One Year CD Rates for the Week of July 3, 2009

The Federal Reserves most recent meeting has made it clear they are in no hurry to boost interest rates.  With the continued lack of job growth and low inflation in the short term, bank rates seemed destined to remain low for short term maturities.  One year CD rates took those cues and did in fact continue to push lower.  

The average of the best one year CD rates was lower by one basis point or 1/100 of a percent to end the week at 2.26%.  The highest one year CD rate is was unaffected at 2.35%.  Amboy Bank offers this rate on their one year CD with a minimum deposit of $10,000.00.  FirstFedDirect, which leads the best six month CD rate category, falls into second place for this term CD with a one year CD that yields 2.30%.  The third highest bank rate comes from State Bank of India with a one year CD at 2.27%.  AIG Bank and NewDominion Bank share the next spot with one year CDs that earn a rate of 2.26%.  Four banks offer CD rates at 2.25% including; Ally Bank, One West Bank, Excel National Bank and The Palladian Private Bank.  The top best one year CD rates winds up with Ascencia Bank’s promotion of 2.20% on their certificate.

The one year Treasury rate flopped around like a fish out of water, starting the week at 0.45% then quickly rising to a high of 0.56% before ending the week at 0.49%.  All on a shortened trading week.  This is a week in which unemployment figures were higher than expected and the Federal Reserve hinted that inflation was of little concern.  Technically, they didn’t hint, voting member Janet Yellen stated that the deflation was likely to be a bigger concern than inflation.  No wonder bank CD rates are not going higher.

Tags: Ally Bank, bank CD, bank rates, Banks, best one year CD rates, CD rates, Excel National Bank, highest one year CD rate, interest rates, One West Bank, one year CD rates, rates, The Palladian Private Bank, Treasury rate

This entry was posted on Tuesday, July 7th, 2009 at 3:26 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.