A is a type of savings account that holds a fixed amount of money for a set period—such as six months, one year, or five years—at a fixed interest rate. In exchange for "locking" your funds, the bank typically pays a higher yield than a standard savings account. Core Mechanics
As of late April 2026, top-tier CD rates remain competitive, though they vary significantly by term: Highs around 4.38% to 4.94% APY. Mid-Term (1-Year): Top rates reach roughly 4.84% APY. Long-Term (3-5 Years): Rates hover around 4.04% APY. Pros and Cons certificates of deposits
CDs are considered extremely low-risk because they are federally insured (up to $250,000) by the FDIC for banks or the NCUA for credit unions. Current Market Trends (April 2026) A is a type of savings account that
Accessing funds before maturity usually triggers a fee, often calculated as several months of interest. Mid-Term (1-Year): Top rates reach roughly 4
You commit to leaving your money untouched until the maturity date .
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