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.
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.
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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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