"Maximize Your Savings: Top CD Rates Comparison - April 17, 2024"

Today's certificates of deposit offer higher rates than the FDIC national average, with some digital banks and online accounts offering over 5.05% APY on terms of 10 months or longer. The Federal Reserve's recent decision to maintain the federal funds target interest rate has left uncertainty about potential rate cuts, as inflation remains a concern. CD rates are influenced by the Federal Reserve's key interest rate, and the latest data shows steady or increasing rates on most terms. CDs offer guaranteed returns and higher rates than traditional accounts, but come with penalties for early withdrawals. Alternatives include high-yield savings accounts, money market accounts, and bonds.