CD Interest Rates June 27, 2011

June 24th, 2011 Brock Hailes Leave a comment Go to comments

Historically low rates on bank CDs continued again this week. Although CD interest rates were little changed by the close of the week, there were no CD terms that displayed an increase in rates and some terms ended with a mild decrease. While CD rates remain quite low, there is a wide discrepancy from the highest CD rates available and the average national CD rates, leaving ample opportunity for informed savers and investors to find measurably higher yields among the top bank CD rates over those of the average bank.

The top CD rates marketed available nationally declined by just a fraction in this week’s CD interest rate survey performed by Selectcdrates.com. The Selectcdrates.com composite index which covers the top ten best three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates fell by .001 percent week over week. The CD rate index ended the week at 1.354 percent.

The average CD interest rate for the top ten three month bank CDs dipped down to 0.633 percent. The best three month CD rate, however, was unaltered on the week. Nexity Bank continues to promote a three month CD with an interest rate at 0.81 percent.

The top six month CD rates slipped down to 0.999 percent by week’s end. The new operators of Nexity Bank, AloStar Bank of Commerce, continues to promote the best six month CD rate as well. The Nexity Bank six month CD rate remained intact at1.12 percent.

The average for the best one year CD rates remained at 1.259 percent on the week. MetLife Bank is the top dog for this term. A MetLife Bank one year CD rate ended Friday with a yield of 1.30 percent.

The average rate on the highest two year CD rates was also stuck in neutral on the week. The ten highest two year CD rates held at 1.481 percent. MetLife Bank continues to hold the top spot for the two year term CD with an interest rate of 1.55 percent.

Five year CD rates declined the most as week came to a close. The average rate for the best five year bank CDs slipped to 2.428 percent last week. There are now three banks offering the best five year CD rates nationally. Dime Direct, Nova Bank and Hudson City Bank have five year CD rates at 2.50 percent.

To search and compare the best CD rates nationally including the best three month CD rates, six month CD rates, one year CD rates, two year CD rates and five year CD rates refer to the following bank CD interest rate tables: 3 month CD rates, 6 month CD rates, 1 year CD rates, 2 year CD rates or 5 year CD rates.

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