CD interest rates were down by just a wee bit for the week ending October 12, 2012.  Based on the most recent survey of bank CD rates conducted by, the average rate found on the top ten CD rates measured by the CD rate index was off by just 1/1000th of a percent for the week.  The CD rate index dropped to 1.049 percent from 1.050 percent in the previous week.  The CD rate index measures the best CD rates for three month CDs, six month CDs, one year CDs, two year CDs and five year CDs available nationally.

The best three month CD rates, over the course of the week, were unchanged with average yield of 0.485 percent.  The highest yielding CD for this term comes from E-Loan CD rates which has a three month CD with 0.65 percent interest rate.

The top six month CD rates also displayed change in the average yield available.  The average rate for the top ten highest six month CD rates held at 0.772 percent. The best interest rate is available with Doral Bank Direct CD rates where the six month CD can be obtained with a rate of 0.92 percent.

Doral Bank Direct has the highest CD rate for the nine month maturity along with the six month.  The average rate among the top ten best nine month CDs ended the week at 0.796 percent.  The top rate at Doral Bank comes with an interest rate of 0.96 percent. 

The one year CD rates retreated modestly in the current survey.  The average rate for the best one year CD rates slipped to 1.057 percent from 1.058 percent in the week earlier.  The top yielding CD with a one year term is marketed by AloStar Bank of Commerce with an interest rate of 1.11 percent.  The next highest one year CD rate falls just one basis point back at 1.10 percent.  One year CD rates at 1.10 percent can be found at CIT Bank and Bank of Internet.

Two year CD rates showed a little more love for investors and savers and displayed a rate increase.  The average two year CD rate for the top ten highest available nationally, was boosted up to 1.189 percent from 1.185 percent the previous week.  The top dog in the two year term category is the bank CD from AloStar Bank of Commerce, the leader in the one year category as well.   AloStar Bank promotes the two year CD with a rate of 1.26 percent.  As with the one year certificates, the next best rate is just one basis point lower at 1.25 percent as is available at two different banks, CIT Bank and Barclays Bank.

Three year CD rates showed no change week over week.  The average rate for the top ten highest three year CDs has held at 1.331 percent.  CIT Bank CD rates have the highest yielding certificate for this term at 1.42 percent. 

The long term, five year CD rates took the biggest hit in the average yield this week.  The average interest rate on the top ten five year CD rates dropped to 1.741 percent from 1.748 percent in the prior week.  The highest yielding five year bank CD is at State Bank of India which offers the account with yield at 1.86 percent.

To find more information on the highest CD rates by maturity for the October 12, 2012 CD rate survey please see the following CD rate tables: three month CD ratessix month CD ratesnine month CD rates, one year CD rates, two year CD rates, three year CD rates and five year CD rates.

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