National CD rates for Sept. 23, 2010

Interest Rate Roundup
CD rate graph


  • 0.58% (1-year CD yields)
  • 1.7% (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 Sept. 22, 2010.

CD rates fell across the board in this week's rate survey.

The average one-year CD yield fell 2 basis points to a new record low of 0.58 percent. Bankrate began tracking one-year CD rates in October 1983 and rates this year have been breaking new ground on a nearly weekly basis. The average five-year CD yield dropped 1 basis point to 1.7 percent.

On the jumbo side, the one-year CD fell 1 basis point to 0.64 percent. The average five-year jumbo CD yield fell 1 basis point to 1.69 percent.

The typical money market account yield is 0.19 percent for the third week in a row.

A study recently released by Moeb Services, an economic research and consulting firm, forecasts a decline in overdraft fee revenue for banks this year. The company analyzed fee revenue and found that the banking industry will take in about $35.4 billion in overdraft fees this year. Fee revenue will be down from last year but on par with 2008.

Don't cry for bankers, though. Moeb's study estimates that overdraft revenue will increase to $38 billion in 2011.

The Moeb study also reported that about 75 percent of all banking customers have opted for overdraft protection. The regulation requiring customer consent prior to enrollment in courtesy overdraft plans went into effect Aug. 15 for existing accounts and July 1 for new accounts.

Find out the strength of your bank with Bankrate's Safe and Sound ratings tool.

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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