From Fortune:

Summary: Investing in certificates of deposit (CDs) is a balanced and secure way to earn returns. Evaluating data from over 20,000 data points from North Carolina banks and credit unions, we’ve chosen CDs with the most attractive annual percentage yields (APYs) through our partnership with Curinos. These selected CDs offer a secure and profitable investment opportunity.

Summary: These selected CDs, backed by the solid protection of Federal Deposit Insurance Corp. (FDIC) or National Credit Union Administration (NCUA) insurance, present an excellent opportunity for secure and profitable investment in the state. We’ve sourced data from financial institutions nationwide to pinpoint those offering the best CD rates, bringing competitive and accessible interest rates to the table.

Summary: In our analysis of North Carolina’s CD rates, we’ve categorized top picks for 6-month, 1-year, and 5-year terms, thanks to data from Curinos. Choosing a 6-month, 1-year, or 5-year CD provides various options to save money and earn interest based on your financial objectives and commitment length.

Summary: A certificate of deposit (CD) is a time-bound savings account offered by financial institutions. The safety of CDs lies in FDIC or NCUA insurance, which covers up to $250,000. APY stands for “annual percentage yield” and reflects the interest rate over a year, accounting for compounding.

Summary: CDs come in traditional, brokered, and no-penalty types. When choosing the best CD in North Carolina, consider the term length, APY, minimum deposit, penalties, and deposit insurance. Term length plays a significant role in determining the interest you’ll earn, as well as which banks and credit unions offer competitive rates.



Read more: The best CD rates for North Carolina in January 2024