High CD rates available, with NexBank offering 4.4% APY for 1-year CD

From Yahoo Finance: 2025-05-24 06:00:00

Lock in a high CD rate before they fall further. Shop around for the best rates as they vary widely. Shorter terms offer the best rates, especially from online banks and credit unions. NexBank currently offers the highest CD rate at 4.4% APY for a 1-year CD with a $25,000 minimum deposit.

Calculate your potential earnings with different CD rates. A 1-year CD at 1.81% APY with monthly compounding yields $18.25 in interest on a $1,000 investment. Opting for a 4% APY CD would generate $40.74 in interest, showcasing the impact of higher rates on earnings.

Consider factors beyond interest rates when choosing a CD. Explore different types like Bump-up CDs, No-penalty CDs, Jumbo CDs, and Brokered CDs. Each type offers unique benefits, such as the ability to increase your rate with a Bump-up CD or withdraw funds penalty-free with a No-penalty CD.



Read more at Yahoo Finance: Best CD rates today, May 24, 2025 (best account provides 4.4% APY)