Interest Rate Roundup
National CD rates

Here's a look at the state of CD rates from's weekly national survey of large banks and thrifts conducted March 10, 2010.


Yields: 0.73 percent (1-year CD yield); 2.12 percent (5-year CD yield)

CD yields slipped a bit in the rate survey for the second week of March. The average one-year CD yield is now 0.73 percent; the average five-year CD will yield 2.12 percent. Both are down 1 basis point from last week.

For the big savers with $100,000, the average yield on a one-year jumbo CD is down 1 basis point to 0.79 percent. The average yield on a five-year jumbo CD is down 2 basis points, to 2.11 percent.

The average yield on money market accounts remains 0.23 percent.

Bank of America announced on Wednesday that as of this summer customers will no longer have to worry about overdrawing their accounts with debit-card purchases because the bank will no longer pay for transactions that would put their account in the negative and incur a hefty fee -- unless their account is tied to another one with overdraft protection.

This summer is also when new regulations go into effect requiring banks to obtain customers' approval, or get them to opt in, before providing standard overdraft protection on debit card purchases and ATM withdrawals.

Bank of America customers will still be able to choose to overdraw their account with account-linked overdraft protection or through a Bank of America ATM, where they will be told the transaction will overdraw their account and they must agree to the fee.

Check Bankrate's high-yield CDs and high-yield money market account tables for some of the best returns available nationwide.

All deposit products listed with Bankrate are FDIC-insured.

See all CD rates content.

-- Sheyna Steiner


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