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CD Rates Today: March 17, 2025 – Forbes Advisor
- Current top CD rates can reach up to 5.06%, varying by term length.
- CDs offer fixed interest rates and require a maturity period, outperforming high-yield savings accounts in terms of yields.
- Different CD terms come with varying early withdrawal penalties, often resulting in losing a year's worth of interest if cashed out prematurely.
- Various CD terms, like three-month, six-month, 12-month, 24-month, and five-year, offer different interest rates up to 4.94% to 5.02%.
- Jumbo CDs, requiring significant deposits like $100,000 or more, also provide competitive rates.
- CDs are a straightforward savings tool with fixed terms and compounding interest, but they typically restrict additional deposits once the term starts.
- While CDs offer stable interest rates, investing in stocks or bonds may yield higher returns but with increased volatility.
- CDs provide a secure savings option with FDIC or NCUA insurance coverage up to $250,000 in case of bank failure.
- When searching for the best CD rates, it's advised to explore offerings from various financial institutions, including banks, credit unions, and digital firms.
- Considerations like early withdrawal penalties, minimum deposit requirements, and types of CDs should be reviewed before investing in a certificate of deposit.
- The average rates for CDs are determined by focusing on specific types while excluding others like promotional offers, relationship-based rates, and various special CD types.
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