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3 smart CD moves to make before March

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By calculating the interest they could make with a CD now versus waiting for waits to change, savers will quickly see that it’s worth acting now.

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The interest rate environment has been volatile in recent years, hitting record lows during the height of the pandemic in 2020 and 2021 and surging to decade-highs in 2022 and 2023. Inflation rose to the highest point in more than 40 years in June 2022 and the benchmark interest rate range set by the Federal Reserve hit a 23-year high last summer. This has resulted in a tremendous turnaround for borrowers who paid almost nothing to borrow money a few years ago but are now paying exponentially more for mortgages, credit cards, personal loans and more.

The recent turmoil has been a boost for savers, however, thanks to tremendous returns on high-yield savings and certificates of deposit (CD) accounts. Both account types, however, derive their benefits from the interest rate climate. As that adjusts they may revert to the norms of recent years. 

This is why it’s so important to time the opening of these accounts just right. And CDs, in particular, need to be opened at the opportune time. With inflation still stubborn and another Federal Reserve meeting on the horizon next month, there are some smart CD moves savers may want to make before March. Below, we’ll break down three of them.

Start by learning how much you could be earning with a top CD here now.

3 smart CD moves to make before March

Here are three strategic CD moves to make before March.

Shop around for lenders

Not all banks and lending institutions will offer you the same CD rate. You’re much more likely to find a competitive rate with an online bank versus one with physical locations, for example. Since the former type doesn’t have the overhead costs that the latter one does, they’re often able to offer savers higher rates. 

But even online banks will offer different rates from one another so, before committing to any specific one, first shop around for lenders to see what you can find. Ideally, you’ll be able to secure an account with a high APY and no fees.

Start shopping for CDs online today.

Know your options

Not only do CDs come with different rates and fees, but they also come in different lengths (or terms). So it behooves savers to know these options before getting started. Right now, short-term CDs (which mature in 12 months or less) typically have higher rates than long-term CDs (which can last for multiple years). 

That said, in the face of presumed rate cuts later this year, there’s a compelling case to be made for opening long-term CDs now. By opening one of these account types now, you’ll lock in a high rate for the future, even if rates come down in the interim. However, you’ll need to be comfortable leaving your funds untouched for the duration of the CD term or you could risk being hit with an early withdrawal penalty. But research your options first before acting.

Get started

Once you’ve shopped around for lenders, reviewed your options and picked a CD term, it’s important to get started. Today’s CD rates won’t be around forever and many are forecasting a drop later this year, possibly as soon as May or June

With this context, it’s important not to delay opening an account. While a rate drop isn’t likely to dramatically reduce the returns you can get with a CD (at least not in 2024), every dollar counts and it would be counterproductive to wait for that to happen. So get started today. 

And if you’re concerned about missing out on potential rate increases, don’t be. Even if rates do jump in the future, you can ladder multiple accounts with different maturity dates now so that one or more expire in time to take advantage of rate opportunities in the future.

Get started here today!

The bottom line

When it comes to savings vehicles like CDs, the timing is crucial. And right now is a great time to get started, before the next Federal Reserve meeting and possible rate reductions to come later in 2024. Savers should start shopping for lenders this month and know what kind of term they’re looking for before opening an account. Once they’ve taken those two steps, they should feel comfortable acting quickly to open an account. Since these high rates are unlikely to stay this high much longer, it’s beneficial to be proactive, even before the start of a new month.



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Former President Donald Trump is returning to Butler, Pennsylvania, today to hold a rally. Twelve weeks ago, a would-be assassin opened fire on him there. Meanwhile, Vice President Kamala Harris is set to visit North Carolina to review federal relief efforts after Hurricane Helene.

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Eye Opener: At least 70 people killed in gang attack in Haiti, United Nations says

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The United Nations said at least 70 people have been killed in a gang attack in Haiti. Meanwhile, a 21-year-old Yazidi woman was rescued from Gaza after a decade. All that and all that matters in today’s Eye Opener.

