of $1,000.

Frontier Bank, which has more than 50 branches in Washington and Oregon, with a minimum deposit of $50,000 for a “Silver CD.” You can also earn 2.05% APY with a minimum deposit of $500 at Frontier.

See exactly how much you can make at these rates with our new certificate of deposit calculator.