CD interest rates pulled off a small increase in yield for the week ending June 15, 2012.  The average yield coming from the top ten highest CD rates in the Selectcdrates.com CD rate index increased by 4/1000ths of a percent for the week.  The CD rates index averages the ten highest CD rates available nationally for three month term CDs, six month CDs, one year CDs, two year CDs and five year CDs.

The top ten best CD rates across the assortment of maturities in the index rose to 1.048 from 1.044 percent found in the previous weekly CD rate survey.  Rate increases were seen in the six month maturities, two year maturities and five year maturities.  The average rate on the top ten best three month CDs moved lower while the average yield on the top one year CD rates was unchanged over the course of the week.

For certificates of deposit with a three month term, the average interest rate dipped down by 1.1 basis points.  One basis point is equal to 1/100th of a percent.  The average rate on the top ten bet three month CD rates slid down to 0.472 percent from 0.483 percent in the previous week.  The best three month rate remains at E-Loan which offers the short term certificate with an interest rate of 0.65 percent.

The average six month CD interest rate increased by 1.9 basis points.  The average rate coming form the highest six month rates jumped to 0.770 percent from 0.751 in the week earlier.  Ascencia promotes the highest six month CD rate at 0.90 percent. 

Rates on one year certificates of deposit were unchanged in this week’s survey.  The average one year CD yield remains at 1.048 percent.  Doral Bank Direct has the highest one year CD with a rate of 1.15 percent.

For two year CD rates, the average yield experienced a minor push higher.  The average two year CD yield was up by .4 basis points or 4/1000ths of a percent.  The average rate on the top ten best two year CD rates now sits at 1.177 percent from 1.173 percent in the previous week.  CIT Bank and Barclays Bank are the two year CD leaders, both bank market the two year certificate with yields at 1.25 percent.

Longer term rates on certificates of deposit, five year term CDs, were also marginally higher in this week’s rate survey.  The five year CD rate is up .6 basis points, rising to 1.773 percent from the prior week’s average rate of 1.767 percent.  State Bank of India continues the hold the top positions with a five year CD rate of 1.91 percent.

To find more information on the highest CD rates by maturity for the June 15, 2012 CD rate survey please see the following CD rate tables at Selectcdrates.com: three month CD ratessix month CD ratesone year CD rates, two year CD rates and five year CD rates.

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