NEW YORK (CNN/Money) - Savings rates ticked modestly higher for the week ended April 27 as the average rate for a 12-month CD rose to 1.29 percent from 1.28 percent the previous week.
The average interest rates for 12-month CDs have stayed within a narrow range over the past four weeks, hovering between 1.27 percent and 1.29 percent, according to Informa Research Services. Twelve-month CD rates ranged from 0.25 to 2.89 percent during the week ended April 27.
Rates for money market accounts held steady at 0.63 percent, down slightly from a month ago, with a range from 0.01 percent on the low end to 2.50 percent on the high side.
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Checking account rates remained stable with a 0.30 percent average, also down slightly from a month ago. These rates had a range of 0.01 to 3.01 percent.
Below are the rates for key savings products from the 10 largest banks. You can compare rates from more institutions with the rate-search tools above.
TOP TEN COMMERCIAL BANKS & SAVINGS INSTITUTIONS
As of April 27, 2004
|
| Institution* |
State |
6 Month CD
$25,000 APY |
12 Month CD
$25,000 APY |
Interest
Checking
$5,000 APY |
Money Market
$25,000 APY |
| Bank of America |
NC |
0.70% |
1.06% |
0.10% |
0.70% |
| Wachovia Bank |
NC |
0.85% |
1.20% |
0.10% |
0.75% |
| JPMorgan Chase Bank |
NY |
0.90% |
1.10% |
0.20% |
0.65% |
| Bank One |
IL |
0.60% |
0.75% |
0.40% |
1.65% |
| U.S. Bank |
OH |
0.70% |
1.01% |
0.35% |
0.75% |
| Fleet National Bank |
RI |
0.70% |
1.50% |
0.10% |
1.20% |
| Citibank |
NY |
0.85% |
1.10% |
0.70% |
2.00% |
| Washington Mutual Bank |
CA |
1.01% |
1.30% |
0.40% |
0.90% |
| Wells Fargo Bank |
CA |
0.85% |
0.90% |
0.40% |
1.06% |
| SunTrust Bank |
GA |
0.95% |
1.20% |
0.10% |
0.75% |
| Top Ten Avg |
|
0.81% |
1.11% |
0.29% |
1.04% |
* Ranked by total deposit size
Source: Informa Research Services, Inc., 800-848-0218. © 2004. All rights reserved. May not be reproduced or retransmitted in any form without express written consent of Informa Research Services, Inc.
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