The average of the best one year certificate of deposit  rates available nationally was lower by a relatively small sum for the week ending November 27, 2009.  Week over week, the average of the top ten best one year CD rates was lower by just one basis point or 1/100.  The average for the top ten bank certificates with a one year term closed the week at 1.97% down from the prior week’s average of 1.98%.

The highest one year CD rate marketed nationally remained unchanged.  The top rate comes from UmbrallBank.com which offers a one year CD with an interest rate of 2.10%.  The second highest nationally available one year CD interest rate was also unchanged with Pacific Mercantile Bank continuing to market their one year term CD with an interest rate of 2.01%.

Following the two leaders, two banks offer one year CDs at 2.00%, down from three banks in the previous week.  Colorado Federal Savings Bank and UFB Direct both promote one year CDs that yield 2.00%.  State Bank of India follows with a one year at 1.96%.  The Palladian Private Bank offers a one year CD rate that is one basis point lower at 1.95%.  NewDominion Bank has a one year CD at 1.92% that stands as the fifth highest rate available.  One basis point lower yet is the bank certificate from Ascencia Bank that has an interest rate of 1.91%.

The list for the top ten best one year CD rates wraps up with the bank CDs from Acacia Federal Savings Bank and Ally Bank which have one year bank CDs that yield 1.90%.

The top three bank rates for the one year term CDs was unchanged week over week although the average had fallen by one basis point.  Two banks did reduce the interest rate paid on their one year CDs with one bank moving off the list for the week, MetLife Bank, while one bank simply dropped down a few notches.   The loss of MetLife Bank made room for UFB Direct which entered onto the list not only because the loss of MetLife but because UFB Direct also raised the rate on their one year CD from the previous week.  This rate increase was the only positive change on the list from the prior week.

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