cds

CD Rates for March 10, 2011

 

 

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

CDs were mostly unchanged this week, though the average 3-month and 1-year CD yields both slipped, to 0.19 percent and 0.47 percent, respectively. Even larger 6-figure deposits weren't immune, as the average yields on 2-year and 3-year jumbo CDs both dipped, to 0.76 percent and 1.1 percent, respectively.

It continues to be a tough environment for savers, thanks to low interest rates. Spiking gasoline prices and worries about inflationary consequences don't help either. By the time the Fed gets around to boosting interest rates, if we're in the throes of higher inflation, savers will feel like they've won the battle only to lose the war. After all, higher interest rates are meaningless if inflation accelerates at a faster pace.

For the best shot at staying ahead of inflation, seek out the best yields on CDs and other saving instruments at Bankrate.com.

I'm Greg McBride.

 

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