High Interest Rate Environment Makes CDs Attractive Investment

With returns over 5% for 6-month and 1-year CDs, experts suggest now is the time to lock in high rates.

CDs are currently offering impressive returns, with the best 6-month and 1-year CDs paying over 5% returns.
In the current high interest rate environment, opening a CD now allows you to lock in these high rates for the entire term of the account.
CDs are considered safe savings vehicles, with returns guaranteed regardless of market or economic conditions, and are typically insured by the FDIC or NCUA.
CDs can be a useful tool for meeting short-term savings goals, as early withdrawal typically incurs a penalty, discouraging premature use of the funds.
Experts do not expect CD rates to increase in 2024, making now a potentially optimal time to lock in a high rate.