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CD Rates Today: December 17, 2024—Earn Up To 5.37%
- The article provides information on the best CD rates available today with lucrative interest rates as high as 5.37%.
- Certificates of deposit (CDs) are a type of savings account that offer fixed interest rates for a specific time duration and are helpful in generating a higher yield compared to high-yielding savings accounts.
- Three-month CDs earn an average of 1.31%, but the highest rate is 4.96%, while six-month CDs are being offered with the best rate of 5.25%.
- The highest APY presently available on a popular 12-month CD is 5.37%, with an average APY of 1.90%.
- 24-month CDs offer interest rates as high as 4.52%, and two-year CDs currently have an average APY of 1.67%.
- The best rate available on five-year CDs today is 4.25%, with an APY average of 1.59%.
- The article emphasizes that when searching for the best CD rates, individuals must cast a wide search through traditional banks, credit unions, and digital firms for the highest yields.
- If wanting the best interest rates, CDs are a great investment choice as they outperform the best high-yield savings accounts and money market accounts but require an individual to do without money until the term concludes.
- CDs and stocks have their separate financial roles, and CDs are beneficial to obtain solid returns without risk for a specific portion of savings that is not immediately needed.
- The Standard reporting excludes certain types of CDs such as relationship-based rate, private, youth, senior, student/minor, affinity, bump-up, no-penalty, callable, variable, step-up, auto transfer, club, gifts, grandfathered, internet-only, and IRA CDs to determine the average rates for CDs.
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