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CD Rates Today: May 7, 2025 – Take Home Up To 5.02%
- CD rates today, on May 7, 2025, are offering up to 5.02%, significantly higher than in previous years.
- Certificates of Deposit (CDs) provide fixed interest rates for a set period, offering higher yields than high-yield savings accounts.
- Withdrawal penalties apply if CD funds are accessed before maturity, potentially resulting in lost interest.
- Short-term CDs, such as three and six-month terms, offer competitive rates, with the highest being 4.67% and 4.94% respectively.
- For one-year CDs, the highest rate available is 5.02%, while the average APY stands at 1.83%.
- Longer-term CDs, like two and five-year options, are offering rates up to 4.52% and 4.26% respectively.
- Jumbo CDs have rates as high as 4.94% for a 6-month term, with varying minimum deposit requirements.
- Digital banks like Chase Bank, Capital One, and Synchrony Bank often provide competitive CD rates due to lower costs.
- When investing in CDs, early withdrawal penalties can erode interest earnings, so it's advisable to hold until maturity.
- While CDs offer stable returns, stocks may outperform in the long run, though with higher volatility.
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