What is the average interest rate on a CD?

What are today’s CD rates? According to Bankrate’s most recent national survey of banks and thrifts, the average rate is 0.23 percent for a one-year CD, 0.24 percent for a one-year jumbo CD, 0.39 percent for a five-year CD and 0.40 percent for a five-year jumbo CD. The Federal Reserve’s decisions on interest rates can affect CD rates.

Are CD worth investing in?

The other thing that makes CDs worth it from a risk standpoint is that they are insured by the Federal Deposit Insurance Corp. So, even if the bank fails, you won’t lose what you invested. No matter what kind of CD climate you’re in, CDs are still worth it as a savings product.

Are old CDs worth anything?

While some may consider resale, it’s a good idea to hold on to your older CDs, especially if you’re a fan of audio quality. CDs also have numerous other benefits for those looking for a strong audio format, so here are a few of those to consider: You Can Listen to Them Anywhere