High-Yield Savings and CD Rates Offer Historic Earning Potential

As banks compete for customer dollars, high-yield savings accounts and CDs present attractive options for savers looking to maximize returns.

Banks are currently offering competitive rates for high-yield savings accounts and CDs, with some APYs topping 5%.
The Federal Reserve's decision to maintain the federal funds target interest rate has kept savings rates at historic highs.
High-yield savings accounts are recommended for flexibility and short-term goals, while CDs are ideal for locking in rates for longer terms.
Online and digital banks are leading the charge with the highest available rates due to lower overhead costs.
Experts advise against constantly chasing the highest rates, recommending a focus on competitive rates and reputable institutions instead.