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Rate Trends

CD

What is a CD?

A CD, or a Certificate of Deposit, is a fixed-term, fixed-rate account that has a minimum opening deposit (sometimes a maximum too). Once you've put your money into a CD, you will be penalized if you remove it before it matures. The longer the term the greater the annual percentage yield (APY), that is often higher to begin with than other savings and deposit options.

How to Read the Average Rate Chart

Interest rates vary based on the duration of a CD. This is an important consideration when you decide where to put your money. If you expect interest rates go down in the near future, CDs are a good place to put your money since you can lock in rates for the duration of your CD.

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NATIONAL OVERNIGHT AVERAGES
Source: Bankrate.com
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