Find the best high yield CD rates below or read the latest certificate of deposits analysis here.
Rates on certificates of deposit were unchanged in Bankrate's July 29 national survey of interest rates.
The average one-year CD yield was 0.27% for the 20th straight week. The average five-year yield was 0.87% for the sixth week in a row.
For the 12th consecutive week, the average one-year jumbo CD yield was 0.3%. For the third week in a row, the five-year jumbo yield was 0.91%. Jumbo CDs are typically sold for a $100,000 deposit.
The average money market account yield was 0.09%, where it has been for 42 straight weeks.
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A certificate of deposit, or CD, is one of the safest and most predictable investments around. As long as the CD is backed by the FDIC, it's guaranteed not to lose principal, and in most cases, investors can count on earning a stable return for the full term of the CD. Find out more about the factors that you need to consider when choosing a CD below.
The length of time until the CD matures and the money deposited within can be withdrawn without penalty.
Short for annual percentage yield, APY is the total return of the CD per year, taking into account the beneficial effect of compounding.
The percentage of the CD's principal paid out annually in interest. Does not take into account the effect of compounding.
The minimum amount of money you need to open a particular CD. Banks may be willing to pay higher rates of interest on CDs with higher minimum deposits.
Short for Federal Deposit Insurance Corporation, the FDIC is an independent government-backed agency that covers the deposits of accountholders at FDIC-insured banks. FDIC-insured deposits are backed by the full faith and credit of the U.S. government, and since the agency was established in 1933, no depositor has lost a single cent of insured principal.