Conversation with Merlin [email protected] · Sat Nov 25 2023

give a 5 bank that have highest rate for cdc must be under fdic

Here are five banks that offer high CD rates and are FDIC-insured:

  1. TotalDirectBank - CD at 5.66% APY for 3 months
  2. CommunityWide Federal Credit Union - CW Certificate Account at 5.50% APY for 6 months
  3. CommunityWide Federal Credit Union - CW Certificate Account at 5.60% APY for 12 months
  4. PenFed Credit Union - Money Market Certificates at 4.60% APY for 24 months/2 years
  5. First National Bank of America - Certificates of Deposit at 4.80% to 4.85% APY for 24 to 60 months/2 to 5 years

Highest CD Rates Banks and credit unions offering the best CDs pay higher APYs or dividend rates relative to the national average rates. Of the numerous nationwide institutions we monitor, here are the top CD rates by term. 3 Months: TotalDirectBank CD at 5.66% APY 6 Months: CommunityWide Federal Credit Union CW Certificate Account at 5.50% APY 12 Months: CommunityWide Federal Credit Union CW Certificate Account at 5.60% APY 24 Months/2 Years: PenFed Credit Union Money Market Certificates at 4.60% APY, First National Bank of America Certificates of Deposit at 4.80% APY and Marcus by Goldman Sachs at 4.85% APY 36 Months/3 Years: First National Bank of America Certificates of Deposit at 4.85% APY 48 Months/4 Years: First National Bank of America Certificates of Deposit at 4.80% APY 60 Months/5 Years: First National Bank of America Certificates of Deposit at 4.75% APY Rates are based on a $25,000 minimum deposit and are accurate as of November 20, 2023. Best CDs With High Rates 2023 According to the FDIC, average APYs on CDs with terms spanning from one month to five years ranged from 0.23% to 1.85% as of November 20, 2023. Todays best CD rates are far higher. Weve compared 142 CD and certificate accounts at 84 nationally available banks and credit unions to find some of the best CD providers in the U.S. Annual percentage yield (APY) is the most important factor we consider when comparing CD rates, but its not the only metric we look at when reviewing and comparing CD providers. Thats why our top picks might not align with the list of highest CD rates at the top of this guide. Read on to learn why we picked each accountincluding their pros and consand to access individual bank reviews. You can also view the best CD rates for specific term lengths. Annual percentage yields (APYs) and account details are accurate as of November 20, 2023. Connexus Credit Union Share Certificate Annual Percentage Yield Minimum Deposit Requirement Terms Annual Percentage Yield Minimum Deposit Requirement Terms Why We Picked It Connexus Credit Union pays some of the highest yields available on its share certificates (which would be called CDs at a bank). Five share certificate terms are available: 12 months, 24 months, 36 months, 48 months and 60 months, with APYs ranging from 3.91% to 5.41%. Theres also a 17-month Special certificate that offers 5.41% APY. The minimum deposit is $5,000. Connexus also ranks well for digital experience. Its mobile app is rated highly on both the App Store and Google Play. Unlike some credit unions, Connexus doesnt require you to open a checking account in order to open a share certificate. It does, however, require credit union membership. If you dont qualify under the regular group and geographic categories of membership, you can become eligible to be a member of the credit union by making a one-time $5 donation to the Connexus Association. Read our full Connexus Credit Union Review. Pros & Cons Competitive rates on its share certificates Highly rated mobile app No checking or savings account required to open a share certificate $5,000 minimum deposit required to open Dividends compounded quarterly Details The yields earned on credit union accounts are referred to as dividends rather than interest. At Connexus, dividends are compounded and credited to your account quarterly. Early withdrawal penalties vary by term. Share certificates automatically renew at maturity, and theres a 10-day grace period after maturity to withdraw funds. All members are required to have a Connexus savings account, with a minimum deposit of $5. First National Bank of America Certificates of Deposit Annual Percentage Yield Minimum Deposit Requirement Terms Annual Percentage Yield Minimum Deposit Requirement Terms Why We Picked It First National Bank of America (FNBA) has seven CD termsranging from six months to 84 monthswith competitive APYs from 3.05% to 5.15% and a relatively low minimum deposit requirement of $1,000. CDs from FNBA may be p

