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15 CD accounts that outpace inflation right now

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Today’s leading CDs can give you a positive inflation-adjusted return. 

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Are you saving money for a car, a down payment on a house, the vacation of a lifetime or any other large expense? If so, there’s a high probability that you’re facing a challenge. In today’s inflationary environment, the money you save has to earn a meaningful return. After all, if your return rate is any lower than the current inflation rate, your money is losing buying power. Fortunately, there are some alternatives that can outpace inflation right now.

“A CD is a good option if you’re saving for a specific goal, like a car or vacation,” explains Stacey Black, lead financial educator at BECU. That’s because many of today’s certificates of deposit (CDs) are offering returns that are well above the current rate of inflation. Moreover, you’ll agree to keep your money in the account for its entire term, likely making it easier to achieve your savings goals

However, it’s important to note that not all CDs are equal. In fact, some offer returns that outpace inflation while others don’t. So, where can you open a CD that offers a higher return than the current 3.1% inflation rate? That’s what we’ll explore below.

Open a CD now to lock in today’s high returns

15 CDs that outpace inflation right now

The good news is that the inflationary environment has ushered in higher interest rates on deposit accounts. So, you won’t have to look very far to find a CD that offers a return that’s higher than 3.1%. Here are 15 options with APYs over 5%:

  • Space Coast Credit Union – 5.61% APY: The minimum deposit to open this account is $500 and it has a one-year term.  
  • CIBC Bank – 5.51% APY: The minimum opening deposit requirement on this account is $1,000 and the term is one year.
  • BMO Alto – 5.50% APY: This account comes with a six-month term and has no minimum opening deposit requirement.
  • America First FCU – 5.50% APY: This account has a minimum opening deposit requirement of $500 and the term is three months. 
  • Popular Direct – 5.37% APY: The minimum opening deposit requirement on this account is $10,000 and the term is one year.
  • Brio Direct – 5.35% APY: This account requires a minimum opening deposit of $500 and comes with a one-year term. 
  • CFG Community Bank – 5.35% APY: The minimum opening deposit requirement for this account is $500 and the term is one year.
  • First Internet Bank of Indiana – 5.35% APY: This account comes with a one-year term and a $1,000 minimum opening deposit requirement.
  • America First FCU – 5.30% APY: The minimum opening deposit requirement on this account is $500 and the term is six months.
  • Quontic Bank – 5.30% APY: The minimum deposit required to open this account is $500 and the term is one year.
  • Tab Bank – 5.27% APY: The minimum opening deposit requirement on this account is $1,000 and it comes with a one-year term. 
  • USAA Federal Savings Bank – 5.25% APY: The minimum deposit required to open this account is $1,000 and the term is six months.
  • Marcus by Goldman Sachs – 5.25% APY: The minimum opening deposit requirement on this account is $500 and it comes with a 14-month term. 
  • BMO Alto – 5.15% APY: There’s no minimum deposit requirement on this account and it has a one-year term.
  • Synchrony Bank – 5.15%: This account has no minimum opening deposit requirement and comes with a nine-month term.

Lock in returns that outpace inflation with a CD now

The bottom line

It’s generally a wise idea to save money over time in order to accomplish your financial goals. However, it’s also important that your savings vehicle generates enough of a return to outpace inflation. If that’s not the case in your current savings set up, consider opening a CD to generate a positive inflation-adjusted return on your idle cash



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Flooding in Central Europe blamed for 24 deaths as EU promises $11 billion in emergency repair funding

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Parts of Europe experiencing heavy rainfall, flooding


Parts of Europe experiencing heavy rainfall, flooding

00:45

Warsaw, Poland — European Union chief Ursula von der Leyen on Thursday pledged billions of euros in aid for Central European countries that suffered enormous damage to infrastructure and housing during the massive flooding that has so far claimed 24 lives in the region. Von der Leyen paid a quick visit to a flood-damaged area in southeast Poland and met with heads of the governments of the affected countries — Poland, Austria, the Czech Republic and Slovakia.

She said funds will be made available quickly for infrastructure repair from the EU’s solidarity fund, as well as 10 billion euros ($11 billion) from what is called the cohesion fund — for the most urgent repairs. In a special approach, no co-financing will be required from these countries for the money to be released.

