The average of the top ten best five year certificate of deposit rates ended the week at 3.32%.  This rate is one basis point or 1/100 of a percent higher than the previous week’s average rate of 3.31%.  The highest rate in the five year term category was unmoved for the week with an interest rate of 3.40%. 

The best five year CD rate is available at three banks nationally.  Acacia Federal Savings Bank, Atlantic Coast Bank and Goldwater Bank offer five year term CDs that earn a rate of 3.40%.  A trio of banks follows the top rate with the next highest five year CD interest rate at 3.30%.  First Internet Bank, Discover Bank and One West Bank have five year CDs that with yields 10 basis points behind the highest rate at 3.30%.

The third highest five year CD rate available nationally, which is the seventh bank on the list of the top ten five year CD rates, comes in at 3.29%.  State Bank of India’s office in New York offers the five year CD at 3.29%.  Two basis points lower is the five year CD offered by Intervest National Bank with an interest rate of 3.27%.

The remaining two banks on the list of the highest five year CD rates have five year term CDs that yield 3.25%.  Both, American Express Bank and Dime Direct promote five year bank CDs that earn a rate of 3.25%.

For the week, there was just one rate change with One West Bank jumping onto the list with the second highest bank rate after being omitted in the previous week.  The inclusion of One West Bank’s five year product pushed the number 10 bank from the previous week, Flagstar Bank, off the list for the week.

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