Two Year CD Rates for the Week Ending July 3, 2009 from SelectCDrates.com

July 7, 2009 - PRLog -- The steady decrease in yields on CDs for most term this week was interrupted by the slight increase in the mid term, two year CD rate.  According to the results of the weekly CD rate survey performed by SelectCDrates.com, the average of the best two year CD rates stood at 2.51%, an increase of three basis points or 3/100 of a percent for the week.

Despite the combined one, two punch of comments from the Fed on the outlook for low inflation and most bank CD rates moving lower, two year CD rates managed to rise for the week ending July 3, 2009.  

For investors that are not so sure about the direction of interest rates or the stability of alternative investments the two year CD is a practical portfolio choice.  Fortunately, the yield on these term CDs squeezed out a small gain to end the week.

Though the averages managed to gain on the yield for the week, the top two year CD rate remained unchanged.  The best two year CD rate is available at Tennessee Commerce Bank which has continued to offer a two year certificate that yields 2.65%.  The next best rate comes from State Bank of India which increased the rate on the two year certificate of deposit to 2.63%.  From this point, rates slip quickly.  

The third highest rate on a two year CD falls to 2.50%.  Four banks offer the two year CD at 2.50% including; Discover Bank, Intervest National Bank, La Jolla Bank and TriState Capital Bank.  E-Loan follows these financial institutions with a two year CD at 2.47%.  Two basis pints beneath this rate are the CDs of Acacia Federal Savings Bank and One West Bank which yield 2.45%.  The top ten two year CD rates conclude with the 2.41% offer from AIG Bank.

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.

# # #

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