CDs and savings accounts that pay over 12 times the national average

The bad news for many consumers is that persistent inflation and the high interest rates intended to offset it. At the same time that consumers are paying more interest on credit cards, loans, and mortgages, prices for everything from groceries to gas have increased. The good news is that savers are one group who will profit from rising rates.

CDs and savings accounts that pay over 12 times the national average

Currently, it is highly profitable to open certificates of deposit (CDs) and high-yield savings accounts. When compared to traditional savings accounts, they provide rates that are much higher, allowing your money to grow faster. This is beneficial when your money doesn’t go as far.

Now is the moment to switch to one of these high-paying accounts if your funds are yielding a pitiful rate of return. Top CDs and high-yield savings accounts provide rates that are 12 times that of the average national savings rate, which is a pitiful 0.43%. You may start making extra money right now by creating one of these accounts.

Also Read: Online Loans FintechZoom Best Online Loan Guide 2023

Savings and CDs that pay more than 12 times the average nationally

The interest rates on the following deposit accounts are more than 12 times higher than the national average.


These accounts offer the best rates if you wish to open a CD:

  • Bank5 Connect offers 5.50% APY for six months with a $500 minimum deposit and a 90-day early withdrawal penalty.
  • Santander Bank: 5.50% APY (1 year) with a $500 minimum deposit and a three-month interest penalty for early withdrawal.
  • Limelight Bank: 5.50% APY (1 year) with a $1,000 minimum deposit and a 90-day interest penalty for early withdrawal.
  • Finance Club — 5.50% APY (1 year): $2,500 minimum deposit; early withdrawal fee of 90 days’ interest
  • CIBC Bank USA: 1 year, 5.36% annual percentage yield; $1,000 minimum deposit; 30 days’ interest penalty for early withdrawal.
  • Popular Direct: 5.35% APY (6 months) with a minimum deposit requirement of $10,000 and an early withdrawal penalty of 120 days’ interest
  • America First Credit Union: 5.30% APY (6 months): Early withdrawal fee of 60 days’ interest

Savings accounts

Check out these high-yield savings accounts if you choose to do so for the best returns:

  • $25 is the minimum deposit amount and a $200 minimum balance is needed each month at BluPeak Credit Union (5.33% APY).
  • Minimum deposit of $25,000 and monthly balance requirement of $2,500 for TotalDirectBank (5.26% APY).
  • There is no minimum deposit or required monthly balance for milli (5.25% APY).
  • There is no minimum deposit or required monthly balance for UFB Direct (5.25% APY).
  • Evergreen Bank Group (5.25 percent annual percentage yield) does not require a minimum monthly balance of $100.
  • There is no minimum deposit or required monthly amount at Newtek Bank (5.25% APY).
  • Popular Direct (5.20% APY) has no minimum monthly balance requirement and a $100 minimum deposit requirement.

Also Read: What Happens to Student Loans When You Die?

The takeaway

You can begin your search for an account that pays greater interest by looking at the certificates of deposit and high-yield savings accounts mentioned above. However, they are by no means the only choices available.

Spend some time researching, comparing various accounts, and balancing interest rates with other crucial elements like costs, restrictions, and accessibility. You may choose the finest account for your needs and accelerate your savings objectives by conducting a little research.

Share Friends and Family

15 thoughts on “CDs and savings accounts that pay over 12 times the national average”

  1. Hey there! I know this is kind of off topic but I was wondering
    which blog platform are you using for this site? I’m getting
    fed up of WordPress because I’ve had issues with hackers and I’m looking at options for another platform.
    I would be great if you could point me in the direction of a good platform.

  2. Heya i’m for the first time here. I found this board and I find It truly useful
    & it helped me out a lot. I hope to give something back
    and aid others like you aided me.

  3. I know this web page gives quality depending articles
    or reviews and additional information, is there any other web site which provides such data
    in quality?

  4. Magnificent goods from you, man. I’ve understand your stuff
    previous to and you are just extremely great. I really like what you have acquired here, certainly like what you’re saying and the
    way in which you say it. You make it enjoyable and you still take care of to keep it smart.
    I can’t wait to read far more from you. This is really a wonderful web site.

  5. What’s Hppening i’m new to this, I stumbled upon thi I’ve discovered It asolutely useful and itt has
    aiddd me outt loads. I aam hoping to give a contribution & assist diffewrent customers like
    iits helped me. Grerat job.

  6. Incredible! This blog looks exactly like my old one! It’s on a entirely different subject but it has
    pretty much the same layout and design. Outstanding choice of

  7. When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get several emails with the same comment.
    Is there any way you can remove me from that service?
    Bless you!

  8. whoah this blog is excellent i love studying your articles.
    Stay up the great work! You know, lots of persons are searching round for this information,
    you can aid them greatly.

  9. Please let me know if you’re looking for a author for your blog.
    You have some really great articles and I think I would be a good asset.
    If you ever want to take some of the load off, I’d
    love to write some content for your blog in exchange for a link back to mine.
    Please shoot me an email if interested. Regards!

  10. Good day! I could have sworn I’ve been to this blog before but after reading through some of
    the post I realized it’s new to me. Anyways, I’m definitely glad I found it and I’ll be bookmarking and checking back frequently!

  11. This is a topic that’s close to my heart… Thank you! Exactly where are your contact details though?


Leave a Comment