CD Rates May 31: Average CD Rates Continue to Decline

Average CD rates for this week are lower, continuing the slow tortuous decline of the past three years. 12 month CD rates as reported by MonitorBankRates.com are now averaging 0.58 percent. This rate is down from the previous week's average of 0.61%. However, you can get rates higher than the averages. Right now on our rate table Tennessee Commerce Bank is offering 12 month rates at 1.29% with an APY of 1.30%.

Find the highest CD rates at banks and credit unions by searching our CD rate tables at CDRates.MonitorBankRates.com. You can compare rates from dozens of national and local institutions.

3 month CD rates are now averaging only 0.25 percent but on our 3 month CD rate table E-LOAN.com is offering a rate of 0.71% for a 3 month certificate of deposit.

The average 5 year CD rate is now under 2.00%, averaging 1.85%. You can get 5 year rates higher than the average - right now Union Savings Bank is offering 5 year bank CD rates at 2.71% with a yield of 2.75%.

CD Rates May 31, 2011

3 Month Rates 0.25%

6 Month  Rates 0.37%

12 Month Rates 0.58%

18 Month Rates 0.71%

24 Month Rates 0.93%

36 Month Rates 1.24%

48 Month Rates 1.49%

60 Month 1.85%