"High-Yield Savings and CD Accounts: Latest Rates and Top Picks"

Some banks are offering rates over 5.00% APY for short-term CDs and high-yield savings accounts, making them good low-risk options backed by FDIC or NCUA insurance. My Banking Direct stands out for pushing its savings account up to 5.00% APY. However, long-term CD rates aren't nearly as high as short-term CD rates, and most banks are reserving their highest rates for CD terms of two years or less. Choosing between a short-term CD and a high-yield savings account depends on when you'll need the money and your goal for the funds.