cds

CD Rates for June 16, 2011

 

 

I'm Greg McBride, senior financial analyst with Bankrate.com, and here is your weekly look at yields on certificates of deposit.

This week saw more of what savers have seen too much of in 2011, and that's the steady drip of declining yields. This week, there were no big moves, but we did see lower yields on a range of CD maturities, as well as the money market deposit account, which fell to 0.16 percent. The average 1-year CD yield is now 0.44 percent and the average 5-year CD earns just 1.68 percent.

Even large jumbo deposits, those requiring initial investments of $100,000 or so, earn little more. The average 1-year and 5-year jumbo CD yields are 0.49 percent and 1.7 percent, respectively.

Ben Bernanke and the weak economic recovery have been no friends to savers. Yields are low, they're trickling lower, and any prospects for improvement are still far off in the distance.

But even in a low rate environment, there are better yields available by shopping around. To find the best yields on all CD maturities and other savings instruments, go to Bankrate.com.

I'm Greg McBride.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Chrysler recall for car ignition fix

The Chrysler Group has announced a recall of 349,442 cars for a potential problem that can cause the ignition key to become stuck or inadvertently move.  ... Read more


Connect with us