"Maximizing Savings in 2024: Strategies for Securing Top CD Rates and High Yields"
TL;DR Summary
The start of 2024 sees a rise in 1-year CD rates, influenced by the Federal Reserve's rate hikes in the past two years. Financial institutions like CIBC Bank USA, Lending Club, and Popular Direct are offering competitive APYs, with rates as high as 5.66%. These CDs come with various minimum deposit requirements and early withdrawal penalties. With interest rates at a high, it's an opportune time for savers to lock in these rates for a short-term commitment, ensuring consistent returns for the year.
- 19 best 1-year CD rates for January 2024 CBS News
- Now May Be the Time to Lock In High Interest Rates on Your Savings The New York Times
- Can you earn 6% on a CD right now? CBS News
- CD rates forecast for 2024: Expect banner year for savers with strong yields, lower inflation rate Yahoo Finance
- Top CDs Today: 5.79% Remains the Best Rate Across All Terms Investopedia
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