Whether you’re shopping for a new CD (Certificate of Deposit) account or deciding whether to renew an existing one, there are more things to consider than the APY (annual percentage yield.) Use the tips below to choose the provider and terms that work best for you. CD Shopping Tips The easiest option is to renew a current CD if the new APY is competitive. But be sure to reread the terms. Details may have changed. Start shopping at least ten days before an existing CD matures, especially if you’re moving funds to another financial institution. You need to allow time for transfers on both ends of the transaction, which can take 3-5 days each. Search online for “best CD rates today.” Your results will likely include sites like Bankrate and NerdWallet, but don’t stop there. They tend to put sponsors at the top of their lists and there may be better options. Compare APYs (annual percentage yields). As of July 31, 2025, rates range from about 3.50% to 4.25% APY. I just opened a 6 month CD account at Discover.com with 4.20% APY. Check terms. Common terms are 3 months, 6 months and 1, 2, 3 or 5 years. […]
Read More +CD Account Shopping: Words to the Wise
