The top rate for a certificate of deposit (CD) this week is at Pentagon Federal Credit Union (fondly known as PenFed CU) where you can get a 7-year certificate that currently pays 3.75% APY.
For shorter terms, Sallie Mae Bank has a 1-year CD with a 1.55% annual percentage rate.
With rates so low, banks will try to sell you their annuity products. Make sure you read our article: Beware of Annuities
The table below shows the best CD rates for other terms.
For Larger Text: If that table is hard to read, then try Very Best CD Rates.
Highest CD Rates Survey as of August 3, 2010
|Term ||Highest |
(Click link for Full Rate Sheets)
|Vanguard Daily ||0.12% || Vanguard Prime Money Market Fund |
|Vanguard Tax Exempt ||0.14% ||Vanguard Tax Exempt Money Market Fund|
|FDIC Daily Savings ||1.40% ||Best Savings Account Rate Survey|
|6 Month CD ||1.25% ||Flagstar Bank|
|1 Year CD ||1.55% ||Sallie Mae Bank & 1.50%@ Discover Bank|
|1 Yr US Treasury ||0.25% ||US Treasury Rate Quote |
|18 - Month CD ||1.70% || newDominionDIRECT |
|2 Year CD ||2.00% ||newDominionDIRECT & 1.94% Bank of Internet |
|3 Year CD ||2.40% ||newDominionDIRECT|
|4 Year CD ||2.60% ||newDominionDIRECT|
|5 Year CD ||3.05% ||Astoria Federal Savings Bank|
|5 Yr US Treasury ||1.55% ||US Treasury Rate Quote |
|7 Year CD ||3.75% ||Pentagon Federal CU aka PenFed|
|10 Year CD ||3.50% ||Discover Bank |
|10 Yr US Treasury ||2.91% ||US Treasury Rate Quote |
- Easy to Read Best CD Rate Survey
The one year US Treasury rate is currently 0.28%.