Certificate of deposit rates in Wisconsin increased on the short end but lost ground on the long end of the CD rate yield curve. The best short term, six month CD rate is now being promoted by First National Bank of Park Falls at a rate of 2.62% which is two basis points or 2/100 of a percent above last weeks best six month CD rate. American Bank and Trust is second in line with their nine month CD that is carry over from last week with an interest rate of 2.60%. The depth in the list is much shallower than the previous week with only one bank, Park Bank, offering a 2.50% rate and the list concluding with a six month CD rate at 2.36% which is the product of First National Bank of Platteville. Even with the lack of depth, these CD rates are all well above the best national rates for this term.
The best one year CD rates in Wisconsin are almost identical to the prior week with changes in interest rates appearing at the low point of the list. The highest one year CD rates in Wisconsin are offered by two banks, Bank of Lake Mills and Bank of Deerfield, at 2.85%. This is five basis points lower than the best national bank CD for this term. Bank of Lake Mills offers this rate on a ten month term while Bank of Deerfield makes this rate available on their 15 month promotional CD. Five basis points below this rate are the CDs from First National Bank and American Bank and Trust that have an interest rate of 2.80% on 13 month terms. Wrapping up the list are the one year CD rates of First National Bank of Park Falls at 2.73% and Bank of Sun Prairie at 2.65%.
The average for the best two year CD rates in Wisconsin slipped slightly for the week while the highest rates remained unchanged. Almost all of the top bank rates in Wisconsin in the two year term category exceed the best national rates. The highest rate continues to be marketed by Farmers and Merchants State Bank on a 29 month term with an interest rate of 3.0%. First National Bank of Platteville is only eight basis points lower at 3.02% on a two year term. Two banks, American Bank and Trust and Bank of Sun Prairie, have interest rates of 3.00%. American Bank and Trust is on a 21 month terms and Bank of Sun Prairie is on a two year term. Bank of Lake Mills is next up with a two year CD rate of 2.90% that matches the best national rate promoted by Ally Bank, the recently renamed GMAC Bank.
The best five year CD rates in Wisconsin lost some ground with a little lower rate on the highest CD rate and less depth of offerings for bank CDs just below this rate. The highest CD rate in for the five year term is now being marketed by Foundations Bank at 3.75%, which is down from last weeks high of 3.79%. In second place is the five year CD from Bank of Oakfield that yields 3.65%. Two basis points lower is First National Bank of Platteville’s five year CD with an interest rate of 3.63%. Badger State Bank is next with a five year CD rate of 3.53%. And the list comes to an end with the 3.50% CDs of US Bank and Bank of Sun Prairie.
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