Where to get the best returns on your savings when rates are high | CNN Business

The average bank savings rate as of April 26 was a paltry 0.24%, according to Bankrate. At some of the biggest banks, savings rates are as low as 0.01%. But thanks to the Federal Reserve’s rate-hiking campaign since mid-March of last year and competition for your money, you have many more lucrative options. Here are a few low-risk ways to make between 4% and 5% on your savings now.

They offer one-stop shopping to compare and contrast a broad universe of bank CDs at all maturity ranges. Buying brokered CDs also means you don’t have to set up new, individual accounts at different banks, but the CDs will still be FDIC-insured, assuming the banks sponsoring them are. And if you need access to your money early, you can sell it on the secondary market through the brokerage, although as with selling any investment there is no guarantee you will get back what you paid for it.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tuesday Morning is going out of business and closing all of its stores | CNN BusinessTuesday Morning is going out of business and closing all of its stores. It is the second major US home goods retailer to go bust in recent days.
Source: CNN - 🏆 4. / 95 Read more »

Why the Fed will likely raise rates two days after First Republic failed | CNN BusinessFor the second time this year, the Federal Reserve is gearing up to raise interest rates right after a bank failure.
Source: CNN - 🏆 4. / 95 Read more »

The Fed lifts rates by a quarter point | CNN BusinessThe Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March.
Source: CNN - 🏆 4. / 95 Read more »

Hollywood braces for writers' strike that could shut down production on most TV shows | CNN BusinessThe clock is ticking towards a costly strike that could shut down production on most television shows, pushing back the return of many programs now scheduled for the fall.
Source: ALNewsNetwork - 🏆 583. / 51 Read more »