Update: 18 month CD rates are currently yielding historically low APY’s. Today’s national average for 12 month CD rates sits at roughly 0.80% APY while today’s average for 24 month CDs sits at just 0.90 APY. The best 18 month CDs from our database of online, FDIC-insured banking institutions sits at 1.10% APY.
We wouldn’t recommend locking in a CD with a longer maturity than 18 months in our current interest rate landscape. The FED has set 2014 as the likely comeback year for savings rates, so locking in a deposit that will allow you to have access to your funds at that time is likely the best decision.
- Offer from Archive -
BankVibe reader Sean just tipped us off on a pretty lucrative 18 month CD rate offered through an Arizona bank called “Gold Canyon Bank.” Currently they have a few different rates associated with their 18 month certificates which vary based on deposit amount. The breakdown of their rates are as follows:
18 month CD with minimum deposit of $10,000 yields 2.38% APY, with a minimum deposit of $50,000 you receive 2.43% APY and with a minimum deposit of $100,000 you receive 2.22% APY.
The tiers in which Gold Canyon Bank has set up are somewhat unique in that they provide varying rates based on deposit, but what makes it even more unique is that they are offering a lower interest rate on the highest deposit (2.22% APY on $100k). This is a bit counter-intuitive and I am not sure what the reason is behind it. If you have any insight, please share by leaving a comment.
Unfortunately, these products are only available to residents in the state of Arizona. Gold Canyon Bank has two branches in AZ, one in Gold Canyon and the other in Peoria. If you live outside of the state you may want to compare CD rates available nationwide to find the best deal. You may also want to search through our archive of 18 month CD’s to find a promotional offer in your state or city.
The national average for 18 month CD’s currently hovers around 1.55% APY.