The Best CD Interest Rates Slip Again February 25, 2013

There was little change among the top CD rates available nationwide for the week ending February 22, 2013.  The recent survey of the best CD rates performed by SelectCDrates.com indicated that the average CD rate across multiple maturities was reduced by just 4/1000ths of a percent from the previous week.  The average CD rate in the SelectCDrates.com CD rate index dipped to 1.035 percent from 1.039 percent.  The CD rate index measures the top ten highest CD rates for three month term bank CDs, six month bank CDs, one year CDs, two year CDs and five year CDs.

The survey of the best nationally available CD rates showed two of the CD terms had average rates unchanged from the previous week and three maturities moved lower.  The greatest rate change took place in the short term, three month maturities.

The best three month CDs had shed 1.5 basis points over the week.  One basis point is equal to 1/100th of a percent.  The average rate on the top ten highest three month CDs fell to 0.465 percent from 0.480 percent in the week earlier.  The highest three month CD rate available comes from E-Loan which offers this CD term with an interest rate of 0.60 percent.

The rate on six month certificates was cut back by less than half as much as the shorter, three month terms.  Six month CD rates dropped by less than one basis point, 0.005 percent, settling down at 0.748 percent after starting out the week with an average rate of 0.753 percent.  Doral Bank Direct produces the top six month CD rate at 0.89 percent.

Yields on one year CDs were unchanged during this survey period.  The average rate on the highest one year CDs held at 1.037 percent.  The best one year CD rate comes from CSBdirect.com based in Florida.  The one year CD rate at CSBdirect.com is currently at 1.10 percent.

Two year CD rates barely budged.  The average two year CD yield trickled down to 1.187 percent from 1.189 percent in the previous bank CD rate survey.  The CSBdirect.com two year CD is the leader of the pack for this maturity with a certificate that earns a rate of 1.35 percent.

Five year CDs is the third maturity that was unchanged in the survey.  The rate on the top ten highest five year CD rates was held in place at 1.736 percent.  Two banks share the top spot on the long term maturities.  Green Bank and Barclays Bank USA both promote five year term CDs with yields at 1.85 percent.

To shop and compare the highest CD rates by maturity found in the February 22, 2013 CD rate survey please see the following CD rate tables: three month CD rates, six month CD rates, nine month CD rates, one year CD rates, two year CD rates, three year CD rates, four year CD rates and five year CD rates.

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