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Short term CD rates are falling as the Federal Reserve holds the overnight Fed Funds rate close to zero.

A quick glance at the CD rates offered by the big banks - Chase, Wells Fargo, and Bank of America, shows that the banks offer some terms that are competitive while others are not worth it.

The one thing that everyone should have learned after the last year: if something is too good to be true, it probably is.

Affinity Bank is offering an 8-month CD paying 2.25% APY.

It makes little sense to keep money in money market accounts in a big bank or in most local and regional banks, not when there are always a handful of banks really out there competing for your money. It makes even less sense when all these savings accounts are equally insured by the FDIC. A lot of people search for the best rates for CDs. Far fewer pay attention to the significant spreads for regular savings accounts in FDIC institutions.

Citibank is offering a competitive 12-month CD that pays 2.70% APY. It must be opened in a branch and as far as I know it's only for Massachusetts customers.

The latest batch of data shows that longer-term CD rate averages are moving up while shorter term CDs as well as savings and money market rates continue to fall. Are we near a bottom?

State Bank of India, New York is offering a 36-month (3 year) CD paying 3.55% APY. That's the highest 36 month CD rate since early February.

When Silver Falls Bank in Oregon failed,the acquiring bank, Citizens Bank of Corvallis lowered depositor CD rates from 4% to 1%. That's the hazard of going with a less sound bank.

FNBO is offering a market leading 4% APY on a 60 month (5 year) CD. To open the account you'll need to first open a savings account and then you'll be able to add the CD to the account.

AIG is offering some pretty competitive CDs. The question is, with all of the hoopla over executive compensation, would you open one?

UFBDirect.com is offering a 12-month CD for a competitive rate of 2.90% APY.

Discover Bank emailed me the other day to let me know they have a redesigned website with some new features. I took a look and it also prompted me to see how they were doing on rates.

E Loan is waiving the early withdrawal penalty on CDs for the month of March. It may be helpful for consumers who need the cash but it's also a move by E Loan to phase out high yielding CDs.