The interest rates paid on the best six month CDs available nationally were unmoved for the week ending June 11, 2010 based on the survey of bank rates performed by Selectcdrates.com. The average rate for the top ten highest national CD rates with a six month term remained at 1.19% week over week.
The highest six month CD rate also held steady for the week. The best six month CD rate continues to be offered at 1.25% and can be found at two banks, Flagstar Bank and Aurora Bank. Shore Bank offers a six month CD that sits just one basis point lower. The Shore Bank CD with a six month terms comes in 1.24%, unaltered from the prior week.
Two banks continue to offer the third highest nation CD rate on the six month maturity CDs. Both, NOVA Bank in Pennsylvania and Excel National Bank, market six month CDs that yield 1.20%.
Ascencia CD follows with a six month certificate that earns a rate of 1.17%. The Goldwater Bank CD is one basis point lower at 1.16%.
Three banks complete the list of the top ten best six month CD rates. All three remaining banks promote six month term CDs with the same yield. The Amtrust Direct CD, Discover Bank CD and Colorado Federal Savings Bank CD all have interest rates at 1.15%.
Although the average rate was unchanged, there was one bank rate change within the list from the prior week. NewDominion Bank CD was removed from the list due to a reduction in the interest rate paid on the account and was replaced by Ascencia. The rate increase by Ascencia from the previous week exactly matched the previous rate offered by NewDominion which left all the rates intact week to week.
For more bank rates from Discover Bank see Discover CD.
CD rates for the best short term, six month term CDs, were little changed for the week ending June 4, 2010. Six month bank CD interest rates changed by the less than 1/100 of a percent for the week based on the survey of the highest national CD rates performed by Selectcdrates.com.
The average rate for the top ten best six month CD rates held at 1.19% by the close of the week, the same average yield found in the previous week. The top six month rates were down slightly but the yield change was so small as to not impact the average interest rate displayed.
The highest six month CD rate available nationally was down by one basis point or 1/100 of a percent on the week. The best six month CD rate is now at 1.25% and is available from two banks, Flagstar Bank and Aurora Bank.
The second best six month bank rate is lower by one basis point. The next best six month rate comes from Shore Bank with an interest rate of 1.24%. The third highest six month CD rate falls four basis points back and can be found at two banks. NOVA Bank and Excel National Bank hold the third position with CDs that earn a rate of 1.20%.
NewDominion Bank follows the duet by NOVA and Excel. The NewDominion Bank CD with a six month terms has an interest rate of 1.17%. Just one basis point beneath this offer is the six month certificate from Goldwater Bank with a CD rate of 1.16%.
Three banks remain on the list of the top ten highest six month CD rates. All three remaining banks promote identical yields. Amtrust Direct, Discover Bank and Colorado Federal Savings Bank CD have interest rates set at 1.15%.
Three banks from the previous week’s list altered their rate offers in the most current survey. The Aurora Bank CD was lower by one basis point as was Shore Bank’s CD and the Ally Bank CD. Ally Bank’s CD reduction minor rate reduction unfortunately pushed the bank off the list of the top ten highest six month CD rates and was replaced by Colorado Federal Savings Bank.
Six month CD rates pulled out of the current downward slump and managed to produce a small gain in yield for the week ending May 21, 2010. The average rate of the top ten best six month CD rates surveyed by Selectcdrates.com closed the week with a gain, albeit a very modest one, of one basis point or 1/100 of a percent. The average yield on the best 6 month national CD rates now stands at 1.22%, up from last week’s average six month CD interest rate of 1.21%.
The highest six month CD rate was unchanged. The best six month CD rate continues to be the Aurora Bank CD which has an interest rate of 1.27%. Shore Bank, based in Chicago Illinois, remains as the second best certificate of deposit with a rate of 1.26%. The third highest six month bank rate is shared by two financial institutions. The Discover Bank CD and Flagstar Bank CD both have six month term yields at 1.25%.
Nexity Bank has a six month CD with a rate that is four basis points lower than the preceding bank rate. The Nexity Bank CD rate is at 1.21%, unchanged from the prior week. Three bank CDs follow this rate offering with identical annual percentage yields. The six month NOVA Bank CD, One West Bank CD and Excel National Bank CD all share rates set at 1.20%.
