The Web's leading interest rate aggregating website, www.GoBankingRates.com, investigates the interest rates from local banks and credit unions in Maine as part of their "Best Interest Rates in Every State Series." The new report shows that when ranked against the rest of the United States, Maine's deposit rates are significantly lower, falling below the national average for 6-month, 1-year and 2-year CD rates, and 49th out of 50 for savings accounts.
El Segundo, CA, January 24, 2013 -- Go Banking Rates continues its "Best Rates in Every State" series by shining the spotlight on banks and credit unions in Maine. The interest rate aggregating website compared Maine's average rates on savings accounts, 6-month CDs, 1-year CDs and 2-year CDs against the national averages, and ranked the state against the rest of the U.S. for each deposit product.
According to the rankings compiled by Go Banking Rates, using its database of interest rates from more than 4,000 U.S. banks and credit unions, Maine's standings are as follows:
6-Month CD: 33rd
1-Year CD: 41st
2-Year CD: 28th
Savings Account: 49th
While Maine's average deposit account interest rates are far from impressive, the study does identify the local institutions in the state offering the most competitive rates in the state. Go Banking Rates provides the names of banks and credit unions in Maine offering the top 10 highest interest rates in each deposit account category, so that residents concerned with increasing their returns know which institutions currently offer the highest yields on balances.
To see the full report, click here.
About Go Banking Rates
GoBankingRates.com is a national personal finance website dedicated to connecting readers with the best interest rates on bank products nationwide. The Go Banking Rates team manually collects interest rate information from over 4,000 banks and credit unions, making their database the only source of comprehensive and authentic local rate data.
GoBankingRates.com is the national flagship site within a network of more than 1,500 banking domains, including local partner site www.MaineBankingRates.com, which generate more than 2 million visits each month. Maine Banking Rates is a locally-focused website dedicated to connecting Maine readers with the best interest rates in the state on Certificates of Deposits, Savings Accounts, Auto Loans, Mortgages and more.