Our Best CD Rates for July 20, 2009 – New Banks on the List

With CD rates continuing to fall, Capitol Federal Bank slid off last week’s roster of banks with the highest CD rates, to be replaced by banks new to the list. Here’s a complete listing of banks with the top CD rates and their CD yields offered for this week:

6-month and 12-month CD rates

Not much change for these shorter term CDs with ADB Bank and Amboy Direct holding on to the top spots and their CD rates of 1.90% APY for the 6-month term and 2.35% for the 1-year CD.

24-month and 36-month CDs

As mentioned, Capitol Federal Bank, which held the best 24-month and 36-month CD rates last week, dropped off the list this week after it adjusted its CD rate offers by a few percentage points down. Replacing Capitol Federal Bank are newcomers E-Loan for the 2-yr CD, and newdominionDIRECT for the 3-yr CD.

The rates offered by these two banks however, are still lower than last week’s rates, with the top rate for the 24-month yield falling from 2.60% to 2.47%, and the 36-month CD rate making a slight drop from 3.05% to 3.01%. On the whole however, these rates are still much higher than the national rate average of the banks followed by My Bank Tracker.

48-month CDs

Intervest National Bank continues to offer the highest CD rate for the 48-month CD category, although its rate did plunge from last week’s 3.50% to 3.20% APY this week.

For more information on these banks and other financial institutions, check out our complete database of banks and their CD rates offered.

About the banks

 

ADB Bank

Allegiance Direct commenced business in June of 2001 as a finance company to provide commercial customers of insurance agencies the opportunity to finance their insurance premiums.

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Amboy Direct

Amboy Bancorporation is the holding company for Amboy National Bank, which serves consumers and businesses through about 25 branches in central New Jersey's Middlesex, Monmouth, Mercer, and Somerset counties.

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E-Loan

E-LOAN is a nationwide financial services company dedicated to providing consumers with a simple, easy and open way to obtain mortgage, auto loans, home equity loans, and online savings and certificate of deposit accounts.

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newdominionDIRECT

NewDominion is a niche financial services company providing expertise and enabling growth and success for customers. Offering specialized growth-oriented products, seasoned professional staff, and advanced technology, NewDominion helps businesses and individuals achieve their financial goals. Based on a philosophy that sharing resources and ideas benefits all, NewDominion strives to insure the mutual success of customers, investors, and employees.

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