Earn up to 1.30% with August's leading 1-year CDs

piggy bank in glasses

You should be earning at least 1% on new 1-year CDs this summer — and perhaps as much as 1.3%.

Let's start with the best nationally available rates.

Fifteen banks are paying 1.00% APY or more on these popular investments, and Synchrony Bank, the former GE Capital Retail Bank, and Colorado Federal are sharing the top deal for savvy savers — 1.10% APY.

That's a little more than the best national returns we found this spring (1.07% APY) and over most of the past year (1.05% APY).

In fact, the top deals haven't hit 1.10% since a few weeks last fall and a brief run in February 2013.

"I know that's pretty thin gruel for return-starved savers," says Mike Sante, Interest.com's managing editor. "But short-term CD rates almost certainly won't go any lower and could start a slow but steady rise later this year."

So far, we haven't seen any increase in the average return on these popular CDs.

That's ranged from 0.22% APY to 0.28% APY over the past year and was a paltry 0.24% APY in our most recent survey of major banks and thrifts.

That's why you really need to consider one of these deals when buying new 1-year CDs this month.

TOP 1-YEAR CD RATES: Nationally Available Bank Deals

Bank APY Minimum Deposit
Synchrony Bank 1.10% $25,000
Colorado Federal 1.10% $5,000
Silvergate Bank 1.08% $2,500
BAC Florida 1.06% $5,000
GE Capital 1.05% $500
CIT Bank 1.05% $25,000
AmTrust Direct 1.05% $500
iGobanking 1.05% $1,000
Nationwide Bank 1.02% $500
CalFirst 1.01% $5,000
Virtual Bank 1.01% $10,000
Discover 1.00% $2,500
Salem Five Direct 1.00% $10,000
Palladian PrivateBank 1.00% $10,000
Ally 1.00% No Minimum

To qualify for this list, a bank must allow savers from all 50 states to buy its certificates of deposit online or through the mail.

Our CD calculator will help you figure out the interest you'll earn, for any term, amount and interest rate.

TOP 1-YEAR CD RATES: About The Banks

Bank Description URL
Synchrony Bank One of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant. www.myoptimizerplus.com
Colorado Federal Savings Bank An online bank based in Greenwood Village, Colorado. www.coloradofederalbank.com
Silvergate Bank Which has four branches in Southern California and is a subsidiary of Silvergate Capital Corp. www.silvergatebank.com
BAC Florida Bank A community bank with one location in Coral Gables that sells its products nationally through My e-BAnC. www.bacflorida.com
GE Capital The other bank owned by GE Capital Corp. gecapitalbank.com
CIT Bank The online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies. www.bankoncit.com
AmTrust Direct An online division of New York Community Bank, which has 240 branches in five states. www.amtrustdirect.com
iGOBanking The online division of Flushing Savings Bank, which has 17 locations in New York. www.igobanking.com
Nationwide Bank An online bank owned by Nationwide Mutual Insurance Co. and its affiliates. www.nationwide.com
California First National Bank An online bank owned by the same company that runs California First Leasing Corp., which finances all sorts of high-tech business equipment. www.calfirst.com
Virtual Bank The online division of Sabadell United Bank, which has 23 branches in Florida and is owned by Banco Sabadell, Spain's fourth-largest bank. www.virtualbank.com
Discover Bank An online bank owned by the credit card company. www.discover.com
Salem Five Direct The online division of Salem 5 Bank, which has 29 branches just north of Boston. www.salemfivedirect.com
Palladian PrivateBank An online division of The PrivateBank and Trust Co., which has 34 branches in nine states. www.palladianprivatebank.com
Ally Bank An online bank based in Charlotte, N.C. www.Ally.com

Of course, it's possible to earn a little more than that if you live near a community bank or credit union offering nearby customers and members a great local deal.

Members of the Gulf Coast Federal Credit Union in Corpus Christi, Texas, can earn 1.30% APY, although that's down from 1.50% earlier in the year.

Two New York City credit unions — Bay Ridge Federal in Brooklyn and LOMTO Federal in Queens — are offering 1.25% APY.

Here are some examples of the best local deals currently being offered. (If you know of a great local deal where you live, please share that info by placing a comment on this story.)

Click here to search Bankrate's database of CD rates to see if you can find a similar deal near you. Or check out the latest local deals on Bankaholic.com.

TOP 1-YEAR CD RATES: Local Deals

Bank/Credit Union (APY) State Contact
Gulf Coast Federal Credit Union 1.30% Texas http://www.ccgcfcu.com/
Bay Ridge Federal Credit Union 1.25% New York https://www.brfcu.org/
LOMTO Federal Credit Union 1.25% New York http://www.lomto.org/
Cintel Financial Federal Credit Union 1.10% Ohio https://www.cintelfcu.org/
GPO Federal Credit Union 1.10% Washington, D.C. http://www.gpofcu.com/
Industrial Credit Union 1.10% Massachusetts http://www.gpofcu.com/

Here's one final option to consider.

Melrose Credit Union (www.melrosecu.org) has a single office in the Briarwood neighborhood of the New York City borough of Queens.

It allows anyone to join, no matter where they live or work, with a $1 membership fee and $25 deposit in a savings account.

Once those formalities are taken care of, members earn some of the best returns in the nation, including 1.15% APY on 1-year CDs with a $5,000 minimum deposit.

Contributing editor Darci Swisher contributed to this report.
Follow Mitch Strohm on Google Plus.