Compare CD Interest Rates at Banks & Credit Unions to Save on Your Investments
CD Interest Rate Terms Explained
A certificate of deposit (CD) is a type of investment that pays a set interest rate for a fixed amount of time. The CD interest rate is the annual percentage yield an investor will earn on their investment.
The CD interest rates by term are listed in the table below:
Term Annual Percentage Yield (APY) Interest Rate
1 month 0.10% 1.00%
3 months 0.25% 1.25%
6 months 0.35% 1.50%
1 year 0.45% 2.00%
2 years 0.65% 3.00%
3 years 0.85% 3,50%, 4 years 1,05%, 5 years 1,20%, 6 years 1,40%.
Compare CD Interest Rates at Banks & Credit Unions
A bank CD is a certificate of deposit that is usually issued by a bank. The interest rates are usually higher than what you can find at a regular savings account, but the benefit to depositing money in a CD is that it locks up your funds for a predetermined amount of time.
A credit union CD is also an investment that pays higher interest rates than regular savings accounts, but there are not as many restrictions on when you can access your money.
Banks and credit unions offer different types of CDs with different interest rates and restrictions. You should compare them before investing your money to see which one offers the best deal for you.
CDs vs. Money Market Accounts vs. Savings Accounts
CDs:
- Fixed interest rate for a set period of time
- Penalty for early withdrawal
Money Market Accounts:
- Higher interest rates than savings accounts
- Penalty for early withdrawal
Savings Accounts:
- Lower interest rates than money market accounts (but higher than CDs)
CD Laddering and Building Wealth With CDs
CD Laddering is a technique for investing in Certificates of Deposit that involves breaking your money into smaller chunks and investing them at different rates of return. This strategy is often used to help people save for retirement.
CDs are one of the best ways to save for retirement because they offer higher interest rates than most other investments. Plus, they are FDIC insured and provide a fixed rate of return until the CD matures.
A CD Ladder Strategy is used to help people build wealth by having CDs maturing at different times so that they can take advantage of higher interest rates as they change over time.
CD Interest Rates - Everything you need to know
We did the research and narrowed down to ten sites that will help you get the information you need and make a decision. Keep reading to learn about each one.
We combined over twenty different criteria to establish out rankings with the help of cutting-edge Artificial Intelligence and expert contributors. These criteria include user reviews, content relevance, website reputation score, user votes, and more (We make sure to update these rankings on a regular basis so that the information is always up to date).
We've included the most useful CD Interest Rates videos in our review, as well as links to further resources for more information.
Interest in cd interest rates over time
According to our data there has been a growing interest in cd interest rates over the past few years. We estimate that there have been over 127,050 search engine searches in the United States in 2023 alone.
