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The average rate for a 1-year CD in the US is 1.79% APY (Annual Percentage Yield). However, the best online banks pay well over 5% APY on a 1-year CD.
The best CD rate on a 1-year CD is 6.00% APY from City Credit Union. If you are looking for additional CD options, there are other financial institutions with high 1-year CD rates, too.
We check rates daily to find the best rates for 1-year terms. Here are our recommendations for the best 1-year CDs.