For the past year, comparing short-term CD rates vs. long-term CD rates showed that short-term CDs had better rates overall.
Even the best long-term CD rates were starting to dip under the 4% mark, going into the 3.90% APY range.
For example, Synchrony Bank's best CD rate is the Synchrony 9 Month CD, which offers 4.05% APY.
Long-term CD rates are still lower than short-term CD rates overall.
If the risk of incurring early withdrawal penalties in a long-term CD is too much, you can open a CD ladder with a long-term CD in it to mitigate that risk.
Persons:
Synchrony, we're, Jerome Powell, Donald Trump, Kit Pulliam, They’ve, Kit
Organizations:
Federal Reserve, America First Credit, Credit Union, Dow Credit Union, Federal, Pulliam, Business, Tax, MSN, Vanderbilt University
Locations:
America