Ally Bank runs just one basis point lower with six month certificate that earns a rate of 1.19%. The remaining bank on the list of the top ten highest six month CD rates available nationally is NewDominion Bank with a CD interest rate of 1.17%.
The top six month CD rates were predominantly unchanged week over week. The top three six month bank rates were unaltered. State Bank of India reduced their CD rates form the prior week and failed to return due to the lower yield. Goldwater Bank has also fallen from the list due to higher yields at competing banks, the Goldwater Bank CD rate on six month certificate continues to hold at 1.16% but did not makes this week cut off rate of 1.17%.
NOVA Bank was added this week along with Flagstar Bank. Flagstar Bank dramatically increased the rate on their six month CD to move up to the third highest six month CD rate available nationally.
The best six month CD interest rates available nationally stumbled slightly for the week ending May 14, 2010 according to the bank CD rate survey performed by Selectcdrates.com. The average of the top ten best six month CD rates moved lower by one basis point or 1/100 of a percent on the week. The average yield closed the week at 1.21%, off from last week’s close of 1.22%.
The best six month CD rate was unchanged with a rate of 1.27%. This CD rate continues to be available online from Aurora Bank. The financially troubled, Shore Bank, follows closely with a six month CD that is just one basis point lower at 1.26%. And Discover CD is just one more basis point beneath that offer with a six month certificate at 1.25%.
The fourth best national CD rate with a six month term falls four basis points behind the Discover CD. Two banks are offering identical six month CD yields to hold this spot. Nexity Bank and State Bank of India market six month CDs that earn an interest rate of 1.21%.
Two more banks follow that duet with six month certificates yielding one basis point less. One West Bank and Excel Bank have six month CDs at 1.20%, the fifth highest national CD rate with a six month maturity.
Ally Bank with its “new-er” ad campaign runs behind the One West – Excel Bank tandem offer with a six month certificate of deposit at 1.19%. The reaming two banks on the list of the top ten best six month CDs includes NewDominion Bank and Goldwater Bank. Goldwater Bank offers a six month bank rate of 1.16% while NewDominion Bank is slightly higher at 1.17% on their six month term deposit.
There was very little changed on the six month CDs from the previous week. The most noteworthy bank rate movement was Nexity Bank which reduced their six month certificate from 1.26% in the past week to 1.21% this week. FirstFed Direct and La Jolla Bank did not return on the list as One West Bank has now fully integrated those financial institutions under their One West Bank brand name. Replacing those two banks was two banks with the lowest rates this week, NewDominion Bank and Goldwater Bank.
Six month bank CD rates were lower by two basis points or 2/100 of a percent for the week ending May 7, 2010 based on the most recent survey of bank CD interest rates performed by Selectcdrates.com. The six month CD maturities absorbed the largest drop for the week with the other bank rate terms surveyed falling by a lesser figure or increasing slightly for the week. The average rate for the top ten highest six month certificates of deposit available nationally settled at 1.22% by the close of the week, down from 1.24% in the prior week.
The highest six month CD rate available nationally was lower as well, albeit by a smaller sum than the top ten average rates. The highest six month CD rate available nationally moved form 1.28% last week to 1.27% for the most recent reporting period. The best six month CD rate continued to be the product of Aurora Bank week over week.
Following the term leader, two banks offer six month CDs just one basis point lower. Both, Nexity Bank and Shore Bank, promote six month term deposits with interest rates at 1.26%. Another one basis point drop down is the bank CD from Discover that has an interest rate of 1.25%.
State Bank of India offers the fourth best rate with their six month bank CD rate of 1.21%. Four banks tie for the fifth highest rate at 1.20%. Excel national Bank along with One West Bank and its other two bank properties, La Jolla Bank and First Fed Direct promote six month CDs that earn a rate of 1.20%. The last bank on the list is Ally Bank which offers a six month CD that yields 1.19%.
Week to week, five banks altered their CD rates. All five banks altered the CD rates to the downside. Aurora Bank, Nexity Bank and Shore Bank reduced their rates by just one basis point while State Bank of India dropped their CD rates by five basis points and AmtrustDirect which is owned by New York Community Banks, let their CD rate slump by ten basis points which missed the cutoff for this week’s top ten best bank rates with a six month term. Ally Bank replaced AmtrustDirect for this week’s survey results.
