Today’s Best High-Interest CDs and Best Savings Accounts: June 25, 2023
In today’s uncertain economic climate, finding the best ways to grow your savings is essential. Luckily, there are plenty of high-yield savings accounts and certificates of deposit (CDs) available that can help you achieve your financial goals. In this article, we will explore some of the best high-interest CDs and savings accounts available as of June 25, 2023.
High-Interest CDs:
1. Ally Bank: Ally Bank offers highly competitive rates for their CDs, making them a top choice for many savers. They offer a variety of terms ranging from three months to five years. As of June 25, 2023, Ally Bank offers a 5-year CD with an annual percentage yield (APY) of 2.75%.
2. Marcus by Goldman Sachs: Marcus by Goldman Sachs is renowned for its excellent customer service and high-yield savings options. They offer CDs with terms ranging from six months to six years. Currently, Marcus by Goldman Sachs has a 3-year CD with an APY of 2.50%.
3. Discover Bank: Discover Bank is known for its flexible CD options and competitive rates. They offer CDs with terms ranging from three months to ten years. As of June 25, 2023, Discover Bank has a 2-year CD with an APY of 2.35%.
Best Savings Accounts:
1. CIT Bank Savings Builder: CIT Bank’s Savings Builder account is an excellent option for those looking to grow their savings rapidly. They offer a competitive APY of 2.30%. To qualify for this rate, you need to either maintain a balance of $25,000 or make a $100 monthly deposit.
2. Varo Bank Savings Account: With no monthly fees and competitive rates, Varo Bank’s Savings Account is an excellent choice for those looking to save without any hassle. Varo Bank offers a competitive APY of 2.20% on all balances.
3. Capital One 360 Performance Savings: Capital One 360 Performance Savings is another top contender in the savings account space. They offer a high APY of 2.00%. Additionally, there are no monthly fees or minimum balance requirements.
It’s important to note that interest rates can change frequently, so it’s always wise to research and compare rates before opening any accounts. Additionally, be aware of any fees or restrictions associated with these accounts.
When choosing between high-yield CDs and savings accounts, it’s essential to consider your financial goals and needs. CDs generally offer higher interest rates but are less liquid, as you have to keep your money invested for a specified term. Savings accounts, on the other hand, offer easier access to your funds but may have lower interest rates.
In conclusion, by taking advantage of high-interest CDs and savings accounts, you can make the most of your hard-earned money and build a secure financial future. Consider the options mentioned above and conduct further research to find the best fit for your specific goals and circumstances.
