CD interest rates were unchanged, on average, for the week ending August 17, 2012.  The average CD rate covering all CD maturities found in the weekly national CD rate survey was unaltered at 1.046 percent.  While the average CD rate did not move over the course of the week, the top bank CD rates in the survey showed some fluctuations among the various maturities.

The rates on bank CDs with a three month term displayed no change in the average rate this week.  The best six month CD rates however, experienced a gain in yield.  Unfortunately, the longer term bank CD rates gave up yield on the week with the one year CD rates, two year CD rates and five year CD rates all ending the week down modestly.

The best three month CD rates had an average rate of 0.491 percent, the same rate revealed in the previous week’s survey.  The best six month CD rates in the current survey had an average rate of 0.778 percent, an increase of 1.7 basis points or 0.017 percent above the average rate in the prior weekly survey results of 0.761 percent.

The rate on the one year CDs and those terms greater in length is where decline in yield began. The average one year CD rate in the survey dropped down by 1.2 basis points which pushed the average rate on the top ten best one year CD rates to 1.041 percent from 1.053 percent.  Two year CD rates gave up just one basis point bringing the average rate down to 1.171 percent.  The rate on the top five year bank CDs was down by two basis points which pushed the average interest rate to 1.750 percent.

The highest three month CD rate was unchanged at 0.66 percent.  The best three month CD available nationally continues to come from EverBank.  Among the six month maturities, the best bank rate is now the product of Doral Bank Direct.  The Doral Bank Direct six month CD rate leads the pack at 0.93 percent.

Two banks offer the same yield on the one year CDs to share the best rate for this term.   The CIT Bank CD with a one year term and the one year Bank of Internet CD both have interest rates at 1.10 percent.  CIT Bank also offers the highest CD rate in the two year term category.  The CIT Bank two year CD has an interest rate of 1.25 percent to top the list.  State Bank of India has the best five year CD with a yield of 1.81 percent.

To find more information on the highest CD rates by maturity for the August 17, 2012 CD rate survey please see the following CD rate tables at  three month CD ratessix month CD ratesone year CD rates, two year CD rates and five year CD rates.

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