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We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more. To find you the best CD rates nationwide, we review CD rates from hundreds of banks and credit unions every weekday morning. Right now, the best CD rate across all terms is 6.00% APY, which is being offered by Securityplus Federal Credit Union until Nov. 30, 2023. Below are the top CD rates available from our partners, followed by the best CD rates that we've found from our research that are available to U.S. customers everywhere. In the News Todays CD rates are higher than weve seen in more than 20 years, pushed up by the Federal Reserves rate-hike campaign that began in March 2022 to tame decades-high inflation. Though the Fed held its benchmark rate steady for a second consecutive meeting on Nov. 1after 11 hikes in the previous 12 meetingsit has indicated that an additional increase is still on the table. CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still. Drawn from our continuous research on the approximately 200 banks and credit unions that offer CDs nationwide, these certificates typically pay three to five times as much as the national averageor even more. To be eligible for our rankings, each CD's minimum opening deposit requirement cannot exceed $25,000 and must be offered by an FDIC-insured bank or NCUA-insured credit union (which covers up to $250,000 per depositor). In cases where more than one institution offers the same top rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum opening deposit, and if there's still a tie, we sort alphabetically by institution name. BEST CD RATES NOVEMBER 2023 Ranked by highest APY, then shortest term, then lowest minimum Best 3-Month CDs Rate Term Minimum TotalDirectBank 5.66% APY 3 months $25,000 Dow Credit Union 5.65% APY 3 months $500 BECU 5.60% APY 35 months $500 For more options, see our in-depth 3-month CD rankings Best 6-Month CDs Rate Term Minimum Securityplus Federal Credit Union 6.00% APY* 8 months $1,000 West Town Bank & Trust 5.88% APY 7 months $10,000 TotalDirectBank 5.76% APY 6 months $25,000 For more options, see our in-depth 6-month CD rankings Best 1-Year CDs Rate Term Minimum West Town Bank & Trust 5.77% APY* 11 months $10,000 Dow Credit Union 5.76% APY 13 months $500 INOVA Federal Credit Union 5.75% APY 10 months $200 For more options, see our in-depth 1-year CD rankings Best 18-Month CDs Rate Term Minimum Seattle Bank 5.80% APY 18 months $1,000 First Harvest Credit Union 5.75% APY 15 months $1,000 Alabama Credit Union 5.71% APY 15 months $10,000 For more options, see our in-depth 18-month CD rankings Best 2-Year CDs Rate Term Minimum Newtek Bank 5.60% APY 24 months $2,500 Luana Savings Bank 5.52% APY 24 months $2,000 Vibrant Credit Union 5.50% APY 23 months $5 For more options, see our in-depth 2-year CD rankings Best 3-Year CDs Rate Term Minimum Workers Credit Union 5.50% APY 36 months $500 Luana Savings Bank 5.37% APY 30 months $2,000 SouthEast Bank 5.25% APY 36 months $1,000 For more options, see our in-depth 3-year CD rankings Best 4-Year CDs Rate Term Minimum BMO Alto 5.20% APY 48 months $0 Wellby Financial 5.13% APY 48 months $1,000 Farmers Insurance Federal Credit Union 5.00% APY 48 months $1,000 For more options, see our in-depth 4-year CD rankings Best 5-Year CDs Rate Term Minimum BMO Alto 5.25% APY 60 months $0 Workers Credit Union 5.25% APY 60 months $500 The Federal Savings Bank 5.12% APY 60 months $5,000 For more options, see our in-depth 5-year CD rankings Best 6- to 9-Year CDs Rate Term Minimum First National Bank of America 4.60% APY 6 years $1,000 Department of Commerce Federal Credit Union 4.44% APY 57 years $25,000 Luana Savings Bank 4.30% APY 6 years $2,000 KS State Bank 4.06% APY 7 years $500 INOVA Federal Credit Union 4.00% APY 6 years $200 Marcus by Goldman Sachs 4.00% APY 6 years $500 Ap

