Certificates of Deposit (CDs) can be a reliable and safe way to grow your savings. They generally pay a lower interest rate -- stated as an annual percentage yield (APY) -- than non-insured investments such as stocks and bonds.
Use this CD calculator to calculate the value of your CD at maturity, and see how factors such as the term and interest rate can affect the value when you cash it in.
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The Federal Reserve (Fed) increased the Fed Funds by 0.25%, to a range of 0.75% to 1.00%. We continue to expect one to two more gradual (0.25%) hikes this year, with the pace wholly dependent on economic data. We also anticipate a modest flattening of the yield curve by year end.