The Best Six Month CD Rates April 19, 2010

Six month CD rates were down on average for the week ending April 16, 2010.  The average of the top ten best six month CD rates available nationally were lower by three basis points driving the average yield down to 1.24% from 1.27% in the previous week according to the survey of bank CD rates performed by SelectCDrates.com. 

The top ten best six month CD rates available nationally ranged in yield from 1.28% for the highest rate down to 1.16% on the bottom of the list.  The highest six month certificate comes from Aurora Bank with an interest rate of 1.28%.  The top rate is down from last week’ best six month rate which was yielding 1.31%.

The second highest six month bank rate is at 1.27% and is available at two banks, Nexity Bank and Shore Bank.  Last week’s term leader, State Bank of India, is now offering the third highest six month CD rate at 1.26%.

Three banks follow the top trio with certificate of deposit rates at 1.25%.  AmtrustDirect, Discover Bank and Excel National Bank promote six month term CDs that have interest rates at 1.25%.  Ally Bank runs five basis points of 5/100 of a percent behind these banks with a CD rate at 1.20%.

NewDominion Bank falls into ninth position with a six month CD interest rate of 1.17%.  And the final bank on the list, Goldwater Bank, tracks this rate by just one basis point with a certificate that earns an interest rate of 1.16%. 

Of the ten banks that were the top ten performers on last week’s list, seven banks made interest rate changes to their six month CDs.  All of the rate changes were downward revisions.  State Bank of India, The Palladian Private Bank, Aurora Bank, Bank of Internet, Nexity Bank, Shore Bank and Presidential Online Bank reduced their CD interest rates week over week.

Three banks, The Palladian Private Bank, Bank of Internet and Presidential Online Bank, failed to make this week’s interest rate cut off point due to the extent of their rate depreciation.  These banks were replaced by the six month CD rate products of Goldwater Bank of Arizona, Ally Bank which apparently doesn’t have an egg management fee and NewDominion Bank of North Carolina.

Tags: Aurora Bank, bank CD rates, Bank of Internet, Banks, best six month CD rates, CD interest rates, CD rates, interest rates, rates, six month CD rates, State Bank of India, The Palladian Private Bank

This entry was posted on Monday, April 19th, 2010 at 12:49 pm and is filed under 6 Month 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.