Rising Interest Rates Boost Returns on 3-Year and Short-Term CDs

Federal Reserve's rate hikes lead to higher APYs, with top 3-year CDs offering over 4.5% and short-term CDs also proving beneficial for savers.

Interest rates on 3-year CDs have risen significantly due to the Federal Reserve's rate hikes over the last 18 months, with some rates well above 4.5%.
Top 3-year CDs for December 2023 include offerings from Workers Credit Union (5.50% APY), Luana Savings Bank (5.32% APY), and SouthEast Bank (5.25% APY).
Short-term CDs can also be a good investment, offering impressive returns and helping to achieve short-term savings goals.
Short-term CDs can be a safe place to store money, with most CDs being FDIC or NCUA insured for up to $250,000.
Financial experts advise comparing options before opening a CD, as financial institutions operate independently and set their own rates.