The Best 6 Month CD Rates for July 3, 2009 from SelectCDrates.com

July 7, 2009 - PRLog -- The average interest rate on the best six month bank CDs was down yet again for the week ending July 3, 2009.  Short term Treasury rates moved lower for the week as well with the three month Treasury rates ended the week at 0.17%, down three basis points from the prior week.  Low interest rates on the short term, six month maturity bank CDs, continues to be the norm.  CD rates for this maturity have struggled to move higher throughout the year, undoubtedly being hindered by the lack of higher yielding substitute investments.  

SelectCDrates.com weekly survey of the best bank rates indicated that the average for the best six month CD rates ended the week at 1.91% down two basis points or 2/100 of a percent from 1.93% for the previous week.  Fortunately, the highest six month CD rate was unchanged and still stands at 2.05%.  This rate can be found at FirstFedDirect.  FirstFedDirect is a division of First Federal Bank of California which was established to service Internet banking client relationships from all states other than California.

The recent survey by SelectCDrates showed that following the CD rate promoted by FirstFedDirect is the six month CD marketed by La Jolla Bank which is available at 2.00%.  The third highest six month CD rate comes from Wilshire State Bank at 1.96%.  One basis point below this rate this the six month CD at The Palladian Private Bank that has an interest rate of 1.95%.  UFB Direct, which has dropped their rates precipitously on the longer term CDs, holds the fourth best six month CD rate at 1.90%.  Rounding out the top five bank rates in this term is Ascencia Bank with a six month CD rate of 1.86%.

SelectCDrates.com is the leading industry tool for selecting the best CD rates. In addition to publishing the weekly tables on the best bank CD rates nationally and by state, selectcdrates.com provides current financial content on bank rates and savings rates. To view the results from Selectcdrates.com tables visit http://www.selectcdrates.com.  SelectRates Media, the publisher of selectcdrates.com also publishes http://www.bestcreditcardrates.com and http://findlocalmortgagerates.com.

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