The Best CD Rates in Florida for June 5, 2009

PR Log (Press Release) – Jun 10, 2009 – CD rates in Florida were modestly lower for the week of June 5, 2009.  The six month CD rates made a fairly substantial drop off, declining 15 basis points or 15/100 of a percent for the week to end at 2.26%.  This drop was almost entirely do to the elimination of one bank’s promotional CD rate and the reduction in another top bank rate.  The highest six month CD rate, at 2.60% from Atlantic Southern Bank, remains above the best national rates.  The next best six month CD rate, 2.50% from Bank Premier, surpasses the vast majority of six month CD rates available in other regions.

The best one year CD rates in Florida fell for the week from last weeks average of 2.51% to 2.49%.  Since this week experienced some substantial reductions in the national bank rates, the highest two year CD rates in Florida continue to beat the national rates.  The best two year CD rate continues to come from Atlantic Southern Bank with an interest rate of 2.85%.  Urban Bank Trust also beats the national rates with a one year CD rate of 2.75%.

The best two year CD rates increased for the week from a start of 2.82% to end the week at 2.85%.  The highest two year CD rates were predominantly unchanged; the increase in the averages came from added depth to the list.  The best two year CD rate remains with Heritage Bank of Florida at 3.05%.  First City Bank’s two year CD is five basis points lower at 3.00%.  Both of these top bank rates continue to beat the best national rates.

Florida CD rates with a five year term continue to shine and outpace the best national rates as well as other regional rates.  For the week, the average of the best five year CD rates remained unchanged at 3.87%.  Urban Trust Bank continues to promote their five year CD rate of 4.50%, well above the national rates and regional rates.  The next best two year CD rate is at 4.00% and is available at First City Bank and Fidelity Bank of Florida.  Finding a 4.00% yield, even with rising Treasury rates, in bank CDs is a difficult chore in this market.

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.