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SeaDreamer
Updated:10/04/2024
As investors seek better returns on their savings, high-yield CD accounts for 2024 offer attractive options.
Top High-Yield CD Accounts for 2024
1. Marcus by Goldman Sachs
- Interest Rate: 4.50%
- Term Length: 12 months
- Minimum Deposit: $500
2. Ally Bank
- Interest Rate: 4.35%
- Term Length: 18 months
- Minimum Deposit: $1,000
3. Capital One
- Interest Rate: 4.30%
- Term Length: 14 months
- Minimum Deposit: $250
4. Discover Bank
- Interest Rate: 4.25%
- Term Length: 12 months
- Minimum Deposit: $2,500
Comparison Chart
| Bank | Interest Rate | Term Length | Minimum Deposit |
|---|---|---|---|
| Marcus by Goldman Sachs | 4.50% | 12 months | $500 |
| Ally Bank | 4.35% | 18 months | $1,000 |
| Capital One | 4.30% | 14 months | $250 |
| Discover Bank | 4.25% | 12 months | $2,500 |
Features to Consider
- APY (Annual Percentage Yield): The effective annual rate of return, taking into account the effect of compounding.
- Term Length: The duration for which your money is locked away.
- Minimum Deposit: The least amount needed to open a CD account.
- Early Withdrawal Penalty: Fees incurred if funds are withdrawn before maturity.
- FDIC Insurance: Ensures your deposits are protected up to $250,000.
Mind Map of High-Yield CD Accounts
- High-Yield CD Accounts
- Interest Rates
- 4.50% – Marcus
- 4.35% – Ally Bank
- 4.30% – Capital One
- 4.25% – Discover Bank
- Term Lengths
- 12 to 18 months
- Minimum Deposits
- $250 to $2,500
- Interest Rates
Statistical Overview
| Bank | Average Customer Rating | Customer Service Hours |
|---|---|---|
| Marcus by Goldman Sachs | 4.7/5 | 24/7 |
| Ally Bank | 4.6/5 | 24/7 |
| Capital One | 4.5/5 | 8 AM – 8 PM EST |
| Discover Bank | 4.4/5 | 7 AM – 10 PM EST |
Conclusion
When selecting a high-yield CD account for 2024, consider interest rates, term lengths, and other features to maximize your returns.
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