Abuja News: Current CD Rates – Six-month certificates of deposit (CDs) currently offer some of the best CD rates available, outperforming longer-term CDs. Presently, a 6-month CD can yield 4.50%. Investing $10,000 at this rate would garner you $222.52 in six months. However, the Federal Reserve anticipates reducing rates by mid-2025, so these favourable rates may not last.
Exploring alternatives, high-yield savings accounts offer similar rates with more flexibility, boasting returns between 3.60% and 4.40%. This makes them an ideal option for emergency savings due to their liquidity. CDs could still be suitable if you aim to lock in today’s rates and don’t anticipate needing funds soon.
Key Takeaways:
- 6-Month CDs currently yield higher returns than longer-term CDs.
- Federal Reserve plans indicate CD rate reductions by mid-2025.
- High-yield savings accounts are flexible alternatives with competitive rates.
Question: Are you considering investing in a 6-month CD? What factors influence your decision? Share your thoughts below!
