CDs offer a safe haven for investors in uncertain economic times, with top rates reaching 4.65% APY. Unlike stocks, which can be volatile, CDs provide steady returns, making them ideal for those who want to protect their money.
Here are the current top CD rates and their estimated earnings on different deposit amounts:
* Best CD rates today:
– 6 months: 4.65%
+ CommunityWide Federal Credit Union: $22.99 (on $1,000), $114.93 (on $5,000), $229.85 (on $10,000)
– 1 year: 4.45%
+ CommunityWide Federal Credit Union: $44.50 (on $1,000), $222.50 (on $5,000), $445.00 (on $10,000)
– 3 years: 4.15%
+ America First Credit Union: $129.74 (on $1,000), $648.69 (on $5,000), $12,97.38 (on $10,000)
– 5 years: 4.20%
+ America First Credit Union: $228.40 (on $1,000), $1,141.98 (on $5,000), $2,283.97 (on $10,000)
Experts recommend comparing rates before opening a CD account to get the best APY possible.
When considering CDs, ask yourself:
– Will you need your funds in the near future?
– Can you meet the minimum deposit requirements?
– Do you want to add money over time?
– Are you disciplined enough not to withdraw early?
CDs offer benefits like low risk, guaranteed returns, and competitive rates. However, they also have a barrier to access due to early withdrawal penalties.
To determine if a CD is right for your money, weigh the pros and cons based on your specific goals and needs.
Source: https://www.cnet.com/personal-finance/banking/cds-are-a-safe-haven-in-a-shaky-economy-todays-cd-rates-march-18-2025