CD rates in California ended the week with a split decision. The six month and one year CD rates retreated for the week while the two year and five year CD rates gained on yield. The average for the best six month CD rates fell from 2.31% to 2.28% for the week. Even with the reduction in the average, there a few stand opportunities for short term CD rate investments in California. The highest CD rate is a nine month term CD from Plaza Bank that has a yield of 2.55%. The next best six month CD rate is the reigning national leader, Wilshire State Bank, with an interest rate of 2.52%.
The average for the best one year CD rates in California dropped from 2.57% to 2.53%. The highest one year CD rate is at Plaza Bank with a rate of 2.65%, this interest rate is two basis points above the best national rate. The next best one year CD rate is available at two banks, American Plus Bank and Hanmi Bank, and yields a rate of 2.53%.
Two year CD rates in California climbed by five basis points with average ending the week at 2.69%. The best two year CD rate increased five basis points to 2.85%. The top rate is available at Kaiser Federal Bank. First Republic Bank falls to second position with a two year CD rate set at 2.80%.
Five year CD rates in California also gained ground for the week rising from an average of 3.39% last week to 3.46% for the week ending June 5, 2009. The best five year CD rate remains unchanged at 3.75% and is marketed by First Republic Bank. The second CD rate drops measurably to 3.56% and is the product of Broadway Federal Bank.
SelectCDrates.com is the leading industry tool for selecting the best CD rates. SelectCDrates.com provides bank rate data on banks locally and nationally to help consumers quickly find the best rates to fit their needs. Selectcdrates.com publishes two bank certificate of deposit rate tables each week as well as weekly rate tables for bank money market accounts and bank savings accounts. The certificates of deposit tables are compiled weekly to find the highest yielding CDs available nationally and in the top 20 largest states. To view the results from Selectcdrates.com tables visit http://www.selectcdrates.com.
