Five year certificate of deposit yields were down modestly in this week’s bank rate survey of the five year term bank CDs. The average rate for the top ten best five year CD rates declined by one basis point or 1/100 of a percent on the week. The average of the top five year CDs is currently yielding 3.29%, off from last week’s average yield of 3.30%.
The highest five year CD rate available nationally remained constant for the week. The best five year CD rate held at 3.55%, this rate is a product of iGOBanking. The second best rate drops off quite a distance from the rate leader. EverBank offers a five year CD that has an interest rate that is 19 basis points below iGOBanking at 3.36%.
The third highest five year rate is shared by two banks. Acacia Federal Savings Bank and One West Bank promote five year certificates that yield 3.30%. Running four basis points behind these two banks is the five year CD from UFB Direct that has an interest rate of 3.26%.
Two banks start off the second half of the list with rate at 3.25%. Both, Dime Direct and Atlantic Coast Bank, promote five year CDs that have rates at 3.25%. National Bank of Kansas City follows with a five year rate of 3.22%. First Internet Bank and Discover Bank are the two remaining banks on the list, each bank offering an interest rate of 3.20% on their five year CDs.
Only two banks reduced their five year CD interest rates from the previous week. State Bank of India and Ever Bank dropped their rates for the week, with State Bank of India dropping off the list due to the rate drop. State bank of India was replaced by Discover Bank.
Though the five year term bank CDs showed relatively little volatility on the national level, the state five year rates showed greater volatility. Many of the state bank rates exceed those found among the top national bank rates.
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- Six Month CD Rates December 11, 2009
- Money Market Account Rates February 8, 2010
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- Bank Money Market Rates January 11, 2010
