National CD rates for May 12, 2011

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  • 0.45% (1-year CD yields)
  • 1.71% (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 May 11, 2011.

In this week's survey, CD rates fell for shorter-term CDs maturing in one year and under.

The average one-year CD yield fell 1 basis point to 0.45 percent. The yield on the typical five-year CD is unchanged at 1.71 percent.

For deposits of about $100,000, the average one-year jumbo CD yield fell 1 basis point to 0.5 percent. The five-year jumbo CD yield remains 1.73 percent.

The average money market account yield is unchanged at 0.17 percent.

Bank fees are rising these days, and checking accounts are not the only products being affected. CD early-withdrawal penalties are also on the move.

In the CD rates blog, Claes Bell reported on the increase in penalties at Bank of America. At a flat $25 plus 1 percent for terms under 12 months and $25 plus 3 percent for longer terms, the new fees would easily outstrip any interest earned and dip into principal.

All deposit products listed with Bankrate are FDIC-insured.

Read more at Bankrate's new blog for CD investors, the CD rates blog.

-- Sheyna Steiner




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