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Where to go for higher CD rates

By Sheyna Steiner ·
Thursday, February 14, 2013
Posted: 11 am ET

Rates on certificates of deposit are different all over the country. The highest rates are typically found in areas with greater economic activity and higher loan demand. These days, Texas residents, particularly those in the Dallas and Houston areas, have access to the highest CD rates in the country, at least according to Bankrate's research.

Last month would have been a great time to look into five-year CD rates in the Lone Star State -- the highest yield available was 2 percent at BBVA Compass in Dallas and Houston. Really, 2 percent! It's a sad state of affairs when a 2 percent yield for five years seems like an amazing deal, but that's where we are.

Here are the top cities for five-year and one-year CD rates in the first week of February.

Top cities for five-year CD

City Bank Rate Yield
Houston Integrity Bank, SSB 1.88 percent 1.9 percent
Philadelphia Prudential Savings Bank 1.85 percent 1.85 percent
Cincinnati Guardian Savings BankUnion Savings Bank 1.82 percent1.83 percent 1.85 percent1.85 percent
Phoenix AmTrust Bank 1.74 percent 1.75 percent
Miami AmTrust Bank 1.74 percent 1.75 percent

Top cities for one-year CD

City Bank Rate Yield
Dallas NexBank, SSB 1.05 percent 1.05 percent
San DiegoLos Angeles OneWest Bank, FSBOneWest Bank, FSB 1 percent1 percent 1 percent1 percent
Houston Beal Bank, SSB 0.91 percent 0.91 percent
DC Metro Presidential Bank, FSB 0.9 percent 0.9 percent
Atlanta Bank of Atlanta 0.85 percent 0.85 percent

The national average for one-year and five-year CD rates according to Bankrate's National Index was 0.27 percent for a one-year CD and 0.86 percent for five years.

What are CD rates like where you live?

Follow me on Twitter: @SheynaSteiner.

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1 Comment
March 10, 2013 at 5:35 pm

The Obama economy is to blame for ALL our financial woes, and there are many. Jimmy Carter used to be the worst president ever, but he is now number 2, the smooth talking Obama has taken over first place.