"Maximize Your Savings: Top CD Rates for April 2024"

1 min read
Source: CBS News
"Maximize Your Savings: Top CD Rates for April 2024"
Photo: CBS News
TL;DR Summary

Opening a certificate of deposit (CD) account in April could be advantageous as it allows savers to lock in high interest rates before potential reductions later in the year. With CD interest rates currently hovering close to 6%, savers can potentially earn hundreds or thousands of dollars on their money, outpacing the inflation rate. The Federal Reserve's upcoming meeting at the end of April may lead to rate cuts, making it an ideal time to open a CD now. Additionally, traditional savings accounts are yielding minimal returns, making it beneficial to switch to a high-earning CD.

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