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Top CD rates today, May 8, 2025

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  We've rounded up today's highest available CD rates, many of which are above 4% APY.

The article from Fortune discusses the current state of Certificate of Deposit (CD) rates, highlighting that some banks are now offering rates as high as 5.8% to 8.25% APY, which is significantly higher than the national average of 1.76% APY for a 12-month CD. These high rates are being offered by smaller banks and credit unions, such as American 1 Credit Union and Alpena Alcona Area Credit Union, which are using attractive CD rates to attract new customers and deposits. The article advises consumers to shop around for the best rates, consider the terms and conditions, and be aware of potential penalties for early withdrawal, as these high-yield CDs can be a good option for saving money, especially in a rising interest rate environment.

Read the Full Fortune Article at:
[ https://fortune.com/article/cd-rates-5-8-25/ ]