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Comparing CD Rates – Calculating the Best Interest Rate

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Compare and calculate the best CD rates.

Description: A graph or chart showing different CD rates, bank logos, and a calculator.


  1. Certificates of deposit (CDs) are a great way to save money and earn interest, but it’s important to compare CD rates to get the best rate of return. Different banks and credit unions offer different CD rates, depending on the amount of money deposited and the length of the CD term.

  2. The minimum deposit for standard State Farm CDs is $500 (maximum of $250,000); you'll need $1,000 to open a specialty CD. Rates on State Farm CDs are generally competitive with those offered by other institutions.

  • CD rates and terms vary for balances above $100,000. BMO Harris CDs carry a $1,000 minimum deposit requirement. Interest on BMO Harris CDs is calculated daily and paid out monthly.

  • Current 6-Month CD Rates are available from a variety of banks and credit unions. If you'd prefer a CD with a shorter term than one year, today's best rate on a six-month CD is 4.35%. That compares favorably to rates offered by other institutions.

  • Apple Bank CD Rates for February 2023 include 6 Months at 3.50%, 9 Months at 3.75%, 12 Months at 4.00%, and 15 Months at 4.25%. This bank's CD rates are competitive with other banks and financial institutions.

  • The brokerage firm's CD rates are more than competitive with online banks and other top financial institutions. A $1,000 minimum opening deposit is required to open a CD.

  • Like many online banks, Barclays offers competitive interest rates. Both their high-yield savings account and certificates of deposit (CDs) come with a $1,000 minimum deposit requirement.

  • To get the best CD rate, it's important to compare different banks and credit unions. To make this easier, use calculators such as the savings calculator, CD calculator, compound savings calculator, or other banking calculators.

  • An example of a high-yield CD is a 12-month certificate with one of the highest interest rates available on savings accounts or CDs. However, the maximum deposit amount on this CD is limited to $1,000.

  • CD rates can change over time depending on the state of the economy. In 2019, the average interest rate for six-month CDs was 1.54%. But that year later saw a recession, which cooled inflation and contributed to declining CD rates.

  • When choosing a CD, it's important to consider the amount of money you want to deposit and the length of the term. To get the best return on your investment, compare different banks and calculate the best interest rate.

  • It's also important to consider the early withdrawal penalties associated with CDs. Some banks may charge a fee if you withdraw your money before the CD matures.

  • CDs can be an excellent way to save money and earn interest, but it's important to compare different banks and determine the best CD rate. Make sure to calculate the interest rate and consider early withdrawal penalties before you open a CD.

  • Researching interest rates, bank policies, and withdrawal penalties can help you get the most out of your CD. With careful planning and research, you can find the best CD rate to maximize your return.

  • Labels:
    cd ratesstate farmbmo harrisapple bankbarclayscalculatorssavings accountsinflationrecession

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