CDs Now: Lock in Higher Rates Before They Drop

Explore the benefits of Certificates of Deposit (CDs) now, as the Federal Reserves interest rate cuts may soon lower CD rates. A two-year CD from United Fidelity Bank offers a 4.25% APY, with the best rates typically found on shorter terms from online banks or credit unions. Investing $1,000 at this rate could earn you $40.74 in interest after one year, or over $400 with a $10,000 investment. Consider different CD types, such as bump-up, no-penalty, jumbo, or brokered CDs, to find the best fit for your savings. Locking in todays higher returns is a smart move before rates become less favorable.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.