A number of bank certificate of deposits currently available have yields that are well above the national average rate.  But, bank CDs that are ten times the national average rate are fewer and finding these hidden financial gems takes a little bit work.

Leaders among the bank CD rates that are ten times or above the national average rate are heavily concentrated on the short end of the yield curve, accounts with maturities that are six months or less.  With higher interest rates and exposure to short time commitments, even those hesitant to lock down their savings can benefit from short term certificate of deposit accounts.

The national average CD account rate on six month CDs is 0.15% APY and the average rate for three month CDs is just 0.10% APY, as of August 7, 2017.

All of the bank CD accounts listed have interest rates that are at least ten times the average rates.  Many of those certificates have low or relatively low minimum deposit requirements, making it even easier to open one of these accounts.

Crestmark Bank is current leader among bank rates on the short end of the yield curve.  Crestmark offers the best six month CD rate at 1.50%.  This impressive yield does require a larger than average opening deposit at $100,000.00 but the rate of return stands at ten times the national average rate for one year certificates.  Savers that want to fork over a smaller deposit amount can earn a six month CD rate of 1.25% with a minimum deposit of $25,000.00.

Going to a shorter term, the market leader is First Internet Bank with a three month CD rate of 1.21%.  Crestmark Bank offers a three month CD with a yield of 1.10%.  The bank also offers a one month CD with an interest rate of 0.75%, well above the national average rate for this term of 0.06%.

Luana Savings Bank out of Iowa has three month account that is at or more than ten times the average rate depending on the amount of the deposit.  For the minimum $1,000.00 deposit, the bank promotes a three month CD rate of 1.00%.  The rate climbs by 0.05% for deposits that are $25,000.00 above and continues up to 1.15% for amounts of $100,000.00 or greater.

Bank interest rates may change fortunately, the recent trend has been to the upside.  The banks covered in this article market their certificate of deposit products in all 50 states.  A number of other CD options with rates that trounce the national averages are available in specific geographic regions by community banks and local banks.

Additional information can be found by contacting the banks directly or reviewing the current list of the best CD rates by state at SelectCDrates.com.

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