Discover how annual percentage yield (APY) impacts your CD investments and learn to compare rates for maximizing returns, with tips on calculating and understanding APY.

Discover how CDs work, offering secure savings with fixed interest rates. Learn about terms, early withdrawal penalties, and how they compare to other accounts.

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Thanks to inflation and a higher federal funds rate, certificate of deposit (CD) interest rates have increased exponentially in recent years. CD interest rates barely broke 1% a few years ago. By ...

A certificate of deposit rollover is the process of transferring money from an existing CD into a new one as soon as it ...

A CD’s minimum balance is the minimum deposit needed to open it. The minimums vary by bank or credit union, and even by various CD products within the same financial institution. Banks set minimum ...

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Today's highest CD rate is 4.94% for a jumbo 6-month CD. CD rates from online banks are commonly twice as high as the ...

Kelly is a former editor for CNET Money covering banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and ...