APY GUY

APY GUY tracks and publishes noteworthy APYs (annual percentage yields) on both fixed and variable rate deposit products from hundreds of banks and credit unions nationwide. In this September 2023 report, we’ve published what we’ve found to be the top CD rates available to residents in Florida looking for FDIC or NCUA insured, fixed-rate certificates of deposit.

Interest rates, including CDs (certificates of deposit), mortgages, and credit cards have all been on the rise in 2023 and look poised to continue to do so through the remainder of the year. With 3 more Fed meetings left in 2023 (September, November and December) there’s a chance the Fed will lift rates again in at least one of them.

Navy Federal Credit Union (NFCU) is the largest credit union in the U.S. with $165.2 billion in total assets and just over 12 million members. They offer a full suite of NCUA-insured deposit accounts including CDs (certificates of deposit), money market accounts, savings accounts, checking accounts, and IRAs. You must, however, have a family member (or household member) that served in any branch of the military to join the credit union. You can learn more about NFCU’s eligibility further below.

With our high rate environment and uncertain markets, you may be wondering which low-risk investment vehicle is best for your savings – annuities or CDs (certificates of deposit). While both have their advantages there are some key distinctions to make between the two. First, is that CDs tend to be for savers with shorter time horizons. Typically FDIC-insured banks and NCUA-insured credit unions offer CDs with fixed-rates for terms between 6 months and 5 years.

Charles Schwab is a multinational financial services company founded in 1971 and headquartered in San Francisco, California. Charles Schwab has an array of products and services that it offers to both retail and institutional clients encompassing commercial banking, stock brokerage, and wealth management advisory services. As of March 2023, they have 34 million active brokerage accounts, 1.7 million bank accounts and roughly $7.38 trillion (yes, with a T) in total client assets.

Chase Bank, headquartered in downtown Manhattan (New York City), is the largest bank in the United States with nearly $3.4 trillion in assets and 4,700 branch locations throughout the country. Their CD (certificate of deposit) rates are in line with the other large national banks (Bank of America, Citibank, U.S. Bank and Wells Fargo, but are slightly behind some of the best offers from online banks and credit unions with nationwide acceptance.

Bank of America hardly needs any introduction. They’re the second largest bank in the United States by assets, with over $3.169 trillion in total and they are the third largest bank in the country by branch locations with roughly 3,900 across all 50 states. They also service nearly 67 million consumers and business clients mostly in the United States but also within an additional 35 countries across the globe.

Capital One offers a number of online certificates of deposit as part of their 360 product suite. The terms come with standard lengths ranging from 6 months to 5 years and offer above average APYs (annual percentage yields). Capital One’s CDs are also available to a wide range of people as they have no minimum deposit requirements or any fees to worry about. To see if Capital One’s CD rates are right for you, continue reading our review below.

Founded in 1935 in Wausau, Wisconsin, Connexus Credit Union got its start as an employee-only credit union serving individuals and families affiliated with Employers Mutual, which later became the insurance giant Liberty Mutual. As with many credit unions that stand the test of time, Connexus Credit Union experienced growth through acquisition. Over the years they acquired a number of smaller credit unions that allowed them to broaden their membership eligibility to what it is today.

GreenState Credit Union, headquartered in North Liberty, Iowa, and founded in 1938 is one of the largest credit unions in the Midwest, with roughly 400,000 members and over $10 billion in assets. GreenState has 33 branch locations in Iowa and nearby counties in Illinois, Wisconsin, Nebraska and South Dakota.