Texas CD Rates October 16, 2009

The best CD rates in Texas edged up rather measurably for the week ending October 16, 2009.  All bank CD maturities rose on average for the best CD rates in the state.

The average of the best six month CD rates in Texas increased by eight basis points or 8/100 of a percent.  The average CD interest rate for a six month term CD moved up from 1.97% to 2.05% at the close of the week.  The best six month CD rate is an odd term CD promoted by First State Bank.  First State Bank markets a seven month CD that has an interest rate of 2.27%.

One year CD rates in Texas also moved higher for the week.  The average of the best one year CD rates rose eight basis points as well, pushing the average yield from 2.22% to 2.30%.  The best one year CD rate comes from Plains State Bank which offers an interest rate of 2.52%.  Carmine State Bank follows with a one year CD rate of 2.32%. 

The best two year CD rates in Texas gained ten basis points for the week.  The average of the best two year CD rates in Texas stood at 2.65%.  First State Bank’s whopping 19 month CD promotional offer dwarfed the competition and brought the average up.  First State Bank is offering a 19 month promotional CD that has an interest rate of 3.03%.  Not too far behind that offer is a two year CD from First National Bank that has a rate of 2.78%.

Five year CD rates in Texas moved up by a modest amount.  The average of the best five year CD rates in Texas climbed one basis point pushing the average yield up to 3.39%.  The best five year CD rate in Texas is produced by two banks.  First National Bank of Port Lavaca and Citibank both offer five year CD rates at 3.50%.

The best CD interest rates in Texas have moved up measurably higher to surpass the best national bank CD rates.  A number of the highest CD rates do come from more rural community banks, but the list does have a number of banks in the major metropolitan areas of Texas and some banks that have may have had CD rates high enough to make the list were excluded because their location was simply too far off the beaten path.

Tags: bank CD, Banks, best CD rates, CD interest rates, CD rates, CD rates in Texas, highest CD rates, one year CD rates, rates, six month CD rates, Texas CD rates

This entry was posted on Monday, October 19th, 2009 at 8:20 pm and is filed under Texas 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.