National CD rates for Oct. 14, 2010

Interest Rate Roundup
CD rate graph


  • 0.55% (1-year CD yields)
  • 1.63% (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 Oct. 13, 2010.

CD rates experienced another drop this week.

The average one-year CD yield is 0.55 percent, down 1 basis point from last week. The five-year CD yield fell 3 basis points to 1.63 percent.

For a deposit of $100,000 or more, the average one-year jumbo CD yield is 0.6 percent for the second week in a row. The five-year yield is down 3 basis points to 1.63 percent.

The typical money market account yield remains 0.19 percent for the sixth week.

Consumers may be losing money in the one place they expect to keep it safe: in their savings account.

A Bankrate story, "The hidden cost of savings accounts," reports that some banks charge as much as $25 annual fees and monthly minimum balance fees of $4 to $10. For banking customers struggling to save every penny, that can add up.

Be aware of fees and penalties before you sign up for an account, and don't be afraid to ask them to waive a fee. The worst that may happen is they'll say no.

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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