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Bank rates, credit cards rise
Average APRs for credit cards and banking APYs rise for second week in a row.
July 26, 2005: 5:11 PM EDT
CDs & Money Market
MMA 0.39%
$10K MMA 0.35%
6 month CD 0.39%
1 yr CD 0.71%
5 yr CD 1.50%

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NEW YORK (CNN/Money) - Consumer interest rates for credit cards and banking products were up the week ending July 26th, according to the latest Informa Research Services survey.

The average annual percentage rate, or APR, for platinum cards rose to 11.55 percent from 11.51 percent the week before. Interest rates ranged from a low of 5.99 percent to a high of 19.80 percent for the week and stood at 11.46 percent a month earlier.

Interest rates for banking products rose, with 12-month CDs rising to a 2.91 percent average annual percent yield, or APY, up from 2.89 percent the previous week. Rates were 2.83 a month earlier.

The average interest rate for money markets stayed flat at 1.04 percent, with a range of 0.02 percent to 3.50 percent. Rates stood at 1.00 percent a month earlier.

Interest rates for checking accounts stayed flat at 0.38 percent average for the third week in a row. Rates ranged from 0.01 percent to 3.82 percent the week ended July 26th.

Below are the rates for key savings products from the 10 largest banks. You can compare rates for banking products, as well as credit cards, using the rate-search tools above.

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TOP TEN COMMERCIAL BANKS & SAVINGS INSTITUTIONS
As of July 26, 2005
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 2.50% 3.15% 0.10% 2.10%
Wachovia Bank NC 2.85% 3.00% 0.50% 1.78%
JPMorgan Chase Bank NY 2.75% 3.00% N/A 1.50%
Bank One IL 2.75% 3.00% 0.75% 2.40%
U.S. Bank - Cleveland OH 1.25% 1.75% 0.20% 2.00%
BOA/Fleet RI 2.74% 3.25% 0.10% 2.10%
Citibank NY 3.00% 3.35% 1.01% 1.80%
Washington Mutual Bank CA 3.25% 3.40% 0.40% 2.25%
Wells Fargo Bank CA 2.50% 2.95% 2.05% 2.45%
SunTrust Bank GA 2.85% 3.35% 0.10% 2.10%
Top Ten Avg   2.64% 3.02% 0.58% 2.05%
* Ranked by total deposit size
Source: Informa Research Services, Inc., 800-848-0218. © 2005. 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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