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13 best 2-year CD rates right now
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When it comes to earning more interest on the money in your savings, there are no shortages of options right now. Not only do high-yield savings accounts offer interest rates that are significantly higher than they were just a few years ago, but so do lots of other interest-bearing account options, like money market accounts and certificates of deposit (CDs). In fact, it’s easy to find high-yield savings accounts and CDs offering rates that are well above 5% currently. But while you have lots of options for earning interest on your money, not all of the options are a good fit for every saver.
For example, high-yield savings accounts may offer some of the top rates available today, but those rates are variable, meaning that they can change when the overall rate environment changes. And, given all of the unknowns with the current economy — like inflation, which ticked back up unexpectedly in December — it’s likely there will be changes at some point in the near future. That could be favorable for savers if rates increase, but if rates fall, you’ll earn less with this type of account.
That isn’t the case with CDs, though. When you open a CD, you agree to keep your money in the account for the full CD term in exchange for a fixed rate, so future rate changes won’t impact your earnings during that term. But not every saver is ready to commit to a long-term CD — which is where 2-year CDs come in. These types of CDs offer high rates and a term that may be more favorable compared to a 5-year or 10-year CD. If you’re going to open a 2-year CD, though, it’s important to make sure you get the best rate possible on your money.
Find out the top CD rates available to you here.
13 best 2-year CD rates right now
If you’re looking for a CD that offers a longer term but aren’t ready to commit to leaving your money in the account for several years, the following 2-year CDs could be worth considering:
- Dover FCU 2-year CD — 5.39% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 180 days of interest
- Digital FCU 23-month CD — 5.39% APY: Note: This CD is technically a 23-month CD, not a 24-month CD. The minimum opening deposit amount on this CD is $25,000; the early withdrawal penalty is equal to 90 days of interest
- Amboy Direct 2-year CD — 5.38% APY: The minimum opening deposit amount on this CD is $25,000; the early withdrawal penalty is equal to 180 days of interest
- Pelican State Credit Union 2-year CD — 5.27% APY: The minimum opening deposit amount on this CD is $10,000; the early withdrawal penalty is equal to nine months of interest
- Monesty 2-year CD — 5.27% APY: The minimum opening deposit amount on this CD is $500; an early withdrawal penalty may apply for accessing funds in this account prior to maturity
- Signature Federal Credit Union 2-year CD — 5.25% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 12 months of interest
- Magnifi Financial 23-month CD — 5.25% APY: Note: This CD is technically a 23-month CD, not a 24-month CD. The minimum opening deposit amount on this CD is $2,500; the early withdrawal penalty is equal to 180 days of dividends
- Library of Congress FCU 2-year CD — 5.25% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 180 days of interest
- Xcel FCU 2-year CD — 5.25% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 180 days of interest
- Department of Commerce FCU 23-month CD — 5.24% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 180 days of interest
- Lafayette FCU 2-year CD — 5.20% APY: The minimum opening deposit amount on this CD is $500; the early withdrawal penalty is equal to 270 days of interest
- United States Senate FCU 2-year CD — 5.18% APY: The minimum opening deposit amount on this CD is $1,000; the early withdrawal penalty is equal to 120 days of interest
- Credit Human 23-month CD – 5.10% APY: Note: This CD is technically a 23-month CD, not a 24-month CD. The minimum opening deposit amount on this CD is $500; an early withdrawal penalty may apply for accessing funds in this account prior to maturity
Explore today’s best CD options online here.
The bottom line
You have lots of options for maximizing the returns on your savings — but 2-year CDs are one of the top options worth considering right now. There are lots of benefits to locking in a top CD rate right now, and when 2-year CDs are offering the types of rates you can get right now, it’s easy to rake in the high returns without much effort. As with any type of financial account, though, just make sure to find the one that works best for your needs and goals. Otherwise, you could be facing some hefty early withdrawal fees — and that would have a big impact on your overall earnings potential.
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A new Barbie has joined Mattel’s lineup of inclusive dolls. The first “Diwali doll” was announced by the toymaker on Friday, a few weeks shy of the Hindu holiday of Diwali, also known as the festival of lights.
The festival, which lasts for five days, is marked on Western calendars to begin on Nov. 1, but some celebrations start on Oct. 31.
The doll, created in collaboration with fashion designer Anita Dongre, features traditional elements including the lehenga skirt, floral print and golden shoes, according to Mattel’s website. The doll is available at major retailers for $40.
“The look is infused with beauty and symbolism to rejoice in victory of light over darkness with contemporary silhouettes,” the description reads for the Diwali doll.
Lalit Agarwal, country manager for Mattel India, said in a news release that through the Diwali doll, the brand is hoping to showcase “India’s vibrant cultural heritage on a global stage while continuing to celebrate the power and beauty of diversity.”
Earlier this year, Mattel announced the first-ever blind Barbie doll and a Black Barbie with Down syndrome.
In addition, to celebrate International Women’s Day on March 8 and Barbie’s 65th birthday on March 9, the doll brand announced it was adding new dolls to its Role Models collection, based on real-life singers and actresses from around the world. They’re not for sale – a one-of-a-kind doll was made for each of the honored women.
The dolls are meant to introduce “girls to remarkable women’s stories to show them you can be anything,” according to Mattel.
Hollywood actor Keanu Reeves made his professional auto racing debut on Saturday at the famed Indianapolis Motor Speedway.
“The Matrix” star, who qualified 31st out of 35 cars, ran as high as 21st before a single-car crash a little more than halfway through the 45-minute race briefly stopped him in his tracks.
Darron Cummings / AP
The 60-year-old spun into the grass without a collision on the exit of Turn 9 when he had about 21 minutes of racing left. He re-entered the course and continued driving, signaling he was uninjured.
Reeves finished 25th.
The actor is competing at Indianapolis in the Toyota GR Cup, a Toyota spec-racing series and a support series for this weekend’s Indy 8 Hour sports car event. He has a second race on Sunday.
Darron Cummings / AP
He is driving the No. 92 BRZRKR car, which is promoting his graphic novel “The Book of Elsewhere.” He is teammates with Cody Jones from “Dude Perfect.”
Reeves has previous racing experience as a former participant in the Toyota Grand Prix of Long Beach in the celebrity race. Reeves won the event in 2009.
A passenger successfully landed a small plane on Friday after the pilot had a medical emergency, the Federal Aviation Administration said.
The twin-engine Beechcraft King Air 90 was traveling from Henderson Executive Airport in Las Vegas, Nevada to Monterey Regional Airport in California, with a pilot and one other person on board, the FAA said.
The pilot suffered an unspecified medical emergency while flying, the FAA said, forcing the passenger to take the controls and make an emergency landing at Meadows Field Airport in Bakersfield, California.
The Kern Fire Department told CBS News affiliate KBAX that firefighters were called to a report of a medical emergency on the plane. The pilot was reported to be “incapacitated,” the fire department said. Firefighters saw the plane approach and land safely, then “chased” the plane down the runway in emergency vehicles to meet it.
The FAA did not release the passenger or pilot’s identities nor give an update on the pilot’s condition. The pilot was taken to an area hospital by ambulance. The passenger did not report any injuries.
The FAA and the National Transportation Security Board will investigate the incident, the FAA said.
