Latest news with #MarcusByGoldmanSachs
Yahoo
10 hours ago
- Business
- Yahoo
Best CD rates today, June 8, 2025 (lock in up to 4.2% APY)
Find out how much you could earn by locking in a high CD rate today. A certificate of deposit (CD) allows you to lock in a competitive rate on your savings and help your balance grow. However, rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Historically, longer-term CDs offered higher interest rates than shorter-term CDs. Generally, this is because banks would pay better rates to encourage savers to keep their money on deposit longer. However, in today's economic climate, the opposite is true. As of June 8, 2025, CD rates are still competitive, particularly for shorter terms. Today, the highest CD rate is 4.2% APY, offered by Marcus by Goldman Sachs on its 9-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured. This embedded content is not available in your region.
Yahoo
a day ago
- Business
- Yahoo
Best CD rates today, June 7, 2025 (best account provides 4.2% APY)
Find out how much you could earn by locking in a high CD rate today. The Federal Reserve cut its federal funds rate three times in 2024, so now could be your last chance to lock in a competitive CD rate before rates fall further. CD rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Generally, the best CD rates today are offered on shorter terms of around one year or less. Online banks and credit unions, in particular, offer the top CD rates. As of June 7, 2025, CD rates are still competitive, particularly for shorter terms. Today, the highest CD rate is 4.2% APY, offered by Marcus by Goldman Sachs on its 9-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today: The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured.
Yahoo
18-05-2025
- Business
- Yahoo
Best CD rates today, May 18, 2025 (lock in up to 4.4% APY)
Find out how much you could earn by locking in a high CD rate today. A certificate of deposit (CD) allows you to lock in a competitive rate on your savings and help your balance grow. However, rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Historically, longer-term CDs offered higher interest rates than shorter-term CDs. Generally, this is because banks would pay better rates to encourage savers to keep their money on deposit longer. However, in today's economic climate, the opposite is true. Today, the highest CD rate 4.4% APY, offered by Marcus by Goldman Sachs on its 14-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly). Say you invest $1,000 in a one-year CD with 1.81% APY, and interest compounds monthly. At the end of that year, your balance would grow to $1,018.25 — your initial $1,000 deposit, plus $18.25 in interest. Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest. The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 4% APY, but deposit $10,000, your total balance when the CD matures would be $10,407.42, meaning you'd earn $407.42 in interest. Read more: What is a good CD rate? When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here's a look at some of the common types of CDs you can consider beyond traditional CDs: Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates go up during the account's term. However, you're usually allowed to "bump up" your rate just once. No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty. Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may not be much. Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured. This embedded content is not available in your region.
Entrepreneur
17-05-2025
- Business
- Entrepreneur
Top Savings Account Interest Rates Available Nationwide
Top Savings Account Interest Rates Available Nationwide Interest rates for savings accounts have reached new heights, offering consumers opportunities to grow their money faster than in recent years. Financial institutions... This story originally appeared on Due Top Savings Account Interest Rates Available Nationwide Interest rates for savings accounts have reached new heights, offering consumers opportunities to grow their money faster than in recent years. Financial institutions across the country are competing for deposits by offering attractive rates that significantly outpace inflation. The current savings rate environment marks a notable shift from the near-zero rates that dominated the banking landscape for much of the past decade. With the Federal Reserve's policy changes, savers now have access to accounts yielding returns that haven't been available since before the 2008 financial crisis. Online Banks Lead the Rate Race Digital-only banks continue to offer the most competitive savings rates nationwide, with some institutions providing annual percentage yields (APYs) exceeding 5%. These online banks typically operate without physical branches, allowing them to pass overhead savings to customers through higher interest rates. Marcus by Goldman Sachs, Ally Bank, and Discover are among the online institutions offering top-tier rates without geographic restrictions. Their high-yield savings accounts typically feature no minimum balance requirements and zero monthly maintenance fees. "The online banking model has fundamentally changed how Americans save," notes a banking analyst quoted in the transcript. "Customers no longer need to live near a specific bank to access its best rates." Regional Banks and Credit Unions Enter