The best CD rates in Florida moved up appreciably on the short term rates and remained stable on the longer term rates for the week ending May 8, 2009. All of the best bank rates with the exception of the one year term are handily beating the best national CD rates.
The highest CD rate in the six month category is a seven month promotional CD offered by Atlantic Southern Bank with an interest rate of 2.65%, well above the best national rate of 2.26%. Only ten basis points or 10/100 of a percent behind this rate is TotalBank’s six month CD with a rate of 2.55%. AmTrust Bank’s six month CD, that once led this group, is now in third position with an unchanged rate of 2.35%. Five basis points behind this offer is Trustco Bank with an eight month CD that yields 2.30%. Fidelity Bank is another five basis points back with a six month CD that earns a rate of 2.25%.
The highest one year CD rate in Florida continues to be offered by Urban Trust Bank at 2.75%. This trails the best national CD rate promoted by GMAC Bank at 2.80%. Ten basis points behind Urban Trust’s CD is Beach Community Bank with an odd month CD that matures in 13 months and has an interest rate of 2.65%. Ten basis points further back are the one year CDs of TotalBank and BankUnited that have an interest rates of 2.55%. Fifth Third Bank follows with an 18 month CD that earns a rate of 2.53%. The list wraps up with Fidelity Bank which has a one year CD rate of 2.50%.
The best two year CD rate in Florida is firmly ahead of the best national rate. Heritage Bank of Florida leads the two year CDs with an interest rate of 3.05%. Urban Trust Bank holds the number two spot with a two year CD rate of 2.85%. Two Florida banks, Bay Cities Bank and Fidelity Bank, are ten basis points back with two year CDs that yield 2.75%. Intervest National Bank and Atlantic Coast Bank wrap up the top two year CD rate list with certificates of deposit that earn 2.65%.
The best five year CD rate in Florida remains one of the best five year CDs available anywhere. Urban Trust Bank continues their offer of a five year CD with an interest rate of 4.50%. This rate is well above the competition with Fidelity Bank of Florida the next closest five year CD rate of 3.75%. Intervest National Bank follows with a five year CD that has a rate of 3.66%. Five basis points lower is Florida Traditions Bank five year CD with a yield of 3.61%. Rounding out the top five year CD rates is Fifth Third Bank at 3.53% and Bay Cities Bank at 3.50%.
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