Bank CD Rates for the Week Ending October 9, 2009

CD interest rates for the week ending October 9, 2009 were mostly lower with the exception of the one year CD rates which managed to hold steady without a change to the average yield.

The average of the best six month CD rates available nationally dropped by two basis points or 2/100 week over week.  The average yield for the top ten best six month CD rates is now at 1.65%.  Ascencia Bank’s six month CD rate remains the highest rate with an interest rate of 1.76%.  This bank CD rate is unchanged from the prior week.

The best one year CD rates held their ground for the week.  The average of the best one year CD rates available nationally was unchanged at 2.05%.  The highest one year CD rate comes from ING Direct with their new “added value CD”.  This is a one year CD must be opened with new funds transferred to ING and the account comes with CD interest rate of 2.25%.

The best two year CD rates also lost ground for the week.  The best two year CD rates moved down on average by two basis points.  The average of the top ten two year CD rates fell to 2.32%, from 2.34% in the previous week.  E-Loan once again holds the top spot in this category with a two year CD rate of 2.37%.

Five year CD rates made it a trifecta, a losing trifecta, by falling by two basis points as well.  The average interest rate for the best five year CD rates stood at 3.38% to close the week.  Five year CD rates were off from last week’s average of 3.40%.  The best five year CD rate is a product of iGOBanking which offers a five year CD rate of 3.50%.

Tags: bank CD, CD interest rates, CD rates, five year CD rates, one year CD rates, rates, six month CD rates, two year CD rates

This entry was posted on Monday, October 12th, 2009 at 3:50 pm and is filed under CD Rate Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.