CD rates plumbed new depths in April. Rates varied though. Savers in Cincinnati had access to CD rates half a percent higher than people in Pittsburgh.
This year will see the end of high-yielding CDs issued in 2008. That is bad for the owners of those CDs who will be forced out into the cold yield-barren world of 2013, but borrowers may benefit.
Sometimes struggling banks offer higher-than-average deposit and CD rates to attract customers. Should savers beware of CDs from floundering banks?
The opposite side of today’s low CD rate coin can be found in the ’80s when interest rates were high — on everything.
Last year was a terrible one for CD rates, with Bankrate’s CD averages falling to all-time lows. But will 2013 be any better?
Owners of long-term CDs that mature now are in for a shock. There aren’t many low-risk options that offer yields that beat inflation.
Bankrate’s weekly interest rate survey revealed that the average five-year jumbo CD yield hit a new low this week. It’s now less than 1 percent.
Low rate policies hurt savers but help borrowers. Is it any coincidence that governments benefit by borrowing at low rates?
Deposits over the FDIC limit of $250,000 can be insured at one bank using CDARS. Find out at Bankrate.com.
South Korea is grappling with a banking scandal of its own. Regulators allege that banks have submitted inaccurate CD rates on which a benchmark rate is based.