CD rates in Florida moved lower along with the national rates this week. The average of the best CD rates in Florida remain above the national averages, however that spread is narrowing.
The average of the best 6 month CD rates in Florida now stands at 2.01%. This average includes the highest CD rate in Florida for this term category that has a nine month maturity. Without that outlier, the average for the highest 6 month CD rates drops to 1.93% which remains the above the national averages by seven basis points or 7/100 of a percent.
The best one year CD rate in Florida average shrank to 2.35% to close the week, measurably higher than the national average CD rates for that term of 2.07%. The two year CD rate average in Florida has stabilized at 2.59% while the best five year CD rates in Florida now sit at 3.54%.
The six month term CDs was led by the nine month term CD of Peoples National Bank which offers an exceptional 2.40% with a minimum $10,000.00 balance. The best one year CD rates and two year CD rates in Florida are dominated by a Georgia bank with a location in Jacksonville. Atlantic Southern Bank has a 13 month promotional CD rate at 2.55% as well as a 23 month CD with an interest rate of 2.80% to lead both categories.
The best Florida CD rate with five year term is promoted by Fidelity Bank of Florida. Fidelity Bank markets a five year CD rate of 3.75% with a minimum deposit of $10,000.00. Fidelity Bank has locations in Merritt Island, Longwood and Port Richey. Beneath this offer, there are more than a few banks in Florida with rates at 3.50% that can be found with locations across the state.
