CD rates Blog

Finance Blogs » CD rates » Best and worst cities for CD rates

Best and worst cities for CD rates

By Sheyna Steiner · Bankrate.com
Thursday, July 31, 2014
Posted: 11 am ET

Rates on certificates of deposit are drifting through the summer doldrums. The Bankrate national average CD rates were unmoved all month.

The Bankrate national average one-year CD yield was 0.23 percent in July. The average five-year yield was 0.79 percent. But in some pockets of the country, CD rates are on fire -- relatively speaking.

 

5 best cities for CD rates

Best one-year CD yields in July

July 2 July 9 July 16 July 23 July 30 Average
Atlanta 0.38% 0.46% 0.46% 0.46% 0.46% 0.44%
San Diego 0.38% 0.38% 0.38% 0.38% 0.38% 0.38%
Tampa 0.38% 0.38% 0.38% 0.35% 0.33% 0.36%
Houston 0.37% 0.37% 0.37% 0.37% 0.37% 0.37%
Minneapolis 0.31% 0.31% 0.31% 0.31% 0.31% 0.31%

 

Best five-year CD yields in July

July 2 July 9 July 16 July 23 July 30 Average
Tampa 1.33% 1.33% 1.33% 1.33% 1.33% 1.33%
Baltimore 1.25% 1.25% 1.25% 1.25% 1.25% 1.25%
Cleveland 1.04% 1.04% 1.16% 1.16% 1.16% 1.11%
Denver 1.08% 1.08% 1.08% 1.08% 1.08% 1.08%
Cincinnati 1.07% 1.07% 1.07% 1.07% 1.07% 1.07%

 

5 worst cities for CD rates

Worst one-year CD yields in July

July 2 July 9 July 16 July 23 July 30 Average
Pittsburgh 0.11% 0.11% 0.11% 0.11% 0.11% 0.11%
Milwaukee 0.12% 0.12% 0.12% 0.12% 0.12% 0.12%
San Francisco 0.14% 0.14% 0.14% 0.14% 0.14% 0.14%
Detroit 0.16% 0.16% 0.16% 0.16% 0.16% 0.16%
Cleveland 0.16% 0.16% 0.16% 0.16% 0.16% 0.16%

 

Worst five-year CD yields in July

July 2 July 9 July 16 July 23 July 30 Average
Seattle 0.58% 0.58% 0.58% 0.58% 0.58% 0.58%
Atlanta 0.63% 0.63% 0.63% 0.63% 0.63% 0.63%
San Francisco 0.68% 0.68% 0.68% 0.68% 0.68% 0.68%
St. Louis 0.7% 0.7% 0.7% 0.7% 0.7% 0.7%
Detroit 0.69% 0.69% 0.71% 0.71% 0.71% 0.7%

 

Thinking of buying a CD? Find out if banks in your city enforce punishing early withdrawal penalties first.

What are CD rates like in your city?

Get more Investing News with our free weekly newsletter.

Follow me on Twitter @SheynaSteiner.

***
Senior investing reporter Sheyna Steiner is a co-author of "Future Millionaires' Guidebook," an e-book written by Bankrate editors and reporters. It's available at all the major e-book retailers.

«
»
Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
Add a comment

(Comments may take 5-10 minutes to appear)