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CD Rates Today: May 23, 2025 – Take Home Up To 5.02%
- CD rates today, as of May 23, 2025, reach up to 5.02%, significantly higher than in prior years, offering attractive options for savers.
- Certificates of Deposit (CDs) are fixed-interest savings accounts with penalties for early withdrawal; choosing a CD term aligned with your financial needs is crucial.
- Options include higher-yield three-month CDs averaging at 1.3% or a six-month CD with the best rate at 4.94%.
- For longer terms, a 12-month CD offers up to 5.02%, while two-year CDs provide interest rates as high as 4.52%.
- Consider a three-year CD yielding up to 4.27% and a five-year CD at 4.26%, but be mindful of early withdrawal penalties.
- Jumbo CDs with rates of 4.94% for a 6-month term are available, typically requiring substantial minimum deposits.
- When seeking top CD rates, compare offerings from various institutions including banks, credit unions, and online platforms.
- To open a CD, deposit a specific amount, with the timer starting upon deposit and potential early withdrawal penalties impacting earnings.
- While CDs offer secure savings with FDIC or NCUA coverage, they might not match the returns of stocks, which come with higher volatility.
- Understanding the role of CDs versus stocks in a financial plan is essential for long-term financial stability and growth.
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