CD Rates in California for the week of Aug 7, 2009

Aug. 13, 2009 - PRLog -- Selectcdrates.com announced the results of its survey for the best CD rates in California for the week ending August 7, 2009.  

SelectCDrates.com weekly CD rate survey evaluates the best bank CD rates available in California for 6 month CD rates, 1 year CD rates, 2 year CD rates as well as 5 year CD rates available in California.  This report is enhanced with a weekly rate survey on the best bank CD rates in the top 20 states as well as the best national CD rates.

As with most the vast majority of bank rates, California CD rates moved lower for the week ending August 7, 2009.  CD rates in California have been steadily moving closer to the national averages for the highest or best CD rates throughout the year.  

The average of the best six month CD rates in California has now dropped down to 1.95%.  This remains above the best CD rates available nationally with a six month term that averages 1.76% but is a narrower spread than in previous weeks.  The best six month CD rate in California comes from United Commercial Bank which offers a promotional 8 month CD with an interest rate of 2.08%.  American Plus Bank has a six month term CD that is six basis points lower at 2.02%.  This is followed by United Central Bank which has a six month CD rate in California at 2.00%.  

The best one year CD rate in California is also found at United Commercial Bank.  United Commercial Bank has a one year CD rate that yields 2.28%.  This California CD rate surpasses the best national one year CD rate by 12 basis points.  American Plus Bank and United Central Bank are all very competitive for this term bank CD as well with CD rates that are within three basis points of the category leader.

Two banks in California share the top spot for the best two year California CD rates.  Broadway Federal Bank and American Plus Bank promote two year CD rates at 2.53%.  Eloan is the national rate leader and lags behind these two financial institutions by six basis points.

The five year CD rate leader in the Golden State is at Citibank.  Citibank’s online CD for a five year term is currently at 4.00% in California.  The next best five year CD rate in California comes from the sixth largest bank in the U.S, US Bank.  US Bank is once again promoting their 59 month CD with an interest at 3.50%.  


Selectrates.com is part of a network of personal finance web sites published by SelectRates Media, Inc.  Web sites published by SelectRates Media, Inc. include http://www.selectcdrates.com, http://www.bestcreditcardrates.com, http://www.findlocalmortgagerates.com and http://www.selectautorates.com.

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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.