Interest Rate Roundup
cds
National CD rates

Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted March 24, 2010.

CDs

Yields: 0.72 percent (1-year CD yield); 2.12 percent (5-year CD yield)

CD yields held their ground this week, with most maturities showing no change in the interest rate survey of the top banks around the country.

The yield on the average one-year CD is 0.72 percent. For a five-year CD, the average yield is 2.12 percent.

The jumbo side saw some slippage this week however, with the average one-year jumbo CD down 1 basis point to 0.77 percent. The average five-year jumbo CD lost 2 basis points this week, to 2.11 percent.

The average yield on money market accounts remains at 0.22 percent.

Check-writing will decline by 10 percent to 20 percent this year, according to PNC Financial Services Group CEO James E. Rohr. Rohr was quoted in a story Wednesday in The Pittsburgh Tribune-Review, from a speech given to finance professionals at an Economic Club of Pittsburgh luncheon.

While everyone eagerly awaits the end of check-writing in the supermarket express lane, electronic banking is growing -- expanding by 25 percent to 30 percent per year, according to Rohr.

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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Product Rate Change Last week
1 Year CD 0.90%  0.01 0.89%
2 Year CD 1.03%  0.02 1.01%
5 Year CD 1.59% --0.00 1.59%
 
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