CD interest rates offered by banks that are available nationally were little changed for the week ending September 25, 2009.  Short term bank CD rates, six month and one year term CDs, were unchanged while the longer term CD rates, two year and five year terms,  moved in opposite directions by a relatively very small margin. 

The average of the best six month CD rates available nationally for the week did not move, holding the average interest rate at 1.69%.  The highest six month CD rate in the category dropped modestly, however.  The top rate with a six month terms comes from Ascencia Bank which offers the six month bank CD at 1.76%.  The previous term leader was La Jolla Bank which dropped the interest rate on the six month CD from 1.80% to 1.75% and now promotes the second best six month CD rate.

The one year CD rate average was also unaltered for the week.  The average of the best one year CD rates held at 2.03%.  The highest one year CD rate available nationally is marketed by UmbrellaBank.com which offers this term bank CD at an interest rate of 2.15%.  UmbrellaBank.com held the top position in the previous week as well with the same yield.

The best two year CD rates lost some ground for the week.  The average of the best CD rates was lower by one basis point or 1/100 of a percent pushing the average yield down to 2.34%.  The highest two year CD rate can be found at E-Loan with an interest rate of 2.37%.  The top rate fell more appreciably than the average for this maturity.  Tennessee Commerce Bank had offered the best two year bank CD with an interest rate of 2.50%.  This week the bank lowered that interest rate to 2.25% leaving the top rate at 2.37% or 13 basis points lower than the previous week. 

The average of the best five year CD rates moved in the opposite direction of the two year bank CDs with the average yield moving higher.  The average of the five year CD rates was higher by two basis points boosting the yield from 3.38% in the prior week to 3.40% by September 25.  The highest CD rate with a five year term is promoted by two different banks for the week.  Both, Citibank and iGOBanking offer five year CDs that have interest rates at 3.50%.

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