The Best Two Year CD Rates for June 12, 2009

The average of for the best two year CD rates available nationally accelerated their decline from the previous week.  Two year CD rates fell by six basis points or 6/100 of a percent for the week to end the week at 2.61% after dropping three basis points last week.  Since the start of May, the average of the top ten two year bank CD rates has decreased a total of 14 basis points.

Fortunately, during this weeks downward rate movement, the top three banks have not altered their rates.  The top three banks not only remained unchanged but their rate promotions are within seven basis points of one another.  The drop in the averages for the two year CD rates for the week is entirely the result of rate reductions within the list of the top ten banks, since the lowest rate at 2.50% is also unchanged from the prior week.  

The highest two year CD rate remains at 2.87% and can be found at Tennessee Commerce Bank.  State Bank of India also held their rate steady with a two year CD that yields 2.84%.  Discover Bank rounds out the top three with a two year CD rate of 2.80%.  The best bank CD rates make a large shift down from this point.   The next best two year rate stands at 2.55% coming from Advanta Bank.  Nexity Bank follows with a two year rate of 2.54%.  The people’s bank or AIG Bank offers a two year CD just three basis points lower at 2.51%.  Four banks offer rates at 2.50% to finish the top ten: Ally Bank, Stonebridge Bank, Intervest National Bank and La Jolla Bank.

Tags: Advanta Bank, bank CD, bank CD rates, banks, best two year CD rates, CD rates, Discover Bank, rates, State Bank of India, Tennessee Commerce Bank, two year CD rates

This entry was posted on Monday, June 15th, 2009 at 11:19 am and is filed under 2 Year 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.