California CD rates continued to adjust downward for the week ending June 19, 2009. The average rate on the best six month CD rates in California declined by a stunning 12 basis points or 12/100 of a percent. The six month CD rates averaged 2.09% this week, down from last week’s average of 2.21%. The one year CD rates in California fell by a third as much or by four basis points to end the week at 2.47%. Two year CD rates in California remained unchanged for the week, holding steady at an average rate of 2.69%. The average for the best California CD rates with a five year term was pushed down by four basis points for the week to end at 3.49%.
The best six month CD rates in California are in a very tight range. The highest six month rate is at 2.16% and comes from Mirae Bank. Only one basis point below this bank rate is the six month CD of United Central Bank with a yield of 2.15%. Vineyard Bank follows these two banks with a six month CD rate of 2.11%.
Two California banks lead off the best one year CD rates. Broadway Federal Bank and American Plus Bank both offer six month CD rates of 2.53%. Mirae Bank makes this term category as well with a one year CD that has an interest rate of 2.50%.
The two year CD rate category in California is led by Kaiser Federal Bank that promotes a two year CD with a rate of 2.85%. First Republic Bank has a two year CD five basis points lower in yield at 2.80%. The top three banks include American Plus Bank which offers a two year CD rate at 2.78%.
US Bank leads the list of California banks with the best five year CD rate. US Bank recently raised the interest rate on their 59 month promotional CD to 4.00% which easily leads for this maturity. One West Bank offers a five year CD promoted as online only that has an interest rate of 3.65%. Broadway Federal Bank and La Jolla Bank market competitively priced five year CDs with rates of 3.56% and 3.50%, respectively.
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