National CD rates for July 29, 2010

Interest Rate Roundup
CD rate graph


  • 0.67% (1-year CD yields)
  • 1.99% (5-year CD yields)

Here's a look at the state of CD rates from's weekly national survey of large banks and thrifts conducted July 28, 2010.

CD rates were a mixed bag this week, with some going up, some going down and some going nowhere.

The average one-year CD yield hit a new record low, losing 1 basis point to 0.67 percent. Bankrate began tracking one-year CD rates in October 1983, and it's never been lower than today's rate, or the rates over the past year, in fact.

The previous low was 1.04 percent in July 2003.

The average five-year CD yield gained 1basis point to 1.99 percent.

The average one-year jumbo CD also shed a basis point this week, coming in at 0.71 percent. The five-year CD yield remained 1.96 percent.

The average money market account yield is still 0.21 percent for the sixth week in a row.

On Sunday, the Orlando Sentinel ran a story by Richard Burnett, "Super money-market accounts: A new option." According to the story, in an effort to attract deposits, some banks have come up with variable rate money market accounts that essentially offer a higher rate of return than the average money market account.

The only potential downside of the high-yield money market accounts is that the rates may be temporary. But if you're looking for a place to park your cash, these accounts may work for you.

For some of the best returns available across the country, check Bankrate's high-yield CDs and high-yield money market account tables.

All deposit products listed with Bankrate are FDIC-insured.

-- Sheyna Steiner




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