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.
TOP TEN COMMERCIAL BANKS & SAVINGS INSTITUTIONS
As of July 20, 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 |
1.15% |
1.75% |
0.10% |
0.80% |
| Wachovia Bank |
NC |
1.05% |
1.45% |
0.10% |
0.85% |
| JPMorgan Chase Bank |
NY |
1.00% |
1.25% |
0.20% |
0.65% |
| Bank One |
IL |
1.01% |
1.25% |
0.40% |
1.65% |
| U.S. Bank - Cleveland |
OH |
0.70% |
1.01% |
0.20% |
0.65% |
| Fleet National Bank |
RI |
1.75% |
1.85% |
0.10% |
1.20% |
| Citibank |
NY |
1.10% |
1.60% |
0.70% |
2.00% |
| Washington Mutual Bank |
CA |
1.40% |
1.80% |
0.40% |
2.07% |
| Wells Fargo Bank |
CA |
0.95% |
1.40% |
0.65% |
1.06% |
| SunTrust Bank |
GA |
1.15% |
1.80% |
0.10% |
0.80% |
| Top Ten Avg |
|
1.13% |
1.52% |
0.30% |
1.17% |
* 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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