Current CD Rates: Stay Informed About Certificate of Deposit Yields

 CD (Certificate of Deposit) rates can vary widely and are subject to change over time based on several factors, including the current economic conditions and the policies of specific banks or financial institutions.

To find the current CD rates, you can follow these steps:

1. Check Bank Websites: Visit the websites of various banks and credit unions. Most banks provide information on their current CD rates, including the terms (such as the length of the CD) and the corresponding Annual Percentage Yield (APY). Look for the "Savings" or "CDs" section on their websites.

2. Contact Local Branches: You can also contact local bank branches or credit unions directly to inquire about their current CD rates. Sometimes, the rates offered in-person or over the phone may differ slightly from what's posted online.

3. Use Financial Comparison Websites: Many financial websites and tools allow you to compare CD rates offered by different institutions. Websites like Bankrate, NerdWallet, or DepositAccounts can provide information on current CD rates, terms, and APYs. These sites often allow you to filter and search for CDs based on your preferences.

4. Consult Financial News Sources: Financial news outlets and publications may report on current CD rates and trends. These sources can provide insights into the broader economic factors influencing CD rates.

5. Consider Online Banks: Online banks often offer competitive CD rates. Be sure to explore both traditional brick-and-mortar banks and online banks to find the best CD rates that suit your needs.

6. Check for Promotions: Some banks periodically offer special promotions and higher rates for certain CD terms or opening a CD with a larger deposit. Keep an eye out for these opportunities.

Remember that CD rates can vary not only by institution but also by the length of the CD term. Typically, longer-term CDs offer higher rates, but they also require you to lock in your money for a more extended period. Be sure to consider your financial goals and liquidity needs when choosing a CD term and rate.

Since rates can change frequently, it's essential to verify the most up-to-date information directly from the institution you're interested in or through reliable financial resources.

The current rates of a certificate of deposit (CD) vary depending on the term of the CD, the amount deposited, and the financial institution. As of September 12, 2023, the highest-yielding 1-year CD has an APY of 0.65%, while the highest-yielding 5-year CD has an APY of 2.31%.

Here are some of the current CD rates from different banks:

• Bank of America: 1-year CD: 0.10% APY, 5-year CD: 1.30% APY
• Capital One: 1-year CD: 0.15% APY, 5-year CD: 1.20% APY
• Chase: 1-year CD: 0.55% APY, 5-year CD: 1.55% APY
• Discover: 1-year CD: 0.60% APY, 5-year CD: 2.00% APY
• Wells Fargo: 1-year CD: 0.20% APY, 5-year CD: 1.50% APY

When choosing a CD, it is important to compare rates from different banks and to factor in the fees that may be associated with the CD. It is also important to consider your financial goals and how long you are willing to lock up your money.

CDs are a safe investment that can help you grow your money over time. However, it is important to remember that CD rates are not guaranteed and can change at any time.