cds

CD rates for May 16, 2013

 

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

There has been relative calm on the CD front in the past few weeks, but this week did see further erosion of already meager deposit yields. The average six-month CD yield ticked lower to 0.15 percent, and the two-year CD yield is now down to 0.38 percent. Even longer-maturity CDs weren't immune, with both four-year and five-year yields inching lower, to 0.62 percent and 0.78 percent, respectively.

Needless to say, all are record lows.

Want to do better than that? Shopping around can lift those returns, but manage your expectations, as even the top-yielding, nationally available accounts are less than 1 full percentage point higher, regardless of the maturity.

To find the best yields on all CD maturities, as well as other savings instruments, go to Bankrate.com.

I'm Greg McBride.

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