Average rates for 12-mo. CDs inch higher but rates for money markets, checking accounts are flat. July 21, 2004: 11:14 AM EDT
Current Savings Rates
Type
Overall avgs
MMA
1.27%
$10K MMA
1.28%
6 month CD
1.38%
1 yr CD
1.73%
5 yr CD
2.58%
NEW YORK (CNN/Money) -
Interest rates for 12-month CDs seeped modestly higher to a 1.57 percent average for the week ended July 20, from 1.56 percent the week prior, but rates for other savings products held steady.
Rates for 12-month CDs ranged from 0.35 percent on the low end to 3.04 percent for the week, according to Informa Research Services. A month earlier, the average rate stood at 1.49 percent.
Interest rates for money market and checking accounts, however, were flat.
The average interest rate for money markets remained firm at 0.65 percent, unchanged from last week, with a range of 0.01 percent to 2.5 percent. A month-earlier, rates stood at 0.64 percent.
Rates for checking accounts held on to their 0.30 percent average, showing no movement in over a month. Rates spanned from 0.01 percent to 3.01 percent for the week ended July 20.
Below are the rates for key savings products from the 10 largest banks. You can compare rates from more institutions with the rate-search tool above. Plus, see the latest on mortgage rates and credit-card rates.
