Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted March 3, 2010.
Yields: 0.74 percent (1-year CD yield); 2.13 percent (5-year CD yield)
CD yields were a mixed bag in this week's survey. The average yield on a one-year CD sunk another basis point to 0.74 percent, while the average yield on a five-year CD gained 3 basis points to 2.13 percent.
The average yield on jumbo CDs is also up for the five-year maturity, picking up 4 basis points to 2.13 percent -- the same as the regular five-year CD. The average yield on a one-year jumbo CD remained 0.8 percent.
For money market accounts, the average yield is up 1 basis point to 0.23 percent.
On Tuesday, college lender Sallie Mae announced the launch of savings accounts and CDs geared for families saving for college. The new banking products will be offered through Sallie Mae Bank. The high-yield savings account sports a yield of 1.35 percent and the yield on a five-year CD is 3 percent.
Sallie Mae's savings account was engineered to be compatible with their Upromise program that allows families to earn cash-back rewards on some purchases.
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.
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-- Sheyna Steiner