Five year certificate of deposit rates experienced a appreciable loss in yield for the week ending November 27, 2009.  The average rate for the top ten best five year CD rates fell by three basis points or 3/100 of a percent bringing the yield down to 3.36% from 3.39% in the previous week. 

The highest five year CD rate remained unchanged for the week with an interest rate of 3.55%.  Goldwater Bank continues to be the lead bank in offering the highest five year CD available nationally.  Acacia Federal Savings follows this rate with their online bank CD that has an interest rate of 3.50%.  The third highest bank rate is a full 10 basis points lower at 3.40%, this rate can be found Atlantic Coast Bank.

Both Discover Bank and Dime Direct offer five year CDs that fall behind the number three spot.  These banks promote their five year certificates with interest rates at 3.35%.  Just one basis point lower is the five year bank CD offered by State Bank of India with an interest rate of 3.34%.  Two banks drop behind State Bank of India with five year rates at 3.30%.  First Internet Bank and One West Bank have five year CDs that yield 3.30%. 

The remaining two banks on the top ten list include Intervest National Bank which has a five year CD rate of 3.27% and American Express Bank which markets a five year CD at 3.25%.

Of the ten banks listed on the prior week’s list, just two banks reduced their rates.   State Bank of India reduced their rate but managed to hang on the list while one of the banks rate reduction dropped their product below the minimal threshold to remain on the top ten best rates which in turn made room for American Express Bank to reach the top this week.  The list ended with no rate increases in the five year term certificate.

Tags: , , , , , , , ,

No user commented in " Five Year CD Rates November 27, 2009 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)