"Maximizing Returns: Navigating CD Moves in a High Inflation Environment"

1 min read
Source: CBS News
"Maximizing Returns: Navigating CD Moves in a High Inflation Environment"
Photo: CBS News
TL;DR

With inflation still high, savers are advised to consider opening a CD account to earn better returns than regular savings accounts, as the average interest rate on a regular savings account is just 0.47% while CD rates can go as high as 7% for some qualified savers. It's recommended to explore CD account options, consider laddering accounts to take advantage of potential rate increases, and mix up account types by also considering high-yield savings accounts to maximize returns while maintaining access to funds.

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