Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted June 2, 2010.
CDsYields: 0.7 percent (1-year CD yield); 2.06 percent (5-year CD yield)
Once again CD rates showed very little change in the weekly interest rate survey, save for the five-year maturities, which fell for the second week in a row.
According to the Bankrate researchers, the average yield on a one-year CD is still at an all-time low in Bankrate history, at 0.7 percent. The yield on the average five-year CD is down 2 basis points to 2.06 percent.
For jumbo CDs, available for deposits of about $100,000, the average one-year yield is 0.75 percent and the five-year yield is down 2 basis points to 2.05 percent.
If you're new to CD investing or just want to brush up on your CD knowledge, check out Bankrate's investing basics. You can learn almost everything you need to know about CD investing strategies and the advantages and disadvantages of different types of CDs.
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