In the most recent survey of bank CD rates conducted by, CD rates slumped slightly compounding last week’s similar dip.  The average yield on the CD rate index moved down to 1.081 percent from an average rate of 1.087 percent found in the previous rate survey.  The index covers the top ten best CD rates with maturities of three months, six months, one year, two years and five years.

Last week was chock full of economic news, all of which appeared to show little impact on CD interest rates.  The government reported Gross Domestic Product results for the 4th quarter of 2011 that at first look appeared to be relatively strong at 2.8%.  The analysis discredited the number by revealing a significant portion of the gain was due to an increase in business inventories.  European debt worries and possibility of a deal with a forced – voluntary reduction in Greece debt is never ending story.  On top of that, stock prices moved lower for the first time in quite some time.  

The average rate for the top ten three month CDs inched up by .5 basis points this week, that’s just 5/1000ths of a percent.  The average three month rate increased to 0.488 percent from 0.483 percent in the previous week.  The top three month CD continues to be the products of Virtual Bank and Hudson City Savings Bank at an interest rate of 0.60 percent.  The next highest rate is also unchanged at 0.51 percent and can be obtained at Beal Bank as well as

For the third straight week, the average rate on the top ten highest six month CD rates was unchanged.  The average for this maturity has held once again at 0.770 percent. The best overall rate on a six month CD is available at AloStar Bank of Commerce with an interest rate of 0.85 percent.  The next best rate comes from Stonebridge Bank and Virtual Bank, both banks offering a six month CD with an interest rate of 0.80 percent.

The best one year CD rates showed little change but did move lower by .5 basis points, pushing the average yield for this term to 1.048 percent from 1.053 percent in the prior week.   The three highest rates available nationally were not altered over the week.  The highest rate is at Doral Bank where a one year CD rate is 1.15 percent.  Beal Bank follows with a one year CD rate of 1.10 percent.  And the runner up is CIT Bank with a one year certificate yielding 1.08 percent.

The two year CD maturities gave up almost one basis point this week.  The average rate on the top ten best two year CDs slipped from 1.224 percent last week to 1.215 percent in the current survey.   American Express Bank’s two year CD still holds the top rate at 1.30 percent.  Nipping at Am Ex is CIT Bank with a two year CD rate of 1.26 percent and only one basis point below that rate is the two year certificate coming from Ultima Bank with a yield of 1.25 percent.

Five year CD rates were down again, taking almost two basis points off the average yields.  The rate for the top highest five year CD rates now sits at 1.885 percent.  The best five year rate is at State Bank of India with a rate of 2.02 percent.  Next up is the five year CD at OnBank with a yield of 1.95 percent.  The third highest five year bank CD is at Intervest national Bank which promoted this term CD with an interest rate of 1.92 percent.

To find more information on the best CD rates by maturity for the January 30, 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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