The average rate on six month bank CDs was unchanged for the week ending April 23, 2010 based on the SelectCDrates.com most recent survey of bank rates. This week, the average six month CD yield from the top ten best six month bank CDs available nationally held firm at 1.24%.
The best six month CD rate was also untouched on the week. The highest six month CD rate continues to come from Aurora Bank with an interest rate of 1.28%. The second highest six month rate available nationally falls just one basis point or 1/100 of a percent behind the highest rate and can be found at two banks. Both Shore Bank and Nexity Bank offer six month CDs that earn a rate of 1.28%. Shore Bank has 15 bank branches in three states and also accepts CD accounts online. Nexity Bank is based in Alabama and provides the majority of its services as an online bank though deposits are also accepted at the banks one location in Birmingham.
Another one basis point below the second highest rate is the CD of State Bank of India. State Bank of India offers a six month certificate that has a yield of 1.26%. State Bank of India is a U.S branch of a foreign institution and the deposits have the full protection provided by FDIC coverage. State Bank of India has two bank branches, one in Illinois and one in New York and offers the bank CD accounts nationwide.
The next best national CD rate is an additional one basis point lower and is available at another two banks. Both, AmTrustDirect and Discover Bank, market their six month term deposits at 1.25% or the fourth highest bank rates in this term. The final four banks on the list of the top ten best six month CDs all offer the same yield. These four banks, One West Bank, Excel National Bank, FirstFedDirect and La Jolla Bank have six month CD interest rates at 1.20% to conclude the list.
We apologize for some duplication in our data. One West Bank, La Jolla Bank and FirstFedDirect are all now under the ownership of One West Bank. Until recently, the rates offered by these institutions were similar but not identical. At this time, the short term interest rates of all three banks are equivalent.
While the average rate was unchanged, week over week changes from the previous week’s list of the top ten bank rates with a six month term actually involved four banks. Excel Bank reduced their rates on the week, Ally Bank also reduced their rates and NewDominion Bank as well Goldwater Bank failed to make this week’s cut off point even though the bank maintained the rates offered from the previous week. The three new banks on the list are the One West Bank group of One West Bank, FirstFedDirect and La Jolla Bank.
Six month CD rates were down on average for the week ending April 16, 2010. The average of the top ten best six month CD rates available nationally were lower by three basis points driving the average yield down to 1.24% from 1.27% in the previous week according to the survey of bank CD rates performed by SelectCDrates.com.
The top ten best six month CD rates available nationally ranged in yield from 1.28% for the highest rate down to 1.16% on the bottom of the list. The highest six month certificate comes from Aurora Bank with an interest rate of 1.28%. The top rate is down from last week’ best six month rate which was yielding 1.31%.
The second highest six month bank rate is at 1.27% and is available at two banks, Nexity Bank and Shore Bank. Last week’s term leader, State Bank of India, is now offering the third highest six month CD rate at 1.26%.
Three banks follow the top trio with certificate of deposit rates at 1.25%. AmtrustDirect, Discover Bank and Excel National Bank promote six month term CDs that have interest rates at 1.25%. Ally Bank runs five basis points of 5/100 of a percent behind these banks with a CD rate at 1.20%.
NewDominion Bank falls into ninth position with a six month CD interest rate of 1.17%. And the final bank on the list, Goldwater Bank, tracks this rate by just one basis point with a certificate that earns an interest rate of 1.16%.
Of the ten banks that were the top ten performers on last week’s list, seven banks made interest rate changes to their six month CDs. All of the rate changes were downward revisions. State Bank of India, The Palladian Private Bank, Aurora Bank, Bank of Internet, Nexity Bank, Shore Bank and Presidential Online Bank reduced their CD interest rates week over week.
Three banks, The Palladian Private Bank, Bank of Internet and Presidential Online Bank, failed to make this week’s interest rate cut off point due to the extent of their rate depreciation. These banks were replaced by the six month CD rate products of Goldwater Bank of Arizona, Ally Bank which apparently doesn’t have an egg management fee and NewDominion Bank of North Carolina.
The top ten best six month certificate of deposit rates took a mild chop to the average yield for the week ending April 2, 2010. The average rate for the top ten best national CD rates was down by one basis point, leaving the average yield at 1.27%. The best six month CD rate was unaffected, holding on to an interest rate of 1.31%.
