Best CD Rates in 2023: 5.65% for 12 Months

The best CD rates of 2023.
Compare the best CD rates at Bankrate: bit.ly/cd_bankrate
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CD rates are extremally high right now and 12 month CD's happen to have the best rates. I'll go over BMO Alto Bank, Capital One and Lending Club. These banks all have extremally high CD rates, so I'll compare some basic pros and cons of each.
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Chapters:
0:00 Intro
1:16 BMO Alto
2:30 Capital One
5:02 Lending Club
#honestfinance #bestcdrates

[@HonestFinance]

Do you know of any better CD rates right now?

[@TheLettich17]

Yes, Members 1st fcu

[@sittinheretoo]

You done a great job on this video. Bank rate does do a great job with keeping up with the highest current CD rates. Raisin is a good source as well for those who are looking for high yield savings accounts.

[@redscorpion9325]

Im actually surprised that Santander is also up to between 5.00% 5.50%

[@Bj45380]

My current CD is about to mature Any suggestion for the next CD for Jan in the amount of 40k?

[@titoclutch2960]

I just recentley learned about CD rates. I was considering investing $2-4000. Just for clarity the interest rate is applied yearly or monthly. I saw you mentioned lending club is a minimum of $2500 which would gain you only $141 per year. That doesnt sound like the best deal for me because the amount of gain to time ratio is not enough. To be clear they payout per year? or is $141 a month?

[@Thomas-se3tb]

When do you think CD rates will peak? I’m waiting to see if there is a hike on November 1

[@HonestFinance]

This is the highest I’ve ever seen

[@HaroldSmith123]

Hello. I just put $100k in a 2 month CD through Chase. 5% APY. Thought it was great. Only 2 months. After it matures I could just do it again right? . This is my first time investing.

[@Lotuslaful]

Did you notice if some had fees or are cds straightforward rate

[@jack8356]

I dont think they would have fees since your putting your money in their system to get small interest gain. Only other things similar would be the deposit requirement for some. Just my guess i could be wrong

[@HonestFinance]

No fees. Just an early withdraw penalty if you take out money early (but that’s not a fee. Just a consequence of breaking the contract)

[@HonestFinance]

@jack8356 You’re right. No fees

[@Tattooclownfish71]

Not sure how this works you said 2500 cd you only make 141 for 12 months? Confused so you would need 10 grand or 50 grand to make money anyone please help I like this guy great videos 👍👍👍

[@musashi-san____1409]

cool

[@jack8356]

Dont you still have to pay taxes on that?

[@alonzobanuelos160]

Yes

[@HonestFinance]

Yes on the interest

[@redscorpion9325]

Of course 😂IRS always around the corner to Collect