Commissions do not affect our editors' opinions or evaluations. After climbing for the past couple of years, CD rates have been slowly declining in 2024. CD rates tend to track the federal funds rate.

You might want to open a 6-month CD if you're looking for a way to lock in a high interest rate for half a year. According to the FDIC, the national average CD rate on a 6-month term is 1.61% APY ...

Business Insider's personal finance team compared Ally Bank CD rates to the best CD rates and found them to be above average. Ally Bank (Member FDIC) is known for operating entirely online.

If you're looking for a very short-term CD, a 3-month CD might be the right choice for you. You won't find 3-month CDs as easily as 6-month or 1-year CDs, as not every financial institution ...

The Fed held rates steady at its March Federal Open Market Committee meeting. Fed rates tend to impact CD rates, so it's expected that CD rates will stay relatively stable until the next Fed ...

Interest is compounded daily and is credited monthly. You can withdraw interest earned at any time during your CD term without penalty. CDs automatically renew at maturity. Synchrony customers ...

Lauren Graves is an educator-turned-editor specializing in personal finance content. She seeks to make complicated topics easier to understand and less intimidating to the average reader with ...

Business Insider's personal finance team checks the best nationwide financial institutions daily to help you find the right 5-year CD for you. The best 5-year CD rates are far higher than the ...

Business Insider's personal finance team compared Fidelity CDs to the best CD rates and discovered it was a standard offering. Its CD rates are generally strong, but they change often, and ...

Commissions do not affect our editors' opinions or evaluations. The best one-year CD rate is 4.45%, offered by CommunityWide Federal Credit Union. This account is the highest-rated on our list ...