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Paris for lovers, San Diego for CDs

By Sheyna Steiner · Bankrate.com
Wednesday, April 16, 2014
Posted: 4 pm ET

Some places are better than others for savers, particularly when it comes to rates on certificates of deposit. A mix of economic variables leads banks in some areas to hike CD rates well above the average.

According to Bankrate's national index, the average one-year CD yield in the first quarter of the year was 0.23 percent. The average five-year yield was 0.8 percent.

Cities with the highest one-year CD rates in the first quarter

City One-year yield
San Diego 0.4 percent
Houston 0.37 percent
Cincinnati 0.3 percent
Dallas 0.28 percent
Kansas City, MO 0.27 percent

Cities with the highest five-year CD rates in the first quarter

City Five-year yield
Baltimore 1.25 percent
Tampa, FL 1.13 percent
Cincinnati 1.07 percent
Houston 1.05 percent
Phoenix 0.99 percent

Source: Bankrate.com

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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.

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