6 articles | last updated: Jul 11 22:05:04
With the Federal Reserve expected to cut rates soon, now is the time to secure top returns on savings and CDs.
- Current high-yield savings accounts offer up to 5.55% APY, the highest in 20 years.
- Certificates of deposit (CDs) provide fixed rates up to 6.00% APY for terms as short as 10 months.
- The Federal Reserve has held rates steady but may cut as early as September, affecting future returns.
- Digital banks and online-only accounts lead in offering the best rates with low or no minimums.
- Consider locking in multi-year CD rates to benefit from today's high returns before they drop.
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- Federal Reserve System Central bank
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