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Best CD Accounts | September 2021

Certificates of deposit (CD) are savings accounts that hold a fixed amount of money for a set period of time that typically range from six to five years. They are considered to be one of the safest savings options because they are federally insured up to $250,000. This guide will help you find the best cd rates available.

CDs offer some of the highest interest rates available for federally insured bank accounts, and the rate is guaranteed for the duration of the CD term. The best CD rates tend to be at online banks and credit unions. Admittedly, CD rates are much lower since the Federal Reserve's emergency rate cuts in response to the pandemic. However, you can still find high-yield interest rates if you know where to look.

If you have some money you don't need to access immediately, CDs can provide a risk-free strategy to build your savings. This can be a good idea if you are saving for a big purchase, such as a mortgage downpayment or a new vehicle, and don't want to risk losing your savings.

Here's a look at some of the CDs with the highest rates available.

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