National CD rates for Oct. 7, 2010

Interest Rate Roundup
CD rate graph


  • 0.56% (1-year CD yields)
  • 1.66% (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. 6, 2010.

CD rates fell again in this week's rate survey.

The typical one-year CD yield is down 1 basis point to 0.56 percent, The five-year CD is down 2 basis points to 1.66 percent.

Jumbo CD rates also slipped; the average one-year jumbo CD yield dropped 3 basis points to 0.6 percent. The five-year yield fell 2 basis points to 1.66 percent.

The average money market account yield is 0.19 percent for the fifth week in a row.

Investors who need the security of FDIC insurance but want better rates than plain-vanilla CDs provide may be interested in indexed CDs.

In the Bankrate story, "Indexed CDs offer investor protections, risks," Dan Weil reports that the yield on indexed CDs can often exceed Treasury securities, but there are some downsides, including fees and complicated structures.

In addition to fees, Weil recommends that investors tempted by indexed CDs look at possible early withdrawal penalties and the methods for calculating your return.

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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