What Are Virginia Beach CD Rates Paying You?
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Virginia Beach Banking Rates recently conducted a study to find out how interest rates for various CD term lengths in Virginia Beach, VA measure up against the rest of the country. Luckily for residents, the average Virginia Beach CD rate is higher than that of the national average.
It’s important to note, however, that when broken down by term, only 24-month CD interest rates in Virginia Beach beat out the average for accounts across the U.S.; both 6- and 12-month CD rate averages fall short. There is good news, though. As demonstrated in the infographic above, depositing your money in a 24-month CD significantly increases your earnings thanks to compound interest. Therefore, anyone wishing to open a CD account in Virginia Beach can earn a higher rate and larger balance by choosing a 2 year term.
Virginia Beach Banking Rates compiled the information used in this infographic from the local banks and credit unions within a 50-mile radius of the city. Interest rates from these financial institutions were then averaged and compared against all of the rates data in the Virginia Beach Banking Rates database for banks and credit unions throughout the country.
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