cds

CD rates for Oct. 16, 2013

 

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

Finally, some good news for savers. We'll start with money market deposit accounts, which posted the biggest one-week increase in more than four years, rising to 0.12 percent. On larger deposits, the returns are slightly better, with the average at $10,000 now 0.16 percent and at $100,000 you'll earn 0.25 percent. Now bear in mind, this week's increases may not hold for long, particularly if nervous investors start flooding banks with cash due to worries about the debt ceiling.

Yields on longer maturity CDs ticked higher, with the average four-year CD yield now at a six-month high of 0.64 percent. The jumbo five-year CD is at a seven-month high of 0.85 percent.

Whether yields are high or low, it is still important to shop around for the best possible returns. 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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