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Best CD Rates in Connecticut, Michigan, and Ohio for December 2023

Data from Curinos identifies top CDs based on highest annual percentage yields, with FDIC or NCUA insurance providing coverage up to $250,000.

Overview

  • Certificates of deposit (CDs) offer attractive returns with low risk, with funds committed for a fixed period in exchange for a fixed interest rate.
  • CDs and share certificates are considered deposit accounts, making them eligible for FDIC or NCUA insurance that provides coverage on balances up to $250,000.
  • Data from Curinos has been used to identify the best CDs in Connecticut, Michigan, and Ohio, based on the highest annual percentage yields (APYs).
  • CDs come in various types, including traditional, brokered, and no-penalty CDs, each offering different benefits and drawbacks.
  • Choosing the best CD involves considering factors such as term length, APY, minimum deposit requirements, early withdrawal penalties, and deposit insurance.