More bad news for savers: CD rates near rock bottom

   February 25, 2013 9:37 am

 

Interest rates on certificates of deposit don’t have much farther to drop. The national rate on a 12-month $25,000 CD stands at 0.31 percent, well below the 0.63 percent level two years ago and 4 percent in 2007, according to the Wall Street Journal.
The weak returns are due mainly to Federal Reserve efforts to spur the economy.
Locally, Marquette Savings Bank (at 0.45 percent) and several credit unions are paying a little better than the national average, according to Bankrate.com.

 

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