Average August CD Rates for Virginia

It’s easy to set aside some money in a savings account and forget about it, but this savings strategy won’t grow your funds to the fullest extent. A certificate of deposit will often provide higher earnings than a traditional savings account, but the key is finding the best CD rates in Virginia before committing a deposit. By knowing what’s presently available in your state, you’ll be able to pinpoint the best offers and make your money work for you.

For example, just knowing what kind of range of interest rates to expect from the financial institutions in your area will give you a better understanding of a “good” rate versus a less competitive one. Take a look at the following averages for CD rates in Virginia across various term lengths and see what you can expect to find in a certificate of deposit near you.

Average CD Interest Rates in Virginia

Virginia 2-Year CDs

There are currently 47 CDs offered in Virginia for a term of 2 years. Of those accounts the highest rate is 2.27% APY, while the very lowest is 0.2% APY. The average 2-year CD rate in the state today is 1.06% APY.

1-Year CDs in Virginia

Out of a total 50 accounts available, the highest Virginia 1-year CD rate is 1.76% APY and the lowest is 0.15% APY. The average rate among these accounts is 0.76% APY.

Virginia 6-Month CDs

Banks and credit unions in and around Virginia currently have 45 certificates of deposit available for a 6-month term. The lowest rate you’ll find today 0.1% APY and the highest is 1.1% APY. The average 6-month CD rate in Virginia today is 0.48% APY.

These rates are as of August 12, 2011. Please note they are subject to change at any time.