Two year certificate of deposit interest rates were lower once again at the end of the week.  The average rate for the top ten best two year CD rates gave up three basis points or 3/100 of a percent by the time the week came to a close.  The average yield for the two year certificates now stands at 2.10%, down from last week’s average interest rate of 2.13%.

The best two year CD rate was unaltered, Atlantic Coast Bank continues to promote the highest two year CD with an interest rate of 2.30%.  The State Bank of India also continues to hold the second highest rate with a two year CD rate of 2.17%.  Bank rates on two year two terms differ significantly from this point compared to the previous week’s rates.

NewDominion Bank has a two year CD that falls six basis points behind the second highest rate and four basis points lower than last week’s next best rate with a CD interest rate of 2.11%.  Two banks, iGOBanking and Tennessee Commerce Bank, have two year CD rates just one basis point lower at 2.10%.  The remaining five banks on the list of the top ten best two year CD rates all offer bank CDs with interest rates at 2.05%.  The reaming five banks include: Acacia Federal Savings Bank, Nationwide Bank, Aurora Bank, Discover Bank and TriState Capital Bank. 

Four banks changed their rates during this week, all of them to the downside.  Two banks were removed from last week’s list including UFB Direct which was taken over by the FDIC and AmTrust Direct which reduced their two year CD rates below this week’s cutoff.  Two new bank rates were added as replacements, TriState Capital Bank and Nationwide Bank are now found on this week’s list.

To find and compare the best CD rates among the most common maturities offered by the national banks, visit Selectcdrates.com tables of the best national CD rates.  To find and compare the best CD rates among the state and regional banks, visit Selectcdrates.com state rate tables listed in order of state population.

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