The current national high for a 12-month CD is 5.37%, which would earn roughly $1,340 in interest with a $25,000 deposit. The national average APY is 1.63%, up three basis points from last week and nine basis points from a month before. One-year CDs can give you returns as high as, or even higher than, longer-term options. If you’re up for setting aside your savings for a full year, you’ll be able to find even more impressive rates. You’d earn almost $670 in interest if you put $25,000 in a six-month CD with a rate of 5.41%. But you may be able to find better deals by shopping around. The current top national rate for a 6-month CD is 5.41%, according to the data available from Curinos. The national average APY for six-month CDs is 1.37%, from 1.34% last week and 10 basis points from one month ago. The top six-month CDs can offer the best of both worlds: strong interest rates and a short-term commitment. The current national high for a three-month CD is 5.83%, which would earn more than $355 in interest with a $25,000 deposit. Over the past month, rates on three-month CDs have climbed by six basis points. Rates on three-month CDs have increased since last week, rising by one basis point to 0.92% today.
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