The best one year CD rates starting in the month of June 2014 have made a rather large step up compared to the rates offered in the prior month.  During a period of mostly lower interest rates, the highest one year CD rates available nationally have advanced by 2.5 basis points month over month.  The average one year CD rate is 2.5 basis points higher in the month of June compared to May.  The average rate at the top ten best one year CDs for the current bank CD rate survey conducted during the first week of June is now at 1.06%, from 1.035% in the first week of May.

The highest one year CD rate is currently at 1.10% and is available at three separate banks.  Synchrony Bank, GE Capital Bank, and EverBank all offer one year term certificates that yield 1.10%. 

GE Capital Bank has a minimum $500.00 deposit requirement to open an account and earn the advertised CD rate.  The required minimum opening deposit at EverBank is $1,500.00.  Synchrony Bank has minimum deposit of $25,000.00 that is needed to earn the 1.10% rate.

Synchrony Bank is the renamed, GE Capital Retail Bank.  GE Capital Bank, not to be confused with the old GE Capital Retail Bank, and Synchrony Bank are independently insured FDIC insured institutions but, both are currently indirect subsidiaries of General Electric Company.  Yeah.

The top five highest one year CD rates for the survey conducted on June 6th, 2014 have the three banks listed above as the top rates as well as the following two banks:

VirtualBank has a one year CD rate at 1.07% and a minimum required deposit of $10,000.00.  VirtualBank is the online banking division of Sabadell United Bank.

BAC Florida is the fifth bank on the list, the third highest rate, with a one year CD rate of 1.06%.  The minimum deposit at BAC is $500.00.

The bank and bank CD rate information may have changed since this publication date.  Check with the banks listed directly for the most up to date and accurate information.

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