Right now 1 year CD's are paying 5+% interest.
If you're considering moving some of your savings to them, before you invest, ask your broker about an "exception" to the lower interest rate you are currently getting with regular savings.
My bank matched the CD interest rate of a competitor applying the rate to my regular savings account. Over 4% increase & money isn't tied up for 1 yrs.
Interest rates won't be staying this high forever. Seek opportunities now while you can.
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@CherNohio my credit union has been offering some good rates on CDs. Been taking advantage of them.
@buzzkill58
Yes, they are great investment tools if you don't mind tying up the funds for the term of the CD. I've had a number of them over the years.
If you are able to secure the exception interest rate like I did (explained in post), the same interest rate applies longer term and the funds are available whenever needed.
Just threw that out there for those who may not know to ask the investment adviser/broker if that rate exception is available at their bank.