The highest six month CD rate of 1.31% comes from State bank of India, as it did in the previous week. The next best six month CD rate is also unchanged with The Palladian Private Bank promoting a six month CD that has an interest rate of 1.30%. In the previous week this rate was also offered by Aurora Bank which has now dropped the yield on this term bank CD by the smallest unit of one basis point to fall into third place with a six month CD rate of 1.29%.
Three banks offer the fourth best six month CD rate available nationally. Nexity Bank, Shore Bank and Excel Bank market six month certificates that earn a rate of 1.28%. The remainder of the banks on the list of the top ten best six month CD interest rates all hold the same bank rate for the six month term CD. AmTrust Direct, Presidential Online Bank, Discover Bank and FirstFedDirect have six month CDs that yield 1.25% which completes the list of the top ten bank rates.
The average rate on the six month CDs may have fallen by one basis point or 1/100 of a percent for the week but the best CD rate in this term category remained unchanged and the lowest rate on the list was also unchanged. In fact, only two banks changed the rate offered on their six month certificates. Aurora Bank’s rate reduction as well as a rate drop from Ally Bank were the two changes for the week. Ally Bank was not able to make this week’s rate cut off for the list but was replaced by Discover Bank which markets the same 1.25% that was offered by Ally Bank in the preceding week.
This week, the average of the best six month CD rates available nationally remained unchanged. The average rate for the top ten best six month CD rates as measured by the SelectCDrates.com weekly CD interest rate survey remained at 1.28%, the same as the previous week’s average yield.
With the dramatic amount of bank interest rate cuts that have occurred week after week, stable rates are a pleasant reprieve even at the current low levels.
The highest six month CD rate available also held its ground for the week. The best six month CD rate stands at 1.31% and comes from the New York office of State Bank of India.
The top ten bank CD rates were virtually unchanged week over week. Only one bank changed their rates on the week with the other nine banks listed last week holding their rate offers constant. The one bank rate change came from NewDominion Bank which lowered the rate on their 6 month certificate from 1.26% to 1.21% which amounted to a drop measurable enough to push the bank off of this week’s list.
FirstFed Direct replaced NewDominion Bank with their six month CD interest rate of 1.25%.
There were no other rate changes on the week. The other eight banks comprising the list of the top highest six month CD rates other than the term rate leader, State Bank of India and the new entry of the week, FirstFed Direct, include the following banks listed with the highest rate to the lowest: Aurora Bank, The Palladian Private Bank, Nexity Bank, Shore Bank, Excel National Bank, Ally Bank, Amtrust Direct and The Presidential Online Bank.
The complete list of the top ten six month CD rates can be found on the enclosed bank rate tables labeled “Best CD Rates”.
Six month certificate of deposit rates were unchanged for the week ending March 12, 2010. Unfortunately, short term CD rates remain at their low point for the year. The average six month CD rates as measured by the weekly bank rate survey performed by Selectcdrates.com remained at 1.29%.
The highest six month CD rate available nationally is also unchanged for the week. The best six month CD rate comes from State Bank of India based in New York with an interest rate of 1.36%. The second best six month CD rate follows by five basis points at 1.31%. Two banks offer six month CDs with this rate, Aurora Bank and NewDominion Bank.
Four banks run right behind the top three bank rates, all offering six month CDs that earn interest rates of 1.30%. Nexity Bank, Shore Bank, Excel National Bank and The Palladian Private Bank promote the six month CD at 1.30%. Two banks, AmTrust Direct and Presidential Online Bank, offer six month CDs that yield 1.25%. The remaining bank on the list of the top ten best six month CD rates is FirdtFedDirect which is now operated by One West Bank and has six month CD at 1.24%.
Changes from the previous week’s list of the top ten best six month CD rates involved only one bank. FirstFedDirect rejoined the list after it was taken over by the FDIC and sold to One West Bank. FirstFedDirect replaced Stonebridge Bank which did not alter their rates for the week but simply did not make the cut off rate with the reintroduction of FirstFedDirect.
Rate stabilization on short term bank deposit rates is a welcome event even at these low levels. Short term Treasury rates also remain low and the Fed Funds rate has yet to move indicating that these rates may hold for some time.