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CD Rates Today: March 10, 2025 – Forbes Advisor
- The best interest rates on CDs currently reach up to 5.06%, depending on the term, with a look at trending CD rates and best rates overview.
- CDs offer fixed interest rates for a specified term where early withdrawal incurs penalties, and choosing a term aligned with needs is crucial.
- Rates for three-month CDs range from 1.3% (average) to 4.72% (highest), with stability in rates from the previous week.
- For a six-month CD, the highest yield remains at 4.94%, maintaining consistency with the prior week, while the average APR is at 1.79%.
- A 12-month CD offers a top rate of 5.02%, with a consistent average APY of 1.87% compared to the previous week.
- Two-year CDs feature rates as high as 4.52%, while three-year CDs reach 4.65% for the highest rate and 1.59% average APY.
- Five-year CDs present a peak rate of 4.43% and an average APY of 1.6%, emphasizing caution regarding early withdrawal penalties.
- Jumbo CDs offer a 6-month term with a highest rate of 4.94% and an average APY of 1.79%, requiring larger minimum deposits.
- Comparison shopping is crucial due to varying CD rates among banks, highlighting potential benefits of online banks over traditional brick-and-mortar institutions.
- Purchasing a CD involves a lump-sum deposit with a set term and interest accrual, emphasizing the importance of avoiding early withdrawals to maximize returns.
- CDs provide a safe investment option with FDIC or NCUA insurance, offering protection up to $250,000 in case of bank failure, making them a secure savings choice.
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