Tennessee CD rates were split down the middle for the week of June 12, 2009.  The average of the best six month CD rates in Tennessee fell eight basis points or 8/100 of a percent to close at 1.81%.  The average of the best one year CD rates followed that downward move and dropped by two basis points to 2.40%.  Two year CD rates in the Volunteer State moved in the opposite and increased by one basis point to 2.77%.  The average of the best five year CD rates jumped to the other side and moved north from 3.56% at the start of the week to 3.62% to end the week.

The best six month CD rates in Tennessee are nothing to write home about.  The highest rate comes from Citizens Bank of East Tennessee on a seven month term that yields 2.01%.  Following this rate is a six month CD from Sumner Bank & Trust with a rate of 1.85%.  Five basis points lower is the six month CD of Greeneville Federal Bank that has an interest rate of 1.80%. 

The best one year CD rate is a tie with four Tennessee banks offering bank rates at 2.50%.  Citizens Bank of East Tennessee, Greeneville Federal Bank, Cornerstone Community Bank and Carter County Bank all offer rates of 2.50% on terms ranging from 11 months to 17 months.  The next best one year CD rate comes from First Alliance Bank with an interest rate of 2.31%.

Two year CD rates in the state are where the sweet spot is.  The best two year CD rate in Tennessee comes from Greeneville Federal Bank at 2.96% well above the best national rate.  Tennessee Commerce Bank is only nine basis points back with a two year rate of 2.87%.  Rounding out the top three bank rates is Citizens Bank of East Tennessee that offers a two year CD rate of 2.80%. 

Two Tennessee banks offer CD rates in the five year term category that eclipse the best national rates.  US Bank has a promotional 59 month CD that the bank recently increased the yield on to 4.00%.  Citizens Bank of East Tennessee follows with a five year CD that earns a rate of 3.75%.  Ten basis points below this offer is the five year CD of Tennessee Commerce Bank with a rate of 3.65%.

Tags: , , , , , , , , , , , , , , , , ,

No user commented in " The Best CD Rates in Tennessee for June 12, 2009 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)