Where to find the best 12-month CDs

A 12-month CD is perfect for anyone who wants to make a few bucks on their investment but doesn’t want to tie up their money for too long.

But you’ve got to find a deal that’s paying more than the national average of 1.29% for these certificates of deposit.

Here are the best 12-month CDs available nationwide:

2.80% APY with a $500 minimum deposit from GMAC Bank, an online bank run by the auto financing company.

2.76% APY with a $10,000 minimum deposit from Corus Bank in Chicago.

2.65% APY with an $8,0000 minimum deposit from UBF Direct Banking Center, based in LaJolla, Calif., which provides CDs through Waterfield Bank.

You can also find good deals at community banks that only accept deposits from local customers. Credit unions often offer their members top interest rates, as well.

Here are some examples:

Melrose Credit Union, in Briarwood, N.Y., is paying 3.03% APY with a minimum deposit of $5,000.

City Bank, with eight branches in and around Lynwood, Wash., is paying a 2.53% APY with a $500 minimum. The best feature of this certificate is that it has add-on and step-up provisions.

Tennessee Commerce Bank in Franklin is offering 2.55% on a 12-month CD. If you go for an extra six months, you’ll earn 2.75% on its 18-month CD –- the best rate we’ve seen for that term.