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If you want to earn some extra money but are risk-averse when it comes to your hard-earned cash, consider signing up for a certificate of deposit (CD) or share certificate at a bank or credit union. As long as your financial institution is covered by FDIC or NCUA insurance, your money is safe up to $250,000 per depositor. With CDs, you tie up your savings for a fixed term. In exchange, you get interest rates that outpace what traditional savings accounts offerright now, some CDs offer rates that exceed 5%. So, if youre ready to part with your cash and earn more, the Fortune Recommends editorial team has rated and ranked the best CDs. Check out our complete methodology here. The highest current CD rates for our top picks* *Above rates are current as of November 20, 2023 The 10 best CD rates overall Heres our rundown of the top 10 CDs, including the key figures you should know before you open an account. Note: APYs are current as of November 20, 2023, but are subject to change. 1. MYSB Direct: For savers interested in saving for the long run About: MYSB Direct, a.k.a. M.Y. Safra Bank, is headquartered in New York City and operates a single branch there. Its products include personal checking and savings accounts, lending services, and more. Key numbers Term lengthAPY1-year CD5.51%3-year CD5.05%5-year CD4.90% Minimum opening deposit: $500 Why we picked it If you want a safe place to put money that youll need a few years from now, consider opening a 5-year CD with MYSB Direct. Of the banks on our list, MYSB offered the highest 5-year CD APY at 4.90%. However, MYSB also has one of the heftiest early withdrawal penalties, so be prepared to keep your hands off your money or pay up. MYSB Direct has one physical location in New York City, but you can reach customer service via email or phone. Other CD rates Term lengthAPY3-month CD3.25%6-month CD5.36%7-month CD1.00%18-month CD5.20%24-month CD4.82%48-month CD4.36% 2. First Internet Bank: For savers with at least $1,000 to invest About: First Internet Bank was established in 1999, operating online with headquarters in Indiana. The bank provides savings accounts, money market accounts, and CDs, among other consumer banking services. Key numbers Term LengthAPY1-year CD5.35%3-year CD4.75%5-year CD4.59% Minimum opening deposit: $1,000 Why we picked it First Internet has APYs that top 4.50% on all of the CDs we evaluated. While youll need at least $1,000 to take advantage of these high APYs, the minimum opening deposit is reasonable compared to other banks requirements Plus, if you ever need to contact customer service, First Internet Bank has stellar customer service even though its a digital bank with no physical locations: You can access customer service via email, chat, or phone. Other CD rates* *While our methodology only considered 1-, 3-, and 5-year CDs, here are the other CD terms available if youre looking for more options: Term lengthAPY3-month CD4.18%6-month CD5.22%18-month CD5.07%24-month CD4.85%48-month CD4.54% 3. Bread Savings: For savers who prefer a digital bank About: Bread Savings, formerly Comenity Direct Bank, is an online bankpart of Bread Financialthat offers CDs ranging from one to five years and a high-yield savings account. Key numbers Term lengthAPY1-year CD5.60%3-year CD4.95%5-year CD4.75% Minimum opening deposit: $1,500 Why we picked it Bread Savings had the highest minimum deposit requirement on our list, but it offers one of the most competitive APYs on its 1-year CD, clocking in at 5.60%. However, there may be costs associated with your CD. Accountholders should be aware of fees charged for outgoing wire transfers, official check requests, and paper statement fees. Bread Savings is a digital bank. If customers need help, they can call or send a secure message through its banking portal. Other CD rates Term lengthAPY2-year CD5.25%4-year CD4.75% 4. Prime Alliance: For savers who want the highest APYs on 1- and 3-year CDs About: Founded in 2004, Prime Alliance is a

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okay and give me the 5 banks that have the highest rate for saving account must be under fdic

Here are five banks offering high interest rates for saving accounts that are also FDIC-insured:

  1. Popular Direct - 5.40% APY
  2. BrioDirect - 5.35% APY
  3. My Banking Direct - 5.35% APY
  4. BluPeak Credit Union - 5.33% APY
  5. Customers Bank (powered by Raisin) - 5.30% APY

Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page. The average savings account interest rate is 0.46% APY (Annual Percentage Yield) in the United States. If you'd like to earn a higher APY, there are high-interest savings accounts that offer more than the national average. Several high-yield savings accounts pay well above 5% APY. One even pays as high as 6.17% APY on balances up to $1,000 if you meet certain membership eligibility requirements.Featured Nationally Available Savings RatesBest Savings Account Interest RatesTop High-Yield Savings Rates OverallPopular Direct: 5.40% APYBrioDirect: 5.35% APYMy Banking Direct: 5.35% APYTop High-interest Savings Accounts With Minimal EffortBluPeak Credit Union: 5.33% APYCustomers Bank, powered by Raisin: 5.30% APYTAB Bank: 5.27% APYTop High-interest Savings Account Rates on Popular HYSAsBMO Alto: 5.10% APYBetterment: 4.75% APY (new users will earn 5.50% APY through 12/31/2023)SoFi: Up to 4.60% APYCitizens: 4.50% APYMarket LeaderDigital Federal Credit Union: 6.17% APY on $1,000 and 0.15% APY on the remaining balanceYou must become a member of the credit union to open this savings account. Membership is open to anyone who lives in select areas of Massachusetts, lives in a New Hampshire participating condominium community, works for a Select Employer Group, or belongs to a local participating organization.Compare the Best High-Interest Savings AccountsBelow are our top options for savings accounts. We monitor rates daily to find the best high-interest savings accounts in three categories the best rates overall, accounts that let you earn a high rate with minimal effort (like low minimum deposits and balance requirements), and high rates with popular brands. We have also included a market leader so you know the highest savings rate available throughout local financial institutions.Best High-Yield Savings Account Rates Overall Popular Direct Savings Fees no monthly service fee Annual Percentage Yield (APY) 5.40% Minimum Deposit Amount $100 Pros High APY No monthly service fee Compounds interest daily Cons $5 excess withdrawal fee For the first 70 days, the only account you can transfer money to is your linked funding account Insiders Take Popular Direct's high-yield savings account is featured in our best high-yield savings account guide because it has one of the highest rates available. The bank's CDs also offer high rates, but these accounts may not be as appealing due to the high minimum opening deposits and early withdrawal penalties. Popular Direct Savings review Product Details Must link to external bank account and transfer funds to access your savings Interest compounded daily, paid monthly FDIC insured BrioDirect High-Yield Savings Account Fees no monthly service fee Annual Percentage Yield (APY) 5.35% Minimum Deposit Amount $5,000 Pros High interest rate No monthly service fees Cons High minimum opening deposit Insiders Take BrioDirect currently only offers CDs. Its 1-year CD term is competitive, but you'll likely find higher rates for other CD terms at other banks. Ourbest CD rates guide highlights financial institutions with the highest CD rates for each term. BrioDirect High-Yield Savings Account review Product Details Must maintain at least $1 in account to earn interest Interest compounded daily and deposited monthly FDIC insured My Banking Direct High Yield Savings Account Fees no monthly service fee Annual Percentage Yield (APY) 5.35% Minimum Deposit Amount $500 Pros High interest rate No monthly service fees Cons High minimum opening deposit Product Details My Banking Direct is an online division of Flagstar Bank No interest earned on balances below $1 Interest is calculated on a simple interest basis and deposited monthly FDIC-insured High-Interest Savings Accounts

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Best High-Yield Savings Accounts November 2023 We compared 73 online savings accounts at 53 nationally available banks and credit unions to find some of the best high-yield savings accounts available. Best Online High-Interest Savings Rates Annual percentage yield (APY) was a main factor, but not the only factor considered when building our list of the best accounts. Heres a summary of our top accounts organized by the highest APY that one could get. Milli Savings Account: 5.25% APY UFB Secure Savings: up to 5.25% APY on all balance tiers APY Bread Savings High-Yield Savings Account: 5.15% APY Bask Interest Savings Account: 5.10% APY M1 High-Yield Savings Account: 5.00% APY with M1 Plus membership, non-members earn 1.50% APY See below to learn more about why we picked each account, the pros and cons and to access individual bank reviews. Annual percentage yields (APYs) and account details are accurate as of November 20, 2023. Milli Savings Account Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee Why We Picked It The Milli Savings Account is a tough one to beatat least for the mobile-minded. This app-based account offers the highest rate currently available at 5.25% APY without fees, minimum balance requirements or withdrawal limits. It lets you organize your savings into Jars to designate funds for different goals, and all Jars earn the same rate regardless of balance. Milli Bank is a mobile-only banking division of the First National Bank of Omaha (FNBO). Right now, Milli offers just a savings account and a checking account. It does not operate branches or have an online banking platform, so this account is best for those who like smartphone banking. Pros & Cons No monthly fees or minimum deposit and balance requirements Ability to separate savings into Jars Interest compounds daily Milli Bank only offers checking and savings No online banking No in-person branches Details Interest compounds daily and is credited monthly at the end of each statement cycle. All customers earn 5.25% APY, with no minimums, activity requirements or balance tiers. Bask Interest Savings Account Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee Why We Picked It Bask Banks Bask Interest Savings Account account offers a highly competitive 5.10% APY. There are no monthly fees or minimum deposit requirements for this account, and you dont need to maintain a certain balance to earn interest. Its a stand-out option all around, especially for those who prefer simple and fee-free banking. This is a basic savings account with hardly any fees to speak of, except for fees for outgoing wire transfers. Though you cant walk into a branch as this is an online-only bank, Bask Bank customers have access to both email and phone support. Read our full Bask Bank Review. Pros & Cons No monthly fees No minimum deposit or balance requirements Interest compounds daily No live chat support No in-person branches Details Interest compounds daily and is credited monthly on the last day of each statement cycle. Customers earn 5.10% APY, with no minimums or activity requirements. Customers need to make a deposit within 15 days of account opening to avoid closure. M1 High-Yield Savings Account Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee $10 per month for Active Plus membership Annual Percentage Yield Minimum Deposit Requirement Monthly Maintenance Fee $10 per month for Active Plus membership Why We Picked It The M1 High-Yield Savings Account allows customers to earn 5.00% APY with M1 Plus membership, non-members earn 1.50% APY with no minimum deposit requirement, but theres a catch. You have to pay for an M1 Plus membership to qualify for the best rate. This account is best for those already banking or investing with M1 and those interested in ot