“Here we say it’s 100% European money, no co-financing,” von der Leyen told a news briefing. “These are extraordinary times, and extraordinary times need extraordinary measures.”

Flooding Danube in Hungary
A man stands next to sandbags placed along the Danube River in Budapest, Hungary, Sept. 20, 2024.

Marton Monus/REUTERS


Meanwhile, a massive flood wave threatened new areas and heavy rains also caused flooding and forced the evacuation of some 1,000 people in the northern Italian region of Emilia-Romagna. In Central Europe, the receding waters revealed the scale of the destruction caused by exceptionally heavy rains that began a week ago.

Czech Interior Minister Vit Rakušan said one more person was reported killed on Thursday in the country’s hard-hit northeast, bringing the death toll there to five. There were also seven deaths each in Poland and Romania, and five in Austria — with the overall death toll now at 24.

Authorities deployed troops to help. In the northeast Czech Republic, soldiers joined firefighters and other emergency crews to help with the recovery efforts. Army helicopters distributed humanitarian aid while soldiers were building temporary bridges in place of those that were swept away.

Some 400 people remained evacuated from the homes in the regional capital of Ostrava. In the southwest, the level of the Luznice River reached an extreme high but the evacuation of 1,000 people in the town of Veseli nad Luznici was not necessary for the moment, officials said.

Heavy Rain Sweeps Central Europe
Firefighters walk across a flooded street, Sept. 15, 2024, in Jesenik, Czech Republic.

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Cleanup efforts were underway in Austria, where flooding washed away roads and led to landslides and bridge damage. Firefighters and soldiers pumped water and mud out of houses and disposed of damaged furniture, broadcaster ORF quoted fire department spokesperson Klaus Stebal as saying.

The governor of Lower Austria province, Johanna Mikl-Leitner, said reconstruction was expected to take years, according to the Austria Press Agency.

The Vienna public transport company has had to pump almost 1 million liters (260,000 gallons) of water since last weekend. Ten towns and areas were still inaccessible on Thursday, APA reported.

In Hungary, flood waters continued to rise as authorities closed roads and rail stations. Ferries along the Danube River halted. 

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The parliament building is pictured in the background as the Danube River floods its banks in Budapest, Hungary, Sept. 18, 2024.

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In the capital, Budapest, water spilled over the city’s lower quays and threatened to reach tram and metro lines. Some transport services were suspended. Remarkable images showed the water of the Danube creeping up perilously close to the ground floor of Hungary’s Parliament building, which sits directly on its bank.

Further upriver, in a region known as the Danube Bend, homes and restaurants near the riverbanks were inundated.

Nearly 6,000 professionals, including members of Hungary’s water authority and military, were mobilized, and prison inmates were involved in filling sandbags, Prime Minister Viktor Orbán said at a news conference Thursday.

The Danube stood at over 25 feet, approaching the 29.2-foot record set during major flooding in 2013.

In southwestern Poland, the high waters reached the city of Wroclaw and an extended wave was expected to take many hours, even days to pass, exerting pressure on the embankments.

The water level on the Oder River just before Wroclaw was 21 feet, some 6.5 feet above alarm levels but still lower compared to the disastrous flooding in 1997.

Aftermath of flooding by Biała Ladecka river in Ladek Zdroj
A car damaged by the flooding of the Biała Ladecka river is seen in Ladek Zdroj, Poland, Sept. 19, 2024.

Kacper Pempel/REUTERS


In the two most-affected towns, Stronie Slaskie and Ladek-Zdroj, tap water and power were restored, said Gen. Michal Kamieniecki, who was put in charge of the recovery operations there after an emotional appeal to Prime Minister Donald Tusk for help the day before by a young woman identified only as Katarzyna.

As concerns mounted, Tusk invited von der Leyen to Wroclaw to see the situation first hand. Government leaders from the Czech Republic, Slovakia and Austria were also there.

In Italy, rivers flooded in the provinces of Ravenna, Bologna and Forlì-Cesena, as local mayors asked people to stay on the upper floors or leave their houses. Those areas were hit by devastating floods in 2023, when more than 20 rivers overflowed, killing 17 people.

