Thu, November 28, 2024
Wed, November 27, 2024
[ Wed, Nov 27th 2024 ]: Bill Williamson
Where to invest for 2025

Best CDs Right Now to Maximize Your Savings

The article from Business Insider discusses the current landscape of Certificate of Deposit (CD) rates as of early 2023. It highlights that with the Federal Reserve raising interest rates to combat inflation, CD rates have also increased, making them an attractive option for savers looking to lock in higher yields. The piece lists several financial institutions offering competitive CD rates, including online banks like Ally, Marcus by Goldman Sachs, and Synchrony Bank, which often provide higher rates than traditional brick-and-mortar banks due to lower overhead costs. It also mentions that credit unions and smaller banks might offer competitive rates, especially for local or community-focused depositors. The article advises readers to consider not only the rate but also the term length, early withdrawal penalties, and the minimum deposit requirements when choosing a CD. Additionally, it points out the importance of laddering CDs to manage liquidity and take advantage of different rate environments over time.

Read the Full Business Insider Article at [ https://www.businessinsider.com/personal-finance/banking/who-has-the-best-cd-rates-right-now ]