Bank of America has a great rate.
Best CD Rate, $10,000 for 1 year?
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The interest rate on a CD can be different in each bank, and they change all the time. Generally, the interest rate is stated at the time you buy the CD, and it doesn't change on that one once you've bought it ... the rate won't be different "after 1 year".
The rate for certificates of deposit depend on the amount of money and how long it is deposited for. 1 year CD's have about 1.3% with a $1,000 minimum, whereas 3 year CD's have 2%, and 5-year CD's have 2.75%.
CD rates will vary anywhere from 1.3% for 1 year CD's up to 2.75% for 5 year CD's. Occasionally you will find a local bank with offers with an added incentive, in order to get your business.
The curent rate of a 12 month cd from Chase bak is .25% with a $1,000 minimum deposit.
Six month CDs average from 1% - 1.5%. One year CDs range between 1.3% to 2%.
To calculate the annual percentage yield (APY) on a certificate of deposit (CD), you can use the formula: APY (1 (interest rate/n))n - 1, where the interest rate is the annual interest rate and n is the number of compounding periods per year.
The highest rates for a 1 year CD with no minimum balance are 1.58% at Ally Bank in Midvale, UT and 1.5% at American Express Bank. For 1 year CDs with a minimum deposit of $1000, the best current rate is 1.59% at Aurora bank in Wilmington, DE. The best rate in the country, currently, is a 1 year CD with a minimum deposit of $2500. It yields a 1.7% APY and is available at Tennessee Commerce Bank in Franklin, TN.
The current highest CD rate for a 1 year CD is through Tennessee Commerce Bank and requires a minimum of $2500. The current APY being offered is 1.7% and are backed by the FDIC.
Ally bank in Utah has the highest 1 year CD rate (the rate is approximately 2.68%). If you want a comprehensive list of banks, you should go to bankrate.com. That website will tell you which banks offer the highest CD rates at a given term. They will also explain the terms of the CD. All banks are FDIC insured.
CD rates depend on the amount of investment and most banks offer CD rates for minimum $1000, then a different rate for $10000 and another for $25000 for both 6 months and 1 year duration. It is infact 5.4%, 5.46% and 5.50% respectively for a period of 6 months. When compared this for an amount of $1000 deposit for a period of 1 year it stands between 5.40% and 5.42% only. So it would be better if you go in for 6 months CD and later reinvest for another term of 6 months rather to invest at a stretch for an year. The CD rate would be 5.46% for a period of 6 months for your investment amount.