The best bank CD rates available nationally were virtually unchanged for the week ending June 7, 2013. While many bank rates bounced around during the week, a week that delivered the widely watched monthly employment report, bank CD rates showed little energy. The average CD rate measured by the SelectCDrates.com CD rate index was bumped up higher by just 1/1000th of a percent. The SelectCDrates.com index measures the best CD rates available nationally for the three month term CDs, six month CDs, one year, two year and five year CDs.
The SelectCDrates.com CD rate index increased to 0.966 percent from 0.965 percent in the previous week.
The short term, three month CD rates, lost 1/1000th of a percent this past week. The average rate found on the top ten highest three month CDs dipped to 0.423 percent from 0.424 percent in the prior weekly survey. UmbrellaBank.com, the online banking division of Beal Bank, continues to lead this term with a three month CD rate at 0.51%.
Six month CD rates were completely unaltered on the week with the average rate on the top three month CD rates holding at 0.708 percent. Doral Direct CD rates for a six month term CD continue to be the top offering with a certificate that earns 0.88%. EH National Bank CD rates for this term are not far behind with the three month rate at 0.85%.
Nine month CD rates were also held in check over the week. The average rate on the highest nine month CD rates was kept in place at 0.719 percent. Doral Direct also leads the pack for this bank CD term with a nine month CD interest rate of 0.92%.
The best one year CD rates on the market were cut back slightly, losing 5/1000ths of a percent from the preceding week. The average yield on the one year certificate dropped to 0.971 percent from 0.976 percent in the week earlier. GE Capital Bank promotes the highest one year CD rate at 1.05% followed by SalemFiveDirect and CIT Bank which promote the one year CDs with an interest rate of 1.00%.
18 month CDs were the third category of CDs showing no rate movement. The rate on the top ten 18 month CDs was left alone at 0.967 percent. Doral Bank Direct has the highest 18 month CD rate at 1.03% with GE Capital Bank and BAC Florida Bank offering 18 month CDs just three basis points lower at 1.00%.
The two year bank CD rates displayed a minor rate slip with the average rate on these CDs sliding down to 1.122 percent from 1.121 percent in the prior week. SalemFiveDirect is the stand out for this account maturity with two year CD rate of 1.25%. CIT Bank sits a full five basis lower with a two year CD yielding 1.20%.
Three year CD rates ended the week right where they started at 1.279 percent. SalemFiveDirect leads the best rates here with a three year CD rate of 1.50% which is also only five basis points below the best four year CD rate on the market.
Four year CD rates showed a gain in yield this week with the average rate rising to 1.363 percent from 1.358 percent in the prior week. The highest four year CD rate can be found at Barclays Bank which markets a four year CD at 1.55%.
The longest term CDs measured in the weekly survey, five year certificates, managed to squeeze out a gain in yield. The average rate on the best five year CD rates climbed by 7/1000ths of a percent to end the week at 1.605 percent after making a start at 1.596 percent. EverBank CD rates are the market leader in the long term category with a five year that yields 1.76%. Barclays Bank CD rates are not far behind with the five year at this bank coming in at 1.75%.
A list of the best CD rates available across the nation for the week ending June 7, 2013 is available to help consumers shop and compare the highest CD rates by maturity and can be found at following CD rate tables: three month CD rates, six month CD rates, nine month CD rates, one year CD rates, two year CD rates, three year CD rates, four year CD rates and five year CD rates.