Best 12 month CD rates paying 2.25% APY
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The best 12 month CD’s (certificates of deposit) which are nationally available are currently paying 2.25% APY. However, depending on where you live you may be able to find slightly better interest rates.
The top 12 month CD rates (nationally available) currently goes to ING Direct. Their 12 month CD is paying 2.25% APY ONLY if you fund the account with new money not formerly invested with their bank. If you transfer funds from another ING account you will only receive an interest rate of 2.10% APY.
Behind ING’s offer the next best 1 year CD rate (nationally available) comes from UmbrellaBank.com which is yielding 2.06% APY. You will need a minimum deposit of at least $1,000 to open this account.
Also, Discover bank has a 12 month CD paying 2.0% APY, however they are also tossing in a sign up cash bonus of $25. Therefor depending on your deposit amount this could equal an additional 1.0% APY on your earnings. The minimum balance for opening this account is $2,500.
If you know of a higher 12 month CD, either local or national, please share by leaving a comment.
