Five Year CD Rates for the week ending June 19, 2009

June 23, 2009 - PRLog -- Interest rates on bank CDs have been dropping steadily for several weeks, this week there was an exception found in the five year maturities.  Nationwide, the average for the best five year CD rates increased by six basis points or 6/100 of a percent to end at 3.61%.  

Although the average of the highest five year CD rates moved up, the overall best five year CD rate was unchanged for the week.  Acacia Federal Savings Bank of Falls Church, Virginia offers a five year CD that yields 3.80% to hold the top spot.  Dime Direct jumped onto the list of the top ten bank rates with a new promotion for a five year CD that yields 3.75%.  Following this bank rate are the CD promotions of three different U.S. banks that have five year CD rates at 3.65%.  Tennessee Commerce Bank, One West Bank and State Bank of India have five year CDs at the rate of 3.65%.

Third Federal Savings also reaches the list for the first time with a five year CD that yields 3.50%.  Third Federal serves customers via the internet as well as from 23 full service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 15 full service branches throughout Florida.  As of March 31, 2009, Third Federal had total assets of $10.8 billion.  In addition to Third Federal, iGOBanking and Discover Bank also offer five year CD rates at 3.50%.  

Goldwater Bank based in Arizona and Intervest National Bank of New York are the remaining banks in the top ten list for five year CDs.  Goldwater Bank markets a five year CD at 3.51% while Intervest has a slightly higher rate of 3.62% on their certificate of deposit.  Both interest rates are unchanged from the prior week.

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.

# # #

SelectRates Media, Inc. of Naperville Illinois owns and operates http://www.selectCDrates.com along with http://www.bestcreditcardrates.com, http://www.selectautorates.com, http://findlocalmortgagerates.com and http://www.selectcalculators.com.