Comparing CD and Savings Account Rates: October 2023 Update
TL;DR Summary
Banks and credit unions have maintained steady CD rates ahead of the holiday weekend, offering record-high returns ranging from 5.75% to 6.00% APY. Credit Human leads with a customer-friendly CD rate of 6.00% APY for terms between 12 and 17 months. The Federal Reserve's recent rate hold suggests a pause to assess the impact of previous hikes, but further rate increases are still possible. CD rates are expected to rise if the Fed decides to increase rates again.
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