Interest Rate Roundup
National CD rates for June 10, 2010

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


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, 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


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