The one-year Treasury bill is yielding 5.47% Wednesday, and one-year CDs at some institutions offer annual percentage yields exceeding 5%.
"It always makes sense to look at the landscape," said Danika Waddell, a certified financial planner and founder of Xena Financial Planning.
Ally Financial and Bread Financial are among the institutions offering a higher renewal rate for customers who stick around.
Consider that about a year ago, the average one-year CD had an APY of less than 1%, according to Bankrate.com .
Consider that Synchrony Financial has an 11-month no-penalty CD that offers a 4.5% APY, while its 12-month standard CD yields 5.1%.
Persons:
Danika Waddell, Morgan Stanley, Banks, Betsy Graseck, Mark Hamrick, It's, Waddell, Michael Bloom
Organizations:
Federal Reserve, Treasury, Investors, Xena, PNC, WFC, Bankrate.com, Ally, Federal Deposit Insurance Corp
Locations:
JPM