CD Rates in California for December 2024
Updated December 1, 2024
California residents looking to grow their savings will find a suitable option in certificates of deposit (CDs), which are offering stellar yields. These deposit accounts are relatively low risk as they are insured by the Federal Deposit Insurance Corp. (FDIC) and guarantee a return during the duration of the CD's term. Here's how to find the best CDs in California.
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The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.