Short-term CDs offer best yields in five years

Banks are boosting yields on short-term certificates of deposit totheir highest levels in half a decade.

As the Federal Reserve continues to raise interest rates,consumers looking for places to park cash have benefitted from higherrates on money-market accounts and other bank products. Now, some ofthe best offers are being found on CDs.

Among the most-aggressive offers are those from online banks suchas NetBank Inc. and E(1)Trade Financial Corp.'s E(1)Trade Bank, whichrecently boosted rates to 5 percent or more on their one-year CDs,the first time since 2001 that rates have hit that level.VirtualBank, an online bank in Palm Beach Gardens, Fla., last weekincreased …