With the recent downturn in the stock market investors have started to turn towards high interest CDs and money market accounts. Unfortunately interest rates have come down significantly. You are lucky if you can find interest rates over 2% on a one year CD.

I’ve found three high interest one year CD’s that are paying over 2% Interest.

GMAC Bank:
$500 minimum deposit required:
6 months – 2.23%
12 months – 2.81%
3 years – 3.2%

HSBC Direct
6 months – 1.25%
12 months – 2.3%
3 years – 2.35%

CountryWide
$10,000 minimum balance
12 months – 2.25%

GMAC looks to be the clear winner of the three. If you can afford to have your money tied up for three years you can get a 3.2% interest rate. That’s not bad when you consider their low minimums.