Overview

• Short-term CDs from credit unions and online banks offer rates up to 5.5% APY with varying deposit requirements.
• Top high-yield savings accounts boast rates around 5.25% APY with perks like no monthly fees and ATM access.
• One-year CD rates at certain banks climb over 5%, providing stability amid stock market volatility.
• Experts recommend allocating emergency funds to high-yield savings and extra cash to CDs.
• Savers should compare minimum deposits, withdrawal rules, and other features when choosing between savings accounts and CDs.