A quick search at a place like Bankaholic will give you the highest CD rates available throughout the country. You can get a CD anywhere, it is not tied to your local area, and by doing so, you might get a higher rate than what is available to you locally. An example would be Tennessee Commerce ank which is offering a $2,500 minimum, 1 Yr CD at 1.69 interest rate. This is rather good, considering that CD rates have fallen with the economic downturn in recent years. If you go for a 5 year CD, you might be able to find returns of around 4%, but you will have to go with an online bank, or at least shop online for deals throughout the US. Unless you are lucky, you will not get the best rate in your local area.