Italy’s vice minister for transport and infrastructure, Galeazzo Bignami, said Thursday that two people were reported missing in Bagnocavallo, in Ravenna province.

At least 800 residents in Ravenna and almost 200 in Bologna province spent the night in shelters, schools and sports centers. Trains were suspended and schools closed while residents were advised to avoid travel.



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8 firefighters injured in fire truck rollover on Southern California freeway

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12 injured after fire department vehicle rolls over on Orange County freeway


12 injured after fire department vehicle rolls over on Orange County freeway

00:44

At least eight firefighters were hurt when a fire truck crashed on a freeway near Irvine, California, Thursday night, authorities said. 

The Orange County Fire Authority truck overturned on State Route 241 at about 6:50 p.m. local time in the Portola Springs area near State Route 133, according to California Highway Patrol. 

A ladder in the roadway caused the fire truck and another vehicle in front of it to swerve, highway patrol said, and the truck collided with a nearby guard rail and overturned. It did not appear that any other vehicles were involved. 

Initially, highway patrol reported that 12 firefighters were injured, but late downgraded that to eight. Six suffered serious injuries and two minor injuries, highway patrol said. 

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A fire truck which an Orange County Fire Authority decal on it. 

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Helicopters landed on the highway, which is a toll road, and airlifted the victims to area hospitals.

CHP officers issued a five-hour closure of the freeway’s northbound lanes shortly after the crash. 

Video from the collision site showed the crashed vehicle with an “Orange County Fire Authority Santiago Hand Crew” decal. Highway patrol said the firefighters had been battling the massive Airport Fire prior to the crash. 

This is a developing story. Check back for more details. 



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Trump rails against Jewish Americans who don’t vote for him in speech focused on antisemitism

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Washington, D.C. — Former President Donald Trump criticized Jewish Americans who don’t vote for him in speeches aimed at addressing antisemitism Thursday night in Washington D.C., while claiming that if he is not elected in November, Israel would be “eradicated.”

“If I don’t win this election, and the Jewish people would really have a lot to do with that if that happens, because at 40%, that means 60% of the people are voting for the enemy,” Trump said.

Trump made the comments during a small event focused on addressing antisemitism with Dr. Miriam Adelson, a prominent Republican Party donor and the widow of late casino magnate Sheldon Adelson.

“With all I’ve done for Israel, I received only 24% of the Jewish vote,” Trump said. 

Trump later repeated the comment regarding the polls during remarks at the Israeli-American Council National Summit, which was gathering to commemorate the nearing one-year mark of the October 7 attack. 

“You should have your head examined, because it will face an unceasing, bloody war to obliterate the Jewish state and drive Jews out of the Holy Land,” Trump said about Jewish Americans who vote for Democrats. He claimed at his first stop that Democrats have a “hold” or “curse” on Jewish voters. 

“It’s only because of the Democrat hold or curse on you. You can’t let this happen. 40% is not acceptable, because we have an election to win,” Trump said. 

Trump told the ballroom full of Israeli-Americans tonight that Israel will face “total annihilation” if Vice President Kamala Harris is elected.

“Rockets will rain down from above until the Iron Dome has been exhausted,” Trump said.

CBS News has reached out to the Harris campaign for comment. 

The former president also recognized the Israelis still held hostage by Hamas, vowing to “get them out” if he wins the presidency in November. Family members of victims of the Oct. 7 attacks by Hamas were among the crowd. 

“Somehow it’s going to work out. We’re going to get it to work out,” Trump said. 

The twin speeches come as Trump tries to court Jewish American voters who may have become disaffected with factions of the Democratic Party over the Biden administration’s handling of the ongoing Israel-Hamas war

An April 2024 Pew Research survey found that 69% of registered Jewish voters defined themselves as Democrats, while 29% said that they consider themselves Republicans, but Trump grew his support among Jewish voters in the first two presidential elections he ran in, an Associated Press survey found. 

“Honestly, I went from 25 to 29 [percent support], and based on what I did, and based on my love of- the same love that you have, I should be at 100. I should be at 100,” Trump said Thursday. 



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