Interest Rate Roundup
cds
National CD rates for June 10, 2010

Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted June 9, 2010.

CDs

Yields: 0.7 percent (1-year CD yield); 2.05 percent (5-year CD yield)

CD rates continued their incremental slide in this week's survey of banks and thrifts across the country.

The average yield on a one-year CD is still at the record low of 0.7 percent for the fourth week in a row. On a five-year CD, the average yield fell 1 basis point to 2.05 percent.

For a deposit of $100,000 or more, jumbo CDs usually offer slightly better yields. For the average one-year jumbo CD, the yield is still 0.74 percent, but for a longer maturity, $100,000 won't buy the yield it used to. The average five-year jumbo CD is down 1 basis point to 2.04 percent.

For the fourth week in a row, the typical money market yield is 0.22 percent.

If you're shopping for CDs, skip the big banks and hit up smaller banks and credit unions for higher yields. On June 9, CNNmoney.com ran a story called "Why big banks are cheapskates to savers," which answered that question.

Big banks pay less on CDs because they can; smaller banks need to attract customers and higher yields do just that.

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

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Partner Center
advertisement

Connect with us