Here's a look at the state of CD rates from Bankrate.com's weekly national survey of large banks and thrifts conducted May 5, 2010.
CDs
Yields: 0.71 percent (1-year CD yield); 2.13 percent (5-year CD yield)CD rates continue to stagnate, though there was some slight change in this week's rate survey.
The average one-year CD yield remained at 0.71 percent for the third week in a row. The average five-year yield fell 1 basis point to 2.13 percent.
On the jumbo side, the yield on the average one-year CD remained at 0.76 percent for the third week in a row. The five-year yield lost one basis point to come in at 2.12 percent.
A basis point is one-one hundredth of a percent.
The average yield on money market accounts according to the Bankrate survey is still 0.23 percent.
On April 30, the FDIC issued a warning to consumers about an e-mail scam purporting to be from the government agency. The scam e-mail arrives with the subject line, "Just for your time" and directs consumers to a website where they can take a survey and receive a credit to their account for $50 -- all consumers need to do is answer five questions and leave their account number.
The FDIC stresses that financial institutions and consumers should not follow the link in the e-mail.
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.
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If you're in the market for a new CD, use the Bankrate CD calculator to compute your earnings.
-- Sheyna Steiner