- 0.51% (1-year CD yields)
- 1.52% (5-year CD yields)
Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Dec. 1, 2010.
For the second week in a row, CD rates did not go down. Instead, all CD terms are unchanged from last week.
The average yield on a one-year CD is 0.51 percent and the yield on a five-year CD is 1.52 percent.
For jumbo CDs, or deposits of about $100,000, the average one-year yield is 0.56 percent. The five-year jumbo CD yield is 1.53 percent.
Last Wednesday, American Banker reported that the Federal Deposit Insurance Corp. was finalizing new overdraft guidelines based on the rules put in place this summer by the Federal Reserve Board. The aim of the guidelines is to keep banking customers from using overdraft services too frequently. As a result, the new guidelines require banks to keep a tighter watch over automated overdraft programs and contact customers "who overdraw an account more than six times in a year," American Banker reported.
Customers who do overdraw their account more than six times should be offered lower-cost services, such as a personal loan or the chance to get out of fee-based overdraft protection services.
The new guidelines also suggest a dollar-amount cap on overdraft fees charged in a day or a limit on the number of transactions charged an overdraft fee.
Check Bankrate's rate tables for high-yield CDs and high-yield money market accounts.
All deposit products listed with Bankrate are FDIC-insured.-- Sheyna Steiner