bank rates

Top 12-Month CD Rates Rebound To 2.25%

With most 12-month CD rates dropping like a stone, who’d have thought the best returns would be higher this month?

But they are.

Two banks offering 2.25% APY lead our October rankings of the top-paying, nationally-available 1-year certificates of deposit.

Even though most 12-month CD rates are dropping like a stone, the best returns are higher than they were in September.That’s up from 2.05% in our September rankings.

That increase comes despite the fact that average return on 12-month CDs fell from 0.96% to 0.92% over the past four weeks.

Just one year ago, the national average was 2.47% APY, or more than the best rates available right now:

2.25% APY with no minimum deposit from ING Direct, the online bank of the Dutch financial giant ING. That’s for an “added value” CD funded with money not currently on deposit with ING.

2.25% APY with a $25,000 minimum deposit from MetLife Bank, the online bank owned by the big insurance company.

2.10% APY with a $10,000 minimum deposit from Amboy Direct, the online division of Amboy Bank, which has 24 offices in central New Jersey.

Click here to compare these deals with the best CD rates from dozens of other banks in our extensive database.

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Comments (7)
1 Star2 Stars3 Stars4 Stars5 Stars (8 votes, average: 4.25 out of 5)
7 Existing Comments
  1. Monica Knott said:
    on October 19th at 01:10 pm

    For how much longer is this special promotion one year CD for 2.25% (25,000) ?
    It is just too hard to reach them over the phone waiting at least 20 minutes and more.

  2. William S said:
    on October 19th at 09:21 pm

    Nice summation of our situation in the 10/20 Washington Post:
    “Uncle Sam’s gift to the prudent saver: Less money” by Allan Sloan

  3. marc said:
    on October 20th at 12:17 am

    dover federal credit union offers 2.55 for a 12 month cd

  4. Annoyed with Metlife said:
    on October 20th at 03:34 am

    Opening a CD with Metlife proved impossible. First their website repeatedly crashed, then their site insisted that we call them to complete the application. We would call, wait to talk to a representative who would transfer us to another phone queue, where we would eventually be disconnected. We finally spoke with a representative who stated that we needed to fax them a copy of our apartment lease, after which she would call us to let us know their decision.

    Although we faxed them the lease, we never heard back. When we called a week later, we were told that the account had been opened but whoever set up the account did not set up the ACH transfer. When my partner asked when, or if, they would do the ACH transfer they did not know, stating there was nothing in the computer. We finally told them never mind.

    About a week later, we received a letter listing the rate as 2.00%. They apparently failed to enable the “special” rate.

  5. G B said:
    on October 20th at 05:57 am

    Thanks for Washington Post article, William S.
    Have 170000 to invest for 12months or so – taken out of Wachovia/WellsFargo, who offer 1% APY

    High paying jumbo CDs?

  6. Monica Knott said:
    on October 22nd at 10:57 am

    Metlife did the same to me. I had signed up for the special 2.25% for one year
    When I received a statement they gave me 2.00%. I called and got really after them. they said they would correct it. They dont know what they are doing. Get a name and extension number from a person and call only her.

  7. Nate said:
    on October 27th at 08:57 pm

    Ing is down to 1.75% for a 1 year CD 🙁