In turn, it's created record rate conditions for CD shoppers, as well as for anyone holding cash in a high-yield savings or money market account. That raises the benchmark rate to its highest level since 2001. On July 26, the Fed bumped rates for the 11th time in 12 meetings, taking the cumulative increase to 5.25%.
The Fed has been aggressively combating decades-high inflation since March of last year, with fast-and-furious 2022 hikes to the federal funds rate, and then easing to more moderate increases in 2023. So always be sure to shop every certificate type before making a final decision. 2 days ago &0183 &32 In addition, CD accounts with FDIC-insured banks or NCUA-insured credit unions are protected up to 250,000 per person, per institution if the bank fails. United Fidelity Bank, fsb 0.60 10,000 - Learn More. Compare the highest CD rates by APY, minimum balance, and more. Though today's best jumbo offers, which typically require a deposit of $100,000 or more, beat the best standard rates in six CD terms, you can do just as well or better in the other two terms with a standard CD. Compare the best One-year CD rates in Florida, FL from hundreds of FDIC insured banks. Despite the suggestion that a larger deposit entitles you to a higher return, that's not always the case for jumbo certificate rates, which often pay less than standard CDs.