the Competition While online banks often grab headlines for their rates, regional banks and credit unions have stepped up their offerings as well. Many local institutions now provide special savings products with competitive rates that rival their online-only counterparts. Credit unions in particular have responded to market pressures by introducing high-yield accounts for members. Since these institutions operate as not-for-profit organizations, they frequently return value to members through better interest rates and lower fees. Features Beyond Interest Rates The highest-yielding accounts share several common features that savers should consider: FDIC or NCUA insurance protection (up to $250,000 per depositor) No or low minimum balance requirements User-friendly mobile banking platforms Easy fund transfers between external accounts Minimal or no monthly maintenance fees Banking experts recommend looking beyond the headline rate when choosing a savings account. "The best account isn't always the one with the absolute highest rate," explains a financial advisor mentioned in the source material. "Consider how you'll use the account and what features matter most to your situation." Rate Comparison Strategies Financial experts suggest several approaches for finding and comparing the best savings rates: Rate-tracking websites like Bankrate and NerdWallet provide updated comparisons of the highest-yielding accounts nationwide. These platforms allow consumers to filter options based on their priorities, whether that's the absolute highest rate or specific account features. Another strategy involves setting up accounts at multiple institutions to take advantage of different promotional rates and account features. This approach, sometimes called "rate chasing," can maximize returns but requires more active management. For savers concerned about rate volatility, some institutions offer rate guarantees for specific periods, though these accounts may have more restrictions than standard savings products. The current high-rate environment presents a prime opportunity for savers to reassess where they keep their emergency funds and short-term savings. With inflation concerns still present in the economy, finding accounts that offer competitive yields has become an important financial strategy for preserving purchasing power. As interest rates continue to evolve with economic conditions, consumers who remain attentive to the market stand to benefit the most from this favorable savings landscape. The post Top Savings Account Interest Rates Available Nationwide appeared first on Due.
Yahoo
17-05-2025
- Business
- Yahoo
Best CD rates today, May 16, 2025 (up to 4.4% APY return)
See which banks are currently paying the highest CD rates. If you're looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about CD rates today and where to find high-yield CDs with the best rates available. Today's CD rates vary quite a bit. In general, however, CD rates are beginning to decline due to the Fed's decision to cut its benchmark rate three times in the later part of 2024. Even so, some banks are still offering competitive CD rates. For those that are, top rates reach about 4% APY. This is especially true for shorter terms of one year or less. Today, the highest CD rate 4.4% APY, offered by Marcus by Goldman Sachs on its 14-month CD. There is a $500 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. Compare these rates to the national average as of April 2025 (the most recent data available from the FDIC): Compared with today's top CD rates, national averages are much lower. This highlights the importance of shopping around for the best CD rates before opening an account. Online banks and neobanks are financial institutions that operate solely via the web. That means they have lower overhead costs than traditional brick and mortar banks. As a result, they're able to pass those savings on to their customers in the form of higher interest rates on deposit accounts (including CDs) and lower fees. If you're looking for the best CD rates available today, an online bank is a great place to start. However, online banks aren't the only financial institutions offering competitive CD rates. It's also worth checking with credit unions. As not-for-profit financial cooperatives, credit unions return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements that are limited to those who belong to certain associations or work or live in certain areas, there are also several credit unions that just about anyone can join. Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe and stable savings vehicle — they don't lose money (in most cases), are backed by federal insurance, and allow you to lock in today's best rates. However, there are some drawbacks to consider. First, you must keep your money on deposit for the full term, otherwise you'll be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better choice. Additionally, although today's CD rates are high by historical standards, they don't match the returns you could achieve by investing your money in the market. If you're saving for a long-term goal such as retirement, a CD won't provide the growth you need to reach your savings goal within a reasonable time frame. Read more: Short- or long-term CD: Which is best for you? This embedded content is not available in your region.
