Find out which certificate of deposit providers are recommended by leading financial sites
- Certificates of deposit (CDs) are offering impressive rates of return in 2024
- Average APY for 12-month CDs is 1.86%
- 10 leading financial sites recommend the best CD providers
- Top CD providers include Bread Financial, BMO Alto, Barclays, Marcus by Goldman Sachs, Popular Direct, Quontic Bank, Synchrony, First Internet Bank of Indiana, Ally Bank, and CFG Bank
- CD rates range from 4.15% to 5.55% APY
- Minimum deposit requirements vary from $0 to $1,500
- Early withdrawal penalties apply for most CDs
Certificates of deposit (CDs) have started 2024 with impressive rates of return, with some offering an annual percentage yield (APY) of 6% or higher. However, these high rates are often limited to select members or small deposit amounts. The average APY for 12-month CDs is just 1.86%. To help you find the best CD providers, we’ve analyzed recommendations from 10 leading financial sites, including Bankrate, Business Insider, CNBC Select, CNET, Fortune Recommends, Kiplinger, NerdWallet, SmartAsset, Time Stamped, and WalletHub. Here are the top CD providers recommended by these experts: 1. Bread Financial: Winner of 8 best-of awards, offering an APY of 4.25%-5.50% 2. BMO Alto: Winner of 6 best-of awards, offering an APY of 4.75%-5.55% 3. Barclays: Winner of 6 best-of awards, offering an APY of 4.15%-5.30% 4. Marcus by Goldman Sachs: Winner of 4 best-of awards, offering an APY of 0.35%-5.30% 5. Popular Direct: Winner of 4 best-of awards, offering an APY of 4.50%-5.45% 6. Quontic Bank: Winner of 4 best-of awards, offering an APY of 4.30%-5.30% 7. Synchrony: Winner of 4 best-of awards, offering an APY of 2.25%-5.50% 8. First Internet Bank of Indiana: Winner of 3 best-of awards, offering an APY of 4.18%-5.35% 9. Ally Bank: Winner of 3 best-of awards, offering an APY of 3.00%-5.25% 10. CFG Bank: Winner of 3 best-of awards, offering an APY of 4.25%-5.35% These CD providers offer competitive rates and have minimal hurdles to gain access. However, it’s important to note that early withdrawal penalties may apply for most CDs. Make sure to consider the minimum deposit requirements and terms before choosing a CD provider.
Public Companies: Bread Financial (null), BMO Alto (null), Barclays (null), Marcus by Goldman Sachs (null), Popular Direct (null), Quontic Bank (null), Synchrony (null), First Internet Bank of Indiana (null), Ally Bank (null), CFG Bank (null)
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Factuality Level: 8
Justification: The article provides information about different certificate of deposit providers and their rates, as well as details about terms, minimum deposits, and early withdrawal penalties. The information is sourced from reputable financial sites and the methodology for choosing the CD accounts is explained. However, the article does not provide any analysis or comparison of the rates and terms offered by the different providers, and it does not provide any context or explanation of what a certificate of deposit is or how it works.
Noise Level: 3
Justification: The article provides a list of recommended certificate of deposit providers and their rates. It includes information on terms, minimum deposits, maximum deposits, and early withdrawal penalties. The article also answers frequently asked questions about certificates of deposit and compares them to other similar products. Overall, the article stays on topic and provides relevant information for those interested in investing in CDs.
Financial Relevance: Yes
Financial Markets Impacted: The article provides information on the rates of return for certificates of deposit (CDs) offered by different financial institutions.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not mention any extreme events or events that impact financial markets or companies. It solely focuses on the rates of return for CDs.
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