The average rate for the top national bank CD rates with a two year maturity was down modestly for the week ending June 11, 2010. The average yield on the top ten highest two year CD rates shed one basis point or 1/100 of percent on the week. The average yield dipped down from 1.99% last week to 1.98% in the most recent week surveyed.

The highest two year CD rates available nationally held firm once again. The best two year CD rate remained at 2.05% and is available from Tennessee Commerce Bank.

The second highest two year CD rate can be found at multiple banks. The next best rate falls five basis points behind the term leader with an interest rate of 2.00%. A 2.00% two year bank rates is available on the following CDs; American Express CD, Bank of Internet CD and Seacoast Commerce Bank CD.

NewDominion Bank offers the third highest two year CD rate. The NewDominion CD has an interest rate at 1.97%. One basis point below NewDominion Bank is the CD from Aurora Bank which earn an interest rate of 1.96%.

The remaining banks on the list of the top ten highest two year bank CDs all share the same interest rate. Four banks remain with CD yields at 1.95%. The bank CDs offering this rate include NOVA Bank CD, Eastern Savings Bank CD, Shore Bank CD and Ultima Bank Minnesota CD.

Although the average rate drop was quite mild this week, four banks changed their CD rates from the previous week. One bank, Acacia Federal Savings Bank, did not return to the current top ten list due to a rate reduction that fell below the minimum 1.95% cut off. The tenth bank added from the current bank rate survey to this week’s list is Eastern Savings Bank.

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