Do you want to know what are the best CD rates that you can open in the United States in 2023? Alfredo Barandiarán analyzes for Responsible Economy the best banks to open a certificate of deposit. You have all the information on each CD, a ranking with the best and all the features. Welcome!
Video with 10 best Certificate of deposit
Here you have a complete video with the best certificate of deposit you can open in 2023:
Ranking best CD rates in 2023
The first thing we do is show you a ranking with the best banks to open a CD. Later we show you into detail about each bank:
- 5% APY
- Minimum deposit: $0
- Term: 11 months
- Member FDIC
- 4,40% APY
- Minimum deposit: $5000
- Term: 12 months
- Member FDIC
- 4,65% APY
- Minimum deposit: $1000
- Term: 13 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $0
- Term: 14 months
- Member FDIC
- 4,60% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,55% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $0
- Term: 12 months
- Member FDIC
- 4,50% APY
- Minimum deposit: $1000
- Term: 12 months
- Member FDIC
How to choose the best CDs
We have made a list with all the variables that you must know to open the best CD:
- Terms: All deposits have a term. You must know that term before opening a CD to avoid penalties.
- Fees: There are CDs that charge commissions. You have to open CDsthat do not charge any commission. There are many banks that offer free CDs.
- Penalties: If you withdraw the money before the agreed term you will have a penalty. You should also know that there are banks that do not have penalties but the yield is lower.
- APY: The interest rate is undoubtedly the most important variable. The more yield the deposit has, the more benefits you will have.
- FDIC: FDIC insures you $250,000 per owner in the CDs you have at each bank. It is very important to only open Certificates of Deposit at banks that are subject to the FDIC.
Frequent questions
Now we answer all the questions you may have about CDs:
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Updated the day 16 March, 2023 by Alfredo Barandiarán
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