cds

CD rates for Aug. 2, 2012

 

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

There is still no good news for savers.

Yields on longer maturity certificates of deposit continue to grope for the bottom, with the average 2-year CD yield tying a record low of 0.5 percent while the 3-year and 5-year CDs set new lows of 0.65% and 1.06%, respectively.

On maturities of one year and less, yields were unchanged. But that's not saying much considering that they are also at record lows and the only direction those yields have moved lately is lower. The average 1-year CD earns just 0.31 percent.

Regardless of the low interest rate environment, it is important to shop around. To find the best yielding cash investments – from online savings accounts and money market accounts to CDs, check out the free search engine at Bankrate.com.

I'm Greg McBride.

 

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