I'm Greg McBride, senior financial analyst with Bankrate.com, and here is your weekly look at yields on certificates of deposit.
It's probably no surprise to savers that what little movement was seen in CD yields this week was on the downside. The average 1-year CD inched lower to 0.28 percent, and the average 3-year and 4-year CDs dipped to 0.55 percent and 0.72 percent, respectively. All are record lows.
Despite this record low interest rate environment, it is still 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.
CD rates stayed low this week.
The average five-year CD yield ended the year at 0.78 percent.
Finally, some good news for savers this week.
The average four-year CD yield inched higher to 0.63 percent.
The average four-year CD yield reversed last week's decline.
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A little research could save you BIG on interest.
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