Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted March 17, 2010.
CDsYields: 0.72 percent (1-year CD yield); 2.12 percent (5-year CD yield)
Yields on 12-month CDs slipped a bit in this week's interest rate survey.
The yield on the average one-year CD lost 1 basis point to 0.72 percent. The average five-year CD yield remained at 2.12 percent.
The average jumbo one-year CD lost 2 basis points to 0.77 percent. The five-year jumbo CD held tight to a yield of 2.11 percent.
The average yield on money market accounts is still 0.23 percent.
Aggrieved consumers abused by big banks and Wall Street can finally breathe a sigh of relief. Details of Sen. Chris Dodd's, D-Conn., bill for financial reform emerged this week, and it appears likely that a Consumer Financial Protection Agency will be established. Reuters reported Tuesday that the reform bill also includes provisions for controlling over-the-counter derivatives as well as limiting banks from engaging in risky trading.
The House of Representatives passed a bill in December to establish an independent financial watchdog.
Check Bankrate's high-yield CDs and high-yield money market account tables for some of the best returns available nationwide.
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-- Sheyna Steiner