In a volatile economy, CDs offer safety and predictability that can be particularly valuable. Today’s best CDs come with rates up to 4.65% APY.
For investors nearing retirement or saving for specific goals, CDs can provide a safe haven. These low-risk accounts promise guaranteed returns and come with federal deposit insurance, protecting deposits up to $250,000 per depositor, institution, and account category.
With terms ranging from three months to several years, CDs are ideal for savings goals with set timelines. However, before opening a CD, experts recommend comparing rates to get the best APY possible.
Top perks of opening a CD include:
– Low risk: CDs held by FDIC-insured banks or NCUA-insured credit unions protect deposits.
– Guaranteed returns: Your APY is locked in when you open a CD, unlike savings accounts where interest rates can vary.
– Competitive rates: Today’s top-yielding CDs offer APYs of 4.50% or more.
To determine if a CD is right for your money, ask yourself:
– When will you need your funds?
– How much do you have to deposit?
– Do you want to add money over time?
– Do you need some discipline?
CNET reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from over 50 banks and credit unions, considering APYs, product offerings, accessibility, and customer service.
Currently, top-performing CDs include:
* CommunityWide Federal Credit Union: 4.65% APY for a 6-month term
* America First Credit Union: 4.15% APY for a 3-year term
* America First Credit Union: 4.20% APY for a 5-year term
Source: https://www.cnet.com/personal-finance/banking/cds-offer-guaranteed-returns-in-an-uncertain-market-todays-cd-rates-march-14-2025