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The federal funds rate is a key benchmark used by banks in setting their CD rates. When the federal funds rate goes up, banks will offer higher rates on CDs. These rates tend to drop when the ...

So what does that mean for CDs? Well, you can still lock in a yield. But the days of high CD rates are coming to an end. While each bank independently determines the CD yields it pays, several ...

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The key is to look around and be flexible. Quick tip. Do your own research! Settling for a CD at a bank you’re familiar with can cause you to miss out on the best yields available. Therefore ...

Commissions do not affect our editors' opinions or evaluations. Certificate of deposit (CD) rates are largely determined by the Federal Reserve rate. Historically, the Fed raises the interest rate ...

A CD can be thought of as a federally-insured savings account, but with a few key differences. Certificates of deposit (CDs) may pay higher interest rates but also lock your money in for a set term.

If you don’t know how often your CD earns interest, keep the frequency set to monthly. It’s important to learn a few key terms to understand your CD interest calculation. Initial deposit The ...

Rebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online.

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Daniel has 10+ years of experience reporting on investments and personal ...