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Banking rates mixed
Average rate for 12-mo. CD clicks higher but money markets, checking accounts hold steady.
May 12, 2004: 12:26 PM EDT

NEW YORK (CNN/Money) - Savings rates were mixed but the average rate for a 12-month CD rose to 1.33 percent for the week ended May 11, up from 1.31 percent the previous week.

CDs & Money Market
MMA 1.04%
$10K MMA 1.13%
6 month CD 1.13%
1 yr CD 1.61%
5 yr CD 2.61%

Find personalized rates:
 

Rates provided by Bankrate.com.

Rates for 12-month CDs were trading in a narrow range of 1.28 to 1.29 percent for most of the past month, according to Informa Research Services. During the week ended May 11, rates ranged from 0.35 to 2.89 percent.

Interest rates for checking account and money market accounts, however, showed no signs of life.

Checking account rates held steady at 0.30 percent, unchanged from a month earlier, with a range of 0.01 to 3.01 percent.

Weekly rates information
graphic
Banking rates mixed
Credit card rates flat
Mortgage rates rise

Money market account rates stayed at 0.63 percent, ranging from 0.01 to 2.50 percent, also unchanged from a month earlier.

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 May 11, 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% 1.25% 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 0.65% 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% 1.20% 0.70% 2.00%
Washington Mutual Bank CA 1.00% 1.30% 0.40% 0.90%
Wells Fargo Bank CA 0.85% 1.01% 0.40% 1.06%
SunTrust Bank GA 0.95% 1.25% 0.10% 0.75%
Top Ten Avg   0.82% 1.16% 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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