Washington, DC CD Rates Survey for the week January 30, 2012

Written by: Ryan Watson

According to a recent Primerates.com survey conducted on January 30, 2012 of Washington, DC CD rates offered by the area banks & credit unions, Washington, DC’s largest financial institutions offered short-term savers 6 month CD’s with rates between 0.05% at Wells Fargo (www.WellsFargo.com) and 0.30% at Bank of America (www.BankOfAmerica.com).   Most DC area banks are offering relatively similar returns on CD rates, with Wells Fargo’s 3-year CD at 0.90% and Suntrust Bank (www.Suntrust.com) offering the highest 5-year return at 1.29%.  Suntrust has decreased its 4-year CD from 1.29% to 0.85% in the past week, leaving Wells Fargo with the highest 4-year CD at 1.15%.

CD’s are typically insured up to $250,000 by the FDIC.  As CD’s mature, banks typically re-price the rates on deposits.  Make sure that you track when your CD’s mature so that you can roll them over into new CD’s and keep your money working as hard as possible.

 

Banks 6 month 1 year 2 year 3 year 4 year 5 year
Capital One 0.20% 0.20% 0.30% 0.50% 0.70% 1.00%
Wells Fargo 0.05% 0.05% 0.55% 0.90% 1.15% 1.15%
Bank of America 0.30% 0.35% 0.40% 0.60% 0.85% 1.20%
Suntrust Bank 0.25% 0.40% 0.65% 0.85% 0.85% 1.29%
PNC Bank National 0.15% 0.25% 0.45% 0.45% 0.75% 1.05%
Citibank 0.15% 0.25% 0.30% 0.50% 0.75% 1.00%
Manufacturers & Traders Trust 0.20% 0.25% 0.25% 0.40% NA NA
HSBC Bank 0.10% 0.20% 0.35% 0.35% 0.80% 0.80%
Virginia Commerce Bank 0.20% 0.35% 0.50% 0.75% 1.00% 1.24%

 

Rates from banks, thrifts and credit union were posted on their websites on the date indicated for a $10,000 certificates of deposit meeting the specific holding requirement.  Data is believed accurate at time of collection, can change without notice, and will vary.  Contact a specific institution for current rates.


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Washington, DC CD Rates Survey for the week...

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