Key Takeaways
Certificate of deposit rates remain attractive despite dropping in recent months.
So, the sooner you open a CD, the more you stand to earn.
Your annual percentage yield is fixed when you open a CD.
That means your returns stay the same even if rates fall.
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Since the beginning of this year, CD and savings rates have been slowly decreasing.
The Fedcut rates in September– its first rate cut since March 2020 – and again inNovember.
Since then, CD and savings rates have fallen faster.
This week, it’s 4.14%.
“Rates are still high on a historical basis.”
We evaluated CD rates from more than 50 banks, credit unions and financial companies.
We evaluate CDs based on APYs, product offerings, accessibility and customer service.
*APYs as of Dec. 18, 2024, based on the banks we track at CNET.
Earnings are based on APYs and assume interest is compounded annually.
**Weekly percentage increase/decrease from Dec. 9, 2024, to Dec. 16, 2024.
