Long-Term CD Rates Continue to Rise at E-LOAN

E-LOAN raised its CD rates today by 9 to 15 basis points for all terms of 18 months and longer. The 60-month CD yield has once again reached 5.00% APY. The last time E-LOAN's 60-month CD yield had been 5% was in early December 2007. Long-term CD rates have been steadily increasing for the past two months. However, short-term rates haven't changed much. You can definitely see the expectations of higher future rates.

Below is the full list of E-LOAN's new CD yields. To highlight how rates have changed recently and in the past two months, I've included the old May rates and the rates from last week.

New and old certificate of deposit yields as of 6/24/08

CD TERM     OLD APY     NEW APY    CHANGE
            6/17/08     6/24/08
1 month      2.81%       2.81%    -
2 month      2.85%       2.85%    -
3 month      3.30%       3.30%    -
6 month      3.61%       3.61%    -
9 month      3.65%       3.65%    -
12 month     3.91%       3.91%    -
18 month     4.01%       4.10%    +0.09
24 month     4.16%       4.25%    +0.09
36 month     4.31%       4.45%    +0.14
48 month     4.60%       4.71%    +0.11
60 month     4.85%       5.00%    +0.15
72 month     5.00%       5.10%    +0.10


CD TERM     OLD APY     NEW APY    CHANGE
            Early May   6/24/08
3 month      3.30%       3.30%    -
6 month      3.50%       3.61%    +0.11
12 month     3.65%       3.91%    +0.26
18 month     3.75%       4.10%    +0.35
24 month     3.81%       4.25%    +0.44
36 month     4.10%       4.45%    +0.35
48 month     4.25%       4.71%    +0.44
60 month     4.60%       5.00%    +0.40

For more details about E-LOAN's CDs, please refer to my April 30th E-LOAN CD post.

For more details about E-LOAN's savings account and its 3.75% promotion, please refer to this post.

E-LOAN is a subsidiary of Banco Popular North America (BPNA), a New York state chartered bank. E-LOAN's deposit products are insured by the FDIC through BPNA (FDIC Certificate # 34967). BPNA has a 3 star rating (adequate) at BauerFinancial based on 3/31/08 data.

Tags: CD rates, E-LOAN.com