CNN/Money One for credit card only hard offer form at $9.95 One for risk-free form at $14.95 w/ $9.95 upsell  
CNNMoney.com
Personal Finance > Credit & Debt
graphic

12-mo. CD rates edge higher
Average rates for money market, checking accounts flat but rates for 12-mo. CD move higher.
June 16, 2004: 3:54 PM EDT

NEW YORK (CNN/Money) - Interest rates for 12-month CDs moved modestly higher to a 1.45 percent average for the week ended June 15, from 1.42 percent the previous week, but rates for other savings instruments remained flat.

Bankrate.com
 
MMA 2.41%
$10K MMA 2.73%
6 month CD 3.15%
1 yr CD 3.62%
5 yr CD 4.05%
Find personalized rates:
 

"The bond market has an influence on the longer term CDs [greater than 12 months], while the shorter term CDs, along with checking and money market accounts, are influenced more by the Federal Reserve," said Randy Rosen, manager of deposit research at Informa Research Services.

"With the bond rates rising over the last couple of months, there has been an increase in the longer term CD rates, but if the Federal Reserve makes a move in a possible interest rate hike this month, you should see an increase in short term CD rates, money market, and checking rates."

Rates for 12-month CDs ranged from 0.35 percent on the low end to 2.89 percent for the week, according to Informa. A month earlier, the average rate stood at 1.36 percent.

Weekly rates information
graphic
12-mo. CD rates edge higher
Mortgage rates rise
Credit card rates flat

Interest rates for money market and checking accounts, however, were flat.

The average interest rate for money markets remained firm at 0.64 percent, unchanged from the last month, with a range of 0.01 percent to 2.5 percent.

Checking accounts clung to their month-long 0.30 percent average. Rates spanned from 0.01 percent to 3.01 percent for the week ended June 15.

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 June 15, 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% 1.55% 0.10% 0.70%
Wachovia Bank NC 0.95% 1.35% 0.10% 0.75%
JPMorgan Chase Bank NY 1.00% 1.40% 0.20% 0.65%
Bank One IL 0.90% 1.25% 0.40% 1.65%
U.S. Bank OH 0.70% 1.01% 0.35% 0.75%
Fleet National Bank RI 0.75% 1.75% 0.10% 1.20%
Citibank NY 1.01% 1.40% 0.70% 2.00%
Washington Mutual Bank CA 1.06% 1.65% 0.40% 2.07%
Wells Fargo Bank CA 0.85% 1.20% 0.40% 1.06%
SunTrust Bank GA 1.00% 1.45% 0.10% 0.80%
Top Ten Avg   0.90% 1.40% 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.

.  Top of page




  More on CREDIT & DEBT
Stay away from the mall, say Hallelujah!
Dissolve holiday debt
Paying by plastic gets faster
  TODAY'S TOP STORIES
Stocks: Bailout rally
Oil recovers but demand worries remain
Fortune 500: Who's up, down and gone




graphic graphic

© 2008 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.