Best 1 Year CD Rates for May 2015

If you are looking to invest your extra money in certificate of deposits, you may have a hard time finding the best CD rate. In our effort to help you with your search, we have compiled some of the best CD rates offer for this month.

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1. Synchrony Bank. This bank offers 1.23% APY on a 1 year CD with a minimum deposit of $2,000.

2. Colorado Federal Savings Bank. The bank offers a 1 year CD at 1.35%APY, a much higher rate of return. The bank however requires at least $5,000 minimum deposit.

3. Chartway Federal Credit Union. You can only invest a CD here if you are one of the members but they are offering 1.31%APY on a 1 year CD with only $2,500 minimum balance required.

4. Pentagon Federal Credit Union. Much like Chartway, you can only invest here if you are a member. This credit union offers 1.31%APY on a 1 year CD with only $1,000 minimum balance required.

5. Bank Direct, Home Savings Bank and Virtual Bank each requires a $10,000 minimum deposit and offers a rate of 1.21%, 1.20% and 1.16% APY, respectively, on a 1 year CD investment.

6. Sallie Mae offers 1.15%APY with $2,500 minimum balance.

7. California First National Bank – 1.12%APY and $5,000 minimum.

8. Midwest Regional Bank – 1.11%APY with $1,000 minimum balance requirement.

9. AloStar Bank of Commerce offers 1.10%APY with only $1,000 minimum balance required.

10. Silvergate Bank offers 1.08%APY and requires a high minimum balance requirement of $25,000.

 

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