Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Dec. 9, 2009.
CDs
Yields: 0.83 percent (1-year CD yield); 2.17 percent (5-year CD yield)One-year Treasuries are paying 0.21 percent. OK, now this week's CD rates will seem pretty decent by comparison. The average one-year CD yield, which toppled 4 basis points since last week, is 0.83 percent. Even paying full taxes, 0.83 percent beats 0.21 percent any day.
The five-year average CD yield, as surveyed by Bankrate, is 2.17 percent, down 1 basis point. The five-year Treasury is paying 2.01 percent.
On the jumbo side, the one-year average yield is 0.91 percent, off 4 basis points from last week; and the five-year average is down 1 basis point to 2.19 percent.
Money market accounts fell 1 basis point to an average yield of 0.27 percent.
Yields are awful, yet deposits at FDIC-insured banks rose by $520 billion between June 30, 2008, and June 30, 2009, according to Dan Geller, executive vice president at Market Rates Insight.
Check Bankrate's 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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-- Laura Bruce