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Floods, landslides struck parts of Bosnia as residents slept, leaving at least 16 dead and several missing

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A severe rainstorm struck Bosnia overnight Friday, killing at least 16 people in floods and landslides in several towns and villages in central and southern parts of the country, with surging waters rushing into people’s homes as they were sleeping.

Rescue services in the south said several people were missing and called on volunteers and the army to assist as roads were closed and houses left without electricity.

Josip Kalem, a resident of Fojnica, one of the towns hit by the floods, said his dog’s barking woke him up at around 4 a.m. When he came out on the terrace, he saw the water rising rapidly.

“I came down, woke up my wife, and we looked around, we could not get out of the house. We saw more and more water coming in,” he said. “All of a sudden, the water was flooding the garage, basement, my car — everything. The water swept it all away, including my dog. Flood took it downstream.”

Andja Milesic, another resident of Fojnica, also said she was caught by surprise in the middle of the night.

“When I woke up, my bedroom floor was already soaked. I walked into the hallway — water was everywhere — the living room, everywhere,” she said. “It was horrible.”

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A car is submerged in flood waters outside an apartment building in the village of Kiseljak, northern Bosnia, Friday, Oct. 4, 2024.

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Darko Juka, a spokesman for the local administration, said at least 14 people had died in and around the southern town of Jablanica. Officials later said two more bodies have been found.

“Those are the ones who have been discovered by rescuers,” he said. “We still don’t know the final death toll.”

“I don’t remember such a crisis since the war,” Juka said referring to the 1992-95 war in Bosnia that left the country in ruins. “The scale of this chaotic situation is harrowing.”

Defense Minister Zukan Helez told N1 regional television that troops have been engaged to help and that the casualties were reported.

Helez said that “hour after hour we are receiving news about new victims. … Our first priority is to save the people who are alive and buried in houses where the landslides are.”

A pregnant woman lost her baby after she was rescued from the floods and transferred to a hospital in the regional center of Mostar. Authorities said doctors were fighting for her life as well. Separately, a child was successfully rescued and hospitalized, local officials said.

Rescue services in the towns of Jablanica and Kiseljak said the power was off overnight and mobile phones lost their signal.

The Jablanica fire station said that the town was completely inaccessible because roads and trainlines were closed.

“The police informed us that the railroad is also blocked,” the state rescue service said in a statement. “You can’t get in or out of Jablanica at the moment. Landline phones are working, but mobile phones have no signal.”

It urged people not to venture out on the flooded streets.

Human-caused climate change increases the intensity of rainfall because warm air holds more moisture. This summer, the Balkans were also hit by long-lasting record temperatures, causing a drought. Scientists said the dried-out land has hampered the absorption of floodwaters.

Bosnia Flooding
Apartment buildings are reflected at a flooded soccer field after a heavy rain in the village of Kiseljak, northern Bosnia, Friday, Oct. 4, 2024.

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Drone footage broadcast on Bosnian media showed villages and towns completely submerged under water, while videos on social networks showed dramatic scenes of muddy torrents and damaged roads.

One of the busiest roads linking Sarajevo with the Adriatic coast via Jablanica was swept into a river, together with a railway line in a huge landslide, according to photos.

“Many people are endangered because of big waters and landslides. There is information about victims and many injured and missing persons,” said the civic protection service.

Authorities urged people to stay on the upper floors of their homes. Reports said surging waters swept away domestic animals and cars as the water swiftly filled up lower floors of buildings.

The heavy rains and strong winds were also reported in neighboring Croatia, where several roads were closed and the capital of Zagreb prepared for the swollen Sava River to burst its banks.

Heavy winds have hampered traffic along the southern coast of the Adriatic Sea, and flash floods caused by heavy rain threatened several towns and villages in Croatia.

Floods caused by torrential rains were also reported in Montenegro, south of Bosnia, where some villages were cut off and roads and homes flooded.

In 2014, floodwaters triggered more than 3,000 landslides across the Balkans, laying waste to entire towns and villages and disturbing land mines leftover from the region’s 1990s war, along with warning signs that marked the unexploded weapons.



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