What are current interest rates for CDs?

Saving in an inflationary economy can be difficult, but certificates of deposit (CDs) offer a solution with higher returns that can exceed current inflation rates. Investors can lock in these rates for terms of up to 10 years, with FDIC or NCUA insurance covering balances up to $250,000. Current national average CD rates vary, with one-year CDs yielding around 1.89% APY and top rates significantly higher from online banks. Strategies for securing the best rates include considering short-term CDs and leveraging online banking options.

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