Maximizing CD Investments: Expert Insights and Top Rates for July 2023

Investing $1,000 in a one-year CD can be a safe and worthwhile option, with the potential to earn different amounts depending on the interest rate. CDs that pay competitive rates, commonly found at online banks, can earn around $52 in interest, while CDs that pay the national average rate earn around $15.90. On the other hand, CDs from big brick-and-mortar banks typically offer rock-bottom rates, earning only around $0.30 in interest. It's important to shop around for the best rates and consider factors like minimum deposit requirements before choosing a CD.