Certificate of deposit rates in Florida dropped on average for the week ending May 22, 2009 however the best CD rates were predominantly unchanged.  All bank CD term categories in Florida continue to surpass the best national rates.

The best six month CD rate in Florida continues to be promoted by Atlantic Southern Bank with a rate of 2.65% on a seven month term.  The average of the highest six month CD rates received a boost with the new eight month CD of Bank Premier that yields 2.50%.  Atlantic Southern Bank also leads the one year tern CDs with an odd term, 13 month CD that has an interest rate of 2.90%.  The next best one year CD rate comes from Urban Trust Bank with an interest rate of 2.75%.

The highest two year CD rates are identical to the previous week.  Heritage Bank of Florida is the term leader at 3.05%.  This CD rate is followed by Urban Trust Bank with an interest rate of 2.85% on their two year CD.  The highest five year CD rates remain in place as well with a small reduction in the average for the best five year CD rate due to the drop off of Fidelity Bank which previously marketed a five year CD at 4.00% and has reduced the rate to 3.00%.  The best five year CD rate belongs to Urban Trust Ban k at 4.50%, well above the competition nationwide.  The second best CD rate continues to be held by Fidelity Bank of Florida at 4.00%.

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