Yields on 1-year terms for certificates of deposit slid again this week, as banks lower rates and end specials on the popular CD term. Leading this week’s chart, NewDominiondirect.com is advertising a 1-year CD for 1.82% annual percentage yield (APY) and a minimum deposit of $3000. New Dominion had previously touted a 1.92% APY for the same term and minimum, when BankShout last reviewed 1-year rates back on January 11.

Also among the best yields is Nationwide Bank; the insurer’s banking division is advertising a 12-month CD at 1.80% APY and $500 to open. Discover Bank also makes this week’s top rates, with a 1-year CD at 1.75%. Minimum to open is $2500. Ally Bank trails the pack only slightly, at 1.74% APY for the same term. Ally has heavily advertised the bank’s “no minimum deposit” features, and its 1-year CD has no opening balance requirements, accordingly.

Also dropping its rate from two weeks ago is giantbank.com, which now offers 1.71% APY on $2500 minimum for a 12 month CD. The Internet bank had previously advertised 1.81% for the same term.

As I mentioned in an earlier post, new taxes on banks could shift deposit dynamics. President Barack Obama’s plan to tax banks that have more debt and less deposits may encourage financial institutions to offer higher savings rates, including on certificates of deposit. For now however, CD rates continue to fall. “Loose money,” or low federal interest rates, mean banks can borrow money cheaply and don’t need as many consumer deposits.