Overview

• Flagstar Bank and Poppy Bank lead with savings rates of 5.55% and 5.50% respectively, offering rate guarantees.
• Digital banks provide competitive savings rates exceeding 5.10% APY, with low or no minimum deposits.
• Certificates of Deposit (CDs) offer fixed returns up to 5.35% APY, with terms extending into 2025 and beyond.
• The Federal Reserve's anticipated rate cuts make locking in current high rates a strategic move.
• Online banks and fintechs offer higher rates due to lower overhead costs compared to traditional banks.