Comparing CD Interest Rates and Yields in June 2023.
Certificates of deposit (CDs) can offer higher interest rates for savers today, with short-term CDs often having higher rates than longer-term accounts due to the inverted yield curve. Online banks typically offer higher rates than traditional banks, and laddering CDs with varying term lengths can help maximize earnings while still saving for the long-term. Current national average CD rates as of June 5, 2023, include 1-year CD yield at 1.71% APY and 5-year CD yield at 1.22% APY, but top rates from various banks can reach up to 5.10% APY for 6-month CDs and 5.22% APY for 1-year CDs.