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Since March 2020, the Federal Reserve has increased its target rate 11 timesand banks have followed suit. Thats great news for savers, as savings account interest rates are reaching new heights every day. That said, not all savings accounts are created equal, and interest rates are just one piece of the puzzle. You also want to put your money where you wont incur any unnecessary fees or have to maintain a huge balance to earn the advertised rate. So if youre looking for the right place to keep your savings but arent sure where to start, dont worry: weve got your back. The Fortune Recommends team regularly reviews more than 60 high-yield savings accounts to bring you our top picks based on annual percentage yield (APY), deposit requirements, fees, and more. You can read our full methodology here. Best savings account rates *Last updated November 20, 2023 10 savings accounts with the highest yields today We rounded up accounts currently offering APYs of more than 5% to help you choose the best account for your savings. Heres a quick look at 10 high-yield savings accounts available today with rates of 5.25% APY and up. 1. Popular Direct Key numbersAPY5.40%Minimum opening deposit$100Monthly fee$0 Popular Direct is an online banking platform offered by Popular Bank, a subsidiary of Popular, Inc., a national full-service bank that has been serving customers for over 120 years.Popular Direct offers a variety of deposit products, including high-yield savings accounts and CDs to customers across the U.S., Puerto Rico, and the Caribbean. The high-yield savings account from Popular Direct has the highest rate among the banks on our list with 5.40% APY. Youll need at least $100 to open an account. 2. My Banking Direct Key numbersAPY5.35%Minimum opening deposit$500Monthly fee$0 My Banking Direct is an online-only bank and division of Flagstar, N.A., a regional bank with a significant retail presence in the Midwest and California. Its high-yield savings account offers a highly competitive 5.35% APY. Savers will need at least $500 to open an account and maintain a minimum balance of $500 to earn this great rate. The good news is there are no monthly fees associated with the account. 3. Brio Direct Key numbersAPY5.35%Minimum opening deposit$5,000Monthly fee$0 An online-only division of Webster Bank, Brio Direct specializes in providing market-leading savings and CD rates. Accounts can be opened online within minutes. The high-yield savings account from Brio Direct comes with an impressive 5.35% APY. The catch: savers need at least $5,000 to open an account and must maintain a balance of $25 to earn the disclosed APY. But like the other accounts on this list, there is no monthly maintenance fee. 4. Ivy Bank Key numbersAPY5.30%Minimum opening deposit$2,500Monthly fee$0 Ivy Bank is a digital financial institution backed by Cambridge Savings Bank, a well-established community bank that has been serving customers since 1834 throughout the greater Boston area. Ivy Bank was established to provide high-yield savings products to customers nationwide. The high-yield savings account offered by Ivy Bank comes with an impressive 5.30% APY. The catch? You will need a fairly large opening deposit of $2,500 to qualify for this rate. The good news? This accounts APY is guaranteed through June 30, 2024. Plus, there are no minimum balance requirements or monthly fees. 5. TAB Bank Key numbersAPY5.27%Minimum opening deposit$0.01Monthly fee$0 Founded in 1998, TAB Bank is an online-only bank with the mission of providing banking services to underserved individuals and businesses. TAB Bank offers a high-yield savings account with 5.27% APY11 times the national average. You only need $0.01 on deposit to earn this rate and there is no ongoing minimum balance requirement (or balance cap, for that matter). There are also no monthly fees. 6. Cloudbank 24/7 Key numbersAPY5.26%Minimum opening deposit$1Monthly fee$0 You may have never heard of Cloudbank 24/7 before, but res

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