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The Best Six Month CD Rates April 19, 2010

Posted in April 19th, 2010
by admin in 6 Month CD Rate Updates

Six month CD rates were down on average for the week ending April 16, 2010.  The average of the top ten best six month CD rates available nationally were lower by three basis points driving the average yield down to 1.24% from 1.27% in the previous week according to the survey of bank CD rates [...]

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6 Month CD Rates March 8, 2010

Posted in March 7th, 2010
by admin in 6 Month CD Rate Updates

Six month bank CD interest rates were down again this week, continuing a downtrend that has seen no abatement in 2010.  The average 6 month CD rate based on the selectcdrates.com survey of the top ten best six month CD rates available nationally fell by three basis points or 3/100 of a percent on the [...]

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The Best Six Month CD Rates February 1, 2010

Posted in February 1st, 2010
by admin in 6 Month CD Rate Updates

Continued economic concerns have placed unrelenting pressure on short term bank CD interest rates.  This week, six month CD rates dropped modestly but it was a continuation of falling rates that has taken place each week since the start of 2010.  The average of the best six month CD rates fell one basis point or [...]

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The Best Two Year CD Rates for June 12, 2009

Posted in June 15th, 2009
by admin in 2 Year CD Rate Updates

The average of for the best two year CD rates available nationally accelerated their decline from the previous week.  Two year CD rates fell by six basis points or 6/100 of a percent for the week to end the week at 2.61% after dropping three basis points last week.  Since the start of May, the [...]

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The Best Five Year CD Rates for the Week of June 12, 2009

Posted in June 15th, 2009
by admin in 5 Year CD Rate Updates

The best five year CD rates available nationally went against the tide by managing to produce a small gain in yield while all other bank CD term rates dropped for the week.  The highest bank rates were unchanged; however, the average of the top ten bank CD rates did increase.  The average of the five [...]

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Five Year CD Rates for June 5, 2009

Posted in June 8th, 2009
by admin in 5 Year CD Rate Updates

Five year CD rates continued their slide, along with rest of the bank CD terms, for the week of June 5, 2009.  The average of the top ten highest five year CD rates declined to 3.56% from 3.61% in the previous week.  The reduction in the five year term CD rates was the smallest percentage [...]

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The Best One Year CD Rates Update Week Ending May 1, 2009

Posted in May 4th, 2009
by admin in 1 Year CD Rate Updates

The average rate for the top 10 best one year CD rates rose by one basis point or 1/100 of a percent for the week ending May 1, 2009.  The bank CD rate average for the one year term stood at 2.61%.  Though the bank rate averages saw only a modest rise, the top one [...]

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The Highest New York CD Rates Update April 24, 2009

Posted in April 30th, 2009
by admin in New York CD Rate Updates

New York state CD rates continue to offer more opportunities than can be found from the national bank rates.  The list of banks moved around the various term lists, however most of the highest CD rates remained stable and continue to outpace the national averages.  Massena Savings & Loan offers the best six month CD [...]

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Five Year CD Rates Update Week Ending April 24, 2009

Posted in April 25th, 2009
by admin in 5 Year CD Rate Updates

The average rate for the best national CD rates with a five year term were unchanged for the week ending April 24.  The top 10 best national CD rates with this term ended the week with an interest rate of 3.51%.  State Bank of India remained on top with the best five year CD rate [...]

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Best One Year CD Rates

Posted in January 25th, 2009
by admin in Money Rates

For the week ending January 23, 2009 the best one year CD rates in are hovering right around a 3.00% with a few banks offering CD rates above 3.00%.  The battle for the top one year CD rate has been fierce with lead changes happening multiple times during the week. 
Flagstar Bank headquartered in Troy, Michigan [...]

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CD Rate Updates

CD Interest Rates Continue to Fall July 19, 2010

National certificate of deposit rates once again moved lower for the week ending July 16, 2010. According to the most recent survey of bank CD rates performed by Selectcdrates.com, CD interest rates were lower for three of the five CD maturities measured and remained unchanged for the remaining two terms.
The average of the top [...]

Bank CD Interest Rates June 21, 2010

Certificate of deposit interest rates were just fractionally lower for the week ending June 18, 2010 based on the survey of bank CD rates performed by Selectcdrates.com. National CD rates for the three month, six month and two year maturities ended the week unchanged from the prior week. The one year and five [...]

Bank Certificate of Deposit Rates June 14, 2010

Certificate of deposit interest rates ended the week on June 11th with mixed results across the various maturities. The average yield for the five year CD rates ended with a gain on the week while the six month and one year term CDs remained unchanged. Unfortunately, the average rate on the top ten [...]

Banking & CD FAQs

Can the bank charge an overdraft fee while there is a deposit pending?
Yes. Many transactions are processed overnight. These transactions may not be reflected in an available balance. On checking accounts, banks generally post deposits before withdrawals. However, the law does not require this. In addition, banks may establish a cutoff time for deposits made at a branch or through an ATM. Deposits
Does the interest earned on a CD need to be reported as income?
Yes. The bank where you have your CD should have sent you Form 1099-INT stating how much interest you earned last year. A duplicate will have been sent to the IRS so the government knows about your interest earnings. If you didn’t receive one give the bank a call.
My bank is charging me exorbitant ATM fees. Is this legal?
Yes. Federal law allows banks to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each bank should make the decision on the type, amount, and method of calculation based on sound banking judgment and safe and sound banking
Why are money-market funds always priced at $1 per share?
It’s an accounting fiction. Money-market funds are just short-term bond funds. Although the target price for each share is $1, a bond might be at 0.998 cents on the dollar while another is at 1.00123 cents, and it all balances out to $1 per share.
National Averages
CD Rates, Bank Rates,
Fund Rates and Key Rates
6 Month CD Rates
1.18%

1 Year CD Rates
1.49%

2 Year CD Rates
1.85%

5 Year CD Rates
2.85%

-----------------
Money Market Act. Rates
1.21%

Savings Account Rates
1.39%

Money Market Fund Rates
3.11%

Tax Exempt Fund Rates
2.39%

-----------------

Bank & CD Tips

Savings and Investment Transaction Costs
You must consider the transaction costs involved in any investment type.  Most bank accounts such as savings accounts, money market accounts and certificates of deposit do not have charges to open the account.  For most investment accounts, the costs are commissions but transaction costs can also be the fees on a bank account or the charges
Tip #49
Always keep a watchful eye on the movement of interest rates and inflation. Inflation can erode the value of your savings, especially low yielding short term savings, by devaluing the value of your dollars. Over time, inflation can decreases the purchasing power of investments rather substantially. Find the best CD rates and
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