Virginia CD rates have continued to move in unison with national CD rates through mid June of this year.  While the CD rates offered in VA are rising and falling similar to comparable terms outside of Virginia and across the nation, the best CD rates in VA remain well above the national average rates.

The average rate for the top five best six month bank CDs in Virginia is 0.502%.  The best six month CD rates in Virginia are four times the national average rate.  Based on the data published by the FDIC for June 16, 2014 the average national CD rate for a six month certificate is 0.12%. 

The best one year CDs in VA have an average rate of 0.894%.  The national average rate for one year certificates is roughly one fourth of that figure or 0.20%. 

The top five bank CDs in VA with a two year maturity have an average rate of 1.020%.  Based on the FDIC data, the national average rate for two year time deposit is 0.33%. 

Five year CDs in VA have not been holding up as well as the shorter term maturities with the average rate from these long term certificates coming in at 1.772%.  The national average rate for five year CDs is more than one percent lower at 0.76%.

The top six month CD rate in VA is now at 0.60%, based on the most recent survey of bank CD rates in Virginia conducted by on June 16, 2014.  BBCN Bank offers the best six month certificate in the state with a yield at 0.60%.  The BBCN CD is a measurable, ten basis points or 0.10% higher than the next best rate on a six month term certificate which is available at three banks in the state.  The Woori America Bank six month CD rate, Presidential Bank’s six month CD rates, and the six month term CD at Carter Bank & Trust all have rates at 0.50% including.

The best one year CD rate in Virginia is currently at 1.01%.  The top one year rate can be found at two banks operating in the Old Dominion state, Freedom Bank of Virginia and Beal Bank.  Bank of Hampton Roads has the second highest rate in the state with a yield of 0.90%.

The highest two year CD rate promoted by a Virginia based bank is at 1.10%.  Bank of Hampton Roads offers the top two year CD with this rate.  The second best rate on a two year certificate is marketed by Freedom Bank of Virginia with a rate of 1.05%.

At 1.91%, the best five year CD rate comes from Franklin Federal Savings & Loan.  Six basis points behind the top rate at Franklin Federal is the Bank of Hampton Roads CD which has a yield of 1.85%.  TD Bank CDs in VA and Bank @Lantec CDs with 60 month terms have the third best rates at 1.75%.

Additional resources to help consumers find the best CD rates in the region are available at under the bank rate table titled Virginia CD rates.

All rates are current as of June 16, 2014 and are subject to change at any time.  The CD interest rates and annual percentage yields earned on the account are determined by the date the account is opened and the term selected.  Other restrictions and limitations apply.  All information provided through this site is intended to be accurate, but the information is not guaranteed.  Contact the individual banks directly for the most up to date and accurate bank rates and account terms and conditions.

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