NEW YORK (CNN/Money) - Interest rates for 12-month CDs rose to an average of 1.38 percent during the week ended May 25, up from 1.36 percent the week prior, but rates for other banking products held steady.
CD rates have moved higher over the past month, jumping from 1.29 percent for the week ended April 27, according to Informa Research Services. For the week ended May 25, CD rates ranged from 0.35 percent on the low end to 2.89 percent.
Interest rates for money markets and checking accounts, however, remained unchanged.
Money market rates stood at an average of 0.64 percent, unchanged from the week prior but slightly higher than the month-earlier 0.63 percent average. Rates ranged from 0.01 to 2.5 percent for the week ended May 25.
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Rates for checking accounts held on to their 0.3 percent average, unchanged from both a week and month earlier, with 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 May 25, 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 |
0.75% |
1.25% |
0.10% |
0.70% |
| Wachovia Bank |
NC |
0.85% |
1.20% |
0.10% |
0.75% |
| JPMorgan Chase Bank |
NY |
0.90% |
1.25% |
0.20% |
0.65% |
| Bank One |
IL |
0.75% |
1.01% |
0.40% |
1.65% |
| U.S. Bank |
OH |
0.70% |
1.01% |
0.35% |
0.75% |
| Fleet National Bank |
RI |
0.75% |
1.76% |
0.10% |
1.20% |
| Citibank |
NY |
0.90% |
1.25% |
0.70% |
2.00% |
| Washington Mutual Bank |
CA |
1.00% |
1.50% |
0.40% |
2.07% |
| Wells Fargo Bank |
CA |
0.85% |
1.20% |
0.40% |
1.06% |
| SunTrust Bank |
GA |
0.95% |
1.40% |
0.10% |
0.80% |
| Top Ten Avg |
|
0.84% |
1.28% |
0.29% |
1.16% |
* 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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