Aside from a federal limit of only six withdrawals from a savings account in a month, the amount you withdraw (as well as how often you withdraw) is up to you. Savings accounts and money markets are more similar, while certificates of deposit are somewhat different.Ī savings account allows you to deposit and withdraw funds at your convenience. All are intended as vehicles for holding cash savings at a bank or credit union. Savings accounts, money market accounts, and CDs are collectively called deposit accounts. For credit union CDs, information on how to easily join each credit union is also provided. Farmers Insurance Federal Credit Union – 4.00% APYĭetails on these top-paying nationally available three-month CDs are provided below, including their minimum required deposits and early withdrawal penalties.Teachers Federal Credit Union – 4.50% APY.Pen Air Federal Credit Union – 5.00% APY.Santa Clara County Federal Credit Union – 5.09% APY.Then, if there is still a tie, we will rank alphabetically by institution name. If more than one institution pays the same top rate, we rank the CDs by the shortest term, then the smallest minimum deposit. To be included, the institution must be federally insured (by the Federal Deposit Insurance Corporation for banks and the National Credit Union Administration for credit unions), and the minimum required deposit cannot exceed $25,000. By monitoring the rate data of roughly 200 banks and credit unions that offer certificate products nationwide, we're able to rank the highest-paying CDs in the country that have an approximately three-month term (including maturities of two to four months).
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