One Year CD Rates April 26, 2010

One year certificate of deposit rates available nationally were down for the week ending April 23, 2010 based on the most recent survey of bank CD rates performed by Selectcdrates.com.  The average rate on the top ten best one year bank CDs fell by three basis points or 3/100 of a percent on the week.  The average yield for the best one year CDs settled down to 1.56% from 1.59% in the previous week.

The best one year CD rate for the week held constant at 1.70%.  The highest one year CD remains at Tennessee Commerce Bank.  This rate was shared by Doral Bank in the previous week which has since lowered the rate on their one year CD and has subsequently dropped off the top ten best bank rate list.

The second highest one year CD rate comes from Acacia Federal Savings Bank with yield of 1.65%, unchanged from the previous week.  State Bank of India follows with a one year CD that earns an interest rate of 1.56%.  This rate is also unchanged from the previous week.

The third highest one year CD follows by just one basis point.  Ultima Bank Minnesota and Flagstar Bank, both offer one year CDs with an interest rate of 1.55% to hold this position.  Another one basis point beneath these offers are the CDs from Aurora Bank and Bank of Internet.  These two banks have one year certificates that yield 1.54%.

Keeping the spread tight among the banks in the mid section of the list, Nexity Bank promotes a one year term deposit that has a rate just one more basis point behind Aurora Bank and Bank of Internet at 1.53%.  NewDominion Bank markets their CD two bps lower at 1.51%.  The final bank on the list of the top ten best one year CD interest rates is American Express Bank.  American Express has a one year CD that earns a rate of 1.50% to wrap up the list. 

Of the ten banks listed on last week’s list, five banks altered their interest rates.  All rate changes were revised downward.  Three banks dropped off of the list; Doral Bank, Excel National Bank and Goldwater Bank.  These banks were replaced by American Express Bank, NewDominion Bank which just made this week’s cut off point as well as Flagstar Bank which hopped right in the middle after increasing the rate on their one year term CD.

Tags: American Express Bank, Banks, best one year CD rate, CD interest rates, CD rates, certificate of deposit rates, interest rates, NewDominion Bank, one year CD rate, rates

This entry was posted on Tuesday, April 27th, 2010 at 9:25 pm and is filed under 1 Year CD Rate Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.