One year CD rates continue to show modest improvement going into the middle of July.  Based on the most recent survey of bank CD rates performed by conducted on July 11, 2014 the average rate on the top performing bank CDs increased by just over one basis point from the survey in mid June.  The average rate on the top ten highest one year term bank CDs moved up to 1.062% from 1.052% in the previous survey. 

While the rates offered on bank CDs is not wowing savers and investors, the rates offered are becoming more attractive relative to similar safe and secure investment options.  Not only is the rate on the top performing bank CDs well above the rates found on comparable term Treasury securities, but the rate increases on bank CDs took place while Treasury rates have remained stuck in the mud.  The average one year Treasury rate on July 11, 2014 was 0.11%.  On June 11, the rate on the one year Treasury was also at 0.11%.  The average rate on the best one year CDs is now almost ten times the rate offered on a one year Treasury bill.

The current top performing one year CD rates includes the certificates offered by Synchrony Bank, EverBank, Silvergate Bank, Virtual Bank, and BAC Florida Bank.  Most of these banks have been leaders in this category throughout 2014.  The current highest one year CD rate is at 1.10% and can be obtained at Synchrony Bank and EverBank.

Following these two banks, the next best one year CD rate is lower by two basis points and can be opened at Silvergate Bank.  Silvergate Bank offers a one year CD with a yield of 1.08%.  The third highest one year bank CD rate is just one more basis point behind and comes from Virtual Bank at a yield of 1.07%.

The list of top five one year CD rates also includes the BAC Florida Bank CD rate at 1.06% and the one year CDs available through GE Capital Bank, CIT Bank and AmtrustDirect CD which all have interest rates of 1.05% on the one year term CD account.

Additional information on the top bank CD rates with a one year maturity can be found at one year CD rates.  Note, the bank and bank CD rate information may have changed since this publication date.  Check with the bank directly for the most up to date and accurate information.  All banks listed are FDIC insured institutions.

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