CD rates have gone up and down many times from 1965 to 2024. ; The highest CD rate recorded in the United States occurred in 1980. ; CD rates have stayed competitive in 2024 as the Federal Reserve waits for inflation to drop closer to 2%.
Wondering how today’s CD rates compare to rates of the past? Here’s a look at historical rates on certificates of deposit.
Looking at the average rates of certificates of deposits (CDs) over time is a useful way to measure whether the yields currently being offered are competitive. CD rates move in tandem with the federal funds rate, the benchmark interest rate set by the Federal Reserve. Yields on CDs rose above 10% in the early 1980s when the Fed set interest rates well above that. CD rates hit recent highs at the start of 2024, when interest rates were at their highest level since 2001. Keep in mind that the best...
CD rates in the 1980s · CD rates in the 1990s · CD rates in the 2000s · CD rates from 2010 to 2020 · CD rates since 2020
Certificates of deposit (CDs) offer interest on your money in exchange for locking up your funds for a set period of time. CD terms can range from one month to several years, and in many cases, they can offer better yields than high-yield savings accounts and money market accounts. That said, CD rates can vary depending on a few factors, including the financial institution, the type of CD, and your chosen term. So, what is a "good" CD rate these days, and how can you maximize your return? Here's...
CDs are a safe investment, especially for savings you may need in the short-to-medium term. CDs lock in your interest rate for the duration of the certificate, so if rates drop, your interest rate will stay fixed until your CD matures. That’s unlike high-yield savings accounts, where rates can rapidly rise or drop. With rates at near record highs and likely to drop later in the year, now may be the time to lock in interest rates on a longer-term CD, pros tell us.
interest rates without worrying about the safety of your money. When you open a CD, you deposit a lump sum into the account... 00% or higher right now, the market's long-term, historical...
These are the FDIC national average rates for federally insured savings, interest checking, certificates of deposit and money market accounts. Rates are trending upward.
Choice Promotional CD Term, Standard APY, Relationship Bump APY ; 3 months, 1.00%, 3.00% ; 6 months, 1.00%, 5.00% ; 9 months, 1.00%, 4.00%
But did you know that the average savings account interest rate is just 0.45%? If you want to save for a future goal and potentially earn much better returns, consider a certificate of deposit (CD). A CD is a low-risk type of deposit account that helps you earn compound interest while locking in a higher yield for a set period of time. With a CD, you deposit your money in the account and commit to leaving it there for a few months to several years, depending on ...