The best Certificate of Deposit rates:
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Certificate of Deposit loving savers got a little relief in 2018 as the Federal Reserve raised interest rates from their near historic loves. But the last of those hikes came in December and in this past March, most of the the Fed’s membersAt current interest rates, CDs won’t make you rich. But if you can grab the best CD rates on offer, you should be able to keep your money safely growing at near the inflation rate. In other words, your savings shouldn’t be losing value.
Where to get the best rate on a CD depends, which is why it behooves you to shop around. Big banks tend to be misers when it comes to deposit rates. They don’t need your business as bad as the online banks and aren’t as quick to raise rates after the Federal Reserve makes a move. Online banks are aiming to steal as much business as they can and will offer higher rates to meet that goal. It’s not just online banks that may be offering a competitive rate. Regional banks and credit unions are also competing for your banking dollars and will offer enticing rates on CDs.
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