CD Rates Keep Falling In March

Most CD rates declined for the 17th straight month in March.

The average return on four of the five certificates of deposit we track finished the month lower than they were at the end of February.

The only exception was 5-year CDs, whose average return rose for the second straight month and is now up slightly for the year.

Bankrate’s weekly survey of large banks and thrifts taken March 31 found the average annual yield for a:

3-month CD has fallen to 0.32%, down from 0.33% last month and 0.36% at the start of the year. That’s the lowest average since the survey began tracking 3-month CD rates in March 1989.

6-month CD has fallen to 0.44%, down from 0.46% last month and 0.50% at the start of the year. It’s the lowest average since the survey began tracking 6-month CD rates in January 1984.

1-year CD has fallen to 0.72%, down from 0.75% last month and 0.82% at the start of the year. It’s the lowest average since the survey began tracking 12-month CD rates in October 1983.

2-year CD has fallen to 1.15%, down from 1.18% last month and 1.24% at the start of the year. It’s the lowest average since the survey began tracking 24-month CD rates in March 1989.

5-year CD rose to 2.13%, up from 2.10% last month and at the start of the year. The 2.06% reached in January remains the lowest average rate since the survey began tracking 60-month CDs in January 1984.

You’ll find many better-than-average CD rates from scores of banks in our database.