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How much interest you earn on your 360 CD account will depend on how much you deposit, your specific term and interest rate. Check out current Capital One 360 CD rates and terms to see how much you can earn. You can use a CD rate calculator to see how much you will earn at the end of your term. If you’re just looking for a higher payout, however, CDs might be the way to go. Treasury bond rates have fallen since the financial crisis, falling to a paltry 0.5% in 2013. As of October 2019, the bond yield for a 5-year investment is at 1.34%, while the best nationally available 5-year CD rate is 3.00% APY. There is a penalty for withdrawing principal prior to the maturity date. For Personal CDs: If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD.
A certificate of deposit (CD) is a time deposit account. A bank agrees to pay interest at a certain rate if savers deposit their cash for a set term, or period of time.
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Find current CD rates and recent interest rate trends from Bankrate below. Here are the current average rates for the week of March 3:
- 1-year CD rates: 0.19%
- 5-year CD rates: 0.32%
- 1-year jumbo CD rates: 0.21%
- 5-year jumbo CD rates: 0.33%
- Money market account rates: 0.08%
Since the Federal Reserve lowered the fed funds ratetwice last March, CD and money market account (MMA) rates have been declining at many banks. Declining Treasurys may also cause CD rates to decrease.
Latest CD rates: 3-month trend
| Date | 1-year CD | 5-year CD | 1-year jumbo | 5-year jumbo | Money market account |
|---|---|---|---|---|---|
| 03/03/2021 | 0.19% | 0.32% | 0.21% | 0.33% | 0.08% |
| 02/24/2021 | 0.20% | 0.33% | 0.21% | 0.34% | 0.08% |
| 02/17/2021 | 0.19% | 0.33% | 0.21% | 0.34% | 0.08% |
| 02/10/2021 | 0.19% | 0.33% | 0.22% | 0.34% | 0.08% |
| 02/03/2021 | 0.20% | 0.34% | 0.22% | 0.35% | 0.08% |
| 01/27/2021 | 0.20% | 0.35% | 0.23% | 0.36% | 0.08% |
| 01/20/2021 | 0.21% | 0.35% | 0.23% | 0.36% | 0.09% |
| 01/13/2021 | 0.21% | 0.36% | 0.23% | 0.37% | 0.09% |
| 01/06/2021 | 0.21% | 0.36% | 0.23% | 0.37% | 0.09% |
| 12/30/2020 | 0.22% | 0.37% | 0.24% | 0.38% | 0.09% |
| 12/23/2020 | 0.22% | 0.38% | 0.24% | 0.39% | 0.09% |
| 12/16/2020 | 0.23% | 0.39% | 0.25% | 0.40% | 0.09% |
| 12/9/2020 | 0.24% | 0.40% | 0.26% | 0.41% | 0.10% |
| 12/2/2020 | 0.24% | 0.40% | 0.26% | 0.41% | 0.10% |
| 11/25/2020 | 0.24% | 0.41% | 0.26% | 0.42% | 0.10% |
No need to stick to low rates: Below are some of the best CD rates from popular banks by term
Compare current CD rates by term for March 2021
Current CD rates: 6-month
- Quontic Bank: 0.60% APY
- Limelight Bank: 0.50% APY
- First Internet Bank: 0.45% APY
- Bethpage Federal Credit Union: 0.40% APY
- EmigrantDirect: 0.35% APY
Current CD rates: 1-year
- Quontic Bank: 0.65% APY
- Live Oak Bank: 0.65% APY
- Ally Bank: 0.60% APY
- BrioDirect: 0.60% APY
- Synchrony Bank: 0.55% APY
Current CD rates: 3-year
- Delta Community Credit Union: 1.05% APY
- Comenity Direct: 0.85% APY
- Salem Five Direct: 0.75% APY
- Navy Federal Credit Union: 0.70% APY
- TIAA Bank: 0.70% APY
Current CD rates: 5-year
- Delta Community Credit Union: 1.25% APY
- SchoolsFirst Federal Credit Union: 1.01% APY
- VyStar Credit Union: 1.00% APY
- Suncoast Credit Union: 0.95% APY
- Ally Bank: 0.85% APY
Note: The APYs (Annual Percentage Yields) shown are as of March 4, 2021.The APYs for some products may vary by region.
Current CD rates FAQs
What are today’s CD rates?
According to Bankrate’s most recent national survey of banks and thrifts, the average rate for a 1-year CD is 0.19 percent. The average rate for a 5-year CD is 0.32 percent. The average rate for a 1-year jumbo CD is 0.21 percent. The average 5-year jumbo CD rate is 0.33 percent.
The Federal Reserve and CD rates
When the Federal Reserve makes interest rate decisions, the rates that banks offer on CDs can change.
The Fed can choose to raise or lower the federal funds rate. Once the central bank makes a decision to change the rate, banks will generally move CD yields in the same direction. Broader macroeconomic conditions also influence CD rates.
CD rates typically follow the direction of the Federal Reserve closely. For example, in 2020, the Fed made two emergency cuts and CD rates have been declining at some banks to protect their profits.
How are CD interest rates determined?
CD rates are determined by several factors. The decisions made by the Federal Reserve on the federal funds rate will influence CD rates.
Competition among banks and credit unions will also influence the payout out on their CDs as well as whether the financial institution needs deposits or not. In general, online banks tend to pay higher rates than banks with branches.
Changes in Treasury yields and economic conditions also influence CD rates.
Current Cd Interest Rates At Credit Unions
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