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 year CD rates rose more substantially.  GMAC Bank once again has the best one year CD with an interest rate of 2.80%.  This rate is five basis points ahead of last week’s rate.  Corus Bank is four basis points back with a one year CD that earns a rate of 2.76%.  This CD rate is two basis points higher than what Corus was offering the week earlier.  The third spot is a one year CD being promoted by UFB Direct at 2.65%.  State Bank of India follows behind that offer, unchanged form the prior week, with a one year CD rate of 2.63%.  UmbrellaBank.com’s one year CD rate of 2.60% falls next in line also unchanged from the prior week.  Four banks trail this rate with one year certificates that have interest rates between 2.51% and 2.56%.  Ascencia plays clean up on the top 10 list with a one year CD rate of 2.48% and a minimum deposit of $500.00.

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