Top CD Rates Now Beat Inflation, Offer 5% Returns to Savers

Today's top CDs offer returns over 5%, beating the current 3.1% inflation rate. Examples include Space Coast Credit Union (5.61% APY) and CIBC Bank (5.51% APY).

High inflation has driven up interest rates on bank accounts like CDs. This makes them good options for savings goals like a car or house down payment.

Minimum deposit amounts and terms vary across CD accounts that outpace inflation. Some have minimums as low as $500 while others require $10,000 or more.

Shorter-term CDs of 3, 6, or 9 months are now offering over 5% APY. This gives flexibility if you don't want to lock up money.

Opening a high-yield CD allows you to lock in an inflation-beating return on savings right now. But compare minimum deposits and terms to find the best fit.