The average for the top yielding two year CD rates in the U.S. eased down once again for the week ending June 19, 2009. The average of the best two year CD rates available nationally dropped by five basis points or 5/100 of a percent to end the week at 2.56%.
The highest two year CD rate remained unchanged at 2.87% while the lowest rate moved down by ten basis points to 2.40%, widening the difference between the top rate and the average for the week.
The best two year CD rate is the product of Tennessee Commerce Bank which offers the 2.87% interest rate. State Bank of India is a close second with an interest rate of 2.84% on their two year certificate of deposit. Bank CD rates make a sizeable drop down with the next best rate coming from Discover Bank at 2.65%. Yet one more measurable step down finds the next best bank rate at 2.50%. Three banks offer a two year CD with the interest rate of 2.50% including; Ally Bank, Intervest national Bank and La Jolla Bank. Four basis points below this trio is the two year CD of AIG Bank that earns a rate of 2.46%. Acacia Federal Savings Bank of Falls Church Virginia has a two year CD rate only one basis point lower at 2.45%. The top ten two year CD rates conclude with NewDominion Bank and CalFirst Bank, both banks offering two year CD rates of 2.40%.
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. Sister sites include http://www.bestcreditcardrates.com and http://findlocalmortgagerates.com.
