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CD, Checking, and Savings Rates Today: Start Earning More Interest

The article from MSN Money discusses the current state of interest rates for CDs, checking, and savings accounts as of early 2023. It highlights that while the Federal Reserve has been increasing rates to combat inflation, the benefits for savers are mixed. Savings accounts are now offering higher yields, with some online banks providing rates over 4%, significantly above the national average. Certificates of Deposit (CDs) are also seeing an uptick, with short-term CDs offering competitive rates, though longer terms might not be as lucrative. Checking accounts, however, generally still offer minimal interest unless they are high-yield or rewards checking accounts. The article advises consumers to shop around for the best rates, consider the terms of CDs, and be aware of potential fees and minimum balance requirements that could offset the benefits of higher interest rates. It also notes the importance of understanding the economic environment, as the Fed's actions could influence future rate changes.

Read the Full Insider Article at:
[ https://www.msn.com/en-us/money/general/cd-checking-and-savings-rates-today-start-earning-more-interest/ar-AA1AG3z2 ]