Maximize Your Savings with High-Yield CDs: November 2023 Update

With the Federal Reserve increasing interest rates, 1-year CDs now offer impressive returns of 5.50% APY or higher. Investing $15,000 in a 1-year CD can help combat inflation and provide a safe investment option with FDIC or NCUA insurance. CDs don't have maintenance fees and some of the best rates currently beat inflation, allowing for a positive inflation-adjusted return. With high interest rates, earnings on CDs can be substantial, with the potential to earn as much as $850.50. It is recommended to take advantage of these high rates and lock them in by investing in a 1-year CD now.