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CD Rates Today: May 2, 2025 – Take Home Up To 5.02%
- CD rates are currently as high as 5.02% based on certificate term lengths, offering better yields than high-yield savings accounts.
- The longer the CD term, the higher the early withdrawal penalty, often losing a year's worth of interest or more if withdrawn early.
- For short-term goals, consider three-month CDs with the highest rate at 4.67%, and six-month CDs at 4.94%.
- One-year CDs have the highest rate at 5.02% currently, with an average APY of 1.83%.
- Two-year CDs offer rates up to 4.52%, three-year CDs at 4.27%, and five-year CDs at 4.26%.
- Jumbo CDs require substantial deposits, with some banks considering $100,000 or more as a minimum.
- Digital banks, with lower overhead costs, tend to offer competitive CD rates compared to traditional banks.
- CD deposits come with specific terms, early withdrawal penalties, and FDIC/NCUA insurance protection up to $250,000.
- CDs provide a safe investment option compared to riskier assets like stocks, real estate, or cryptocurrencies.
- Avoid early CD withdrawals to maximize earnings, as they typically offer higher interest rates than other savings options.
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