CD rates advanced mid June in the midst of political uncertainty in the Middle East.  Rates did not move significantly higher but in light of the trouble brewing in Iraq and Syria combined with the continued tensions in Ukraine; rising interest rates would not normally be the outcome one would expect.

The best CD rates available nationally increased by 2/1000ths of a percent of a percent for the week ending June 13, 2014.  The most recent bank CD rate survey conducted by SelectCDrates.com measures the top ten highest CD rates available nationally from FDIC insured banks for three month CDs, six month CDs, one year CDs, two year CDs and five year CDs.  Of the five maturities measured in the survey, two showed increasing rates over the course of the week, two were unchanged, and one moved lower. 

The two rising rate categories were the three month CD rates and two year CD rates.  The average rate on the three month term certificates was increased to 0.397% from 0.392% from the previous week.  Two year term certificates increased to 1.203% from 1.192% in the week earlier.

The top three month CD comes from UmbrellaBank.com, a division of Beal Bank, which promotes a three month term certificate at 0.51%.  The rate offered by UmbrellaBank.com is a full six basis points above the next best competitors, AloStar Bank and EverBank, which offer three month certificates at 0.45%.

The best two year CD rate is available at Virtual Bank and EverBank.  Both banks offer a two year certificate with an interest rate of 1.26%.  The next best two year CD rate is found at Salem Five Direct, an online division of Salem Five Cents Savings Bank, with an interest rate of 1.25%.

The best six month CD rates and five year CD rates in the survey were unchanged.  The average rate for the top ten best six month CD rates held at 0.737%.  Doral Direct continues to offer the highest six month certificate with a rate of 0.87%, Doral Direct is the online branch of Doral Bank.  Bank5 Connect, the online banking division of BankFive, has the second highest six month CD rate at 0.85%.

Five year CD rates were unchanged with average yield of 2.151%.  Two banks offer the highest five year term certificates, Synchrony Bank and EverBank.  Both, Synchrony Bank and EverBank, have five year CD rates at 2.30%.

The one losing CD category for the week was the one year term CDs.  The average rate on the top ten highest one year CD rates available nationally declined by one basis point to 1.050% from 1.060% from the preceding week.  One basis point is equivalent to 1/100th of a percent.  The best one year CD rate is available at two separate but related banks.  Both, GE Capital Bank and Synchrony Bank promote one year CD rates at 1.10%.  Both banks are FDIC insured institutions with separate certificate numbers however; both banks are independent subsidiaries of General Electric Co.

A list of the best CD rates available across the nation to help consumers shop and compare the highest CD rates by maturity for the week ending June 13, 2014 is available at the following CD rate tables: three month CD ratessix month CD ratesnine month CD rates, one year CD rates, two year CD rates, three year CD rates, four year CD rates and five year CD rates.

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