A certificate of deposit (CD) is a time deposit account. A bank agrees to pay interest at a certain rate if savers deposit their cash for a predetermined period.
Check out the best CD rates you can find at top online banks and credit unions. See the highest CD interest rates.
According to the FDIC, the average CD pays 0.20% to 1.72% APY, depending on the term length. However, many financial institutions pay higher rates.
The best CD rates for August 2023 can help you earn money, as the Fed's decision to raise interest rates leads to higher yields from deposit accounts.
To combat inflation, the Federal Reserve has raised interest rates 11 times since March 2022. As interest rates keep rising due to the Fed's actions, CD rates are also expected to increase.
Certificate of deposit rates are still high, but fewer banks are pushing rates up. Most experts think CD rates may have reached their peak.
Interest rates on certificates of deposit are red hot. But will CD rates keep going up in 2023?
A certificate of deposit (CD) is a reliable and safe way to earn interest on your savings. CDs are deposit accounts that provide a guaranteed return.
CD shoppers looking to make a large deposit have a new option today to earn a top-notch rate, with Credit One Bank launching a 15-month CD.
