Interest rates on six month term certificates of deposit showed now signs of reversing their slide this week. The average of the best six month CD rates dropped another seven basis points or 7/100 of a percent for the week ending June 19, 209. The average of the best six month CD rates available nationally is now at its lowest point in the past three months.
Not only is the average for these bank rates down again but the spread between the highest and lowest CD rates within the category has narrowed measurably. The difference between the highest six month CD rate and the lowest is only 15 basis points, leaving a limited selection of rates to choose since the majority of the certificates have similar yields.
The best six month CD rate is at FirstFedDirect which offers a six month CD with an interest rate of 2.05%. FirstFedDirect is the online division of First Federal Bank of California. The next best six month rate drops down to 2.00% and is available at UFB Direct as well as La Jolla Bank. Wilshire Bank, which was the reigning champ in this CD term for last two weeks with a noticeably high 2.52% rate has reduced their yield to 1.96%. Ascencia, Corus Bank and The Palladian Private Bank all promote six month CDs that earn interest rate at 1.95%. State Bank of India is offering a six month at 1.92%. The clean up crew for this term is comprised of Ally Bank and NewDominion Bank, both banks marketing six month CD rates of 1.90%.
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 achieves the goal of publishing the best rate information by searching for the highest bank rates with web crawlers, telephone surveys and local market research. SelectCDrates.com staff provides current statistics on economics news that impacts the bank and credit markets as well as in depth articles on bank products and services. To view all the bank CD rates and articles visit http://www.selectcdrates.com.
