Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsThe available May 2024 figures do not establish which certificates of deposit (CDs) were the best offers available to New York residents. They do provide useful national context: the FDIC reported national average rates, while Bankrate tracked national top rates. Neither series is a New York ranking, so it would be misleading to name a state “best” from these figures alone.
May 2024 CD rates: national averages and top rates
The two sources measure different things. The FDIC’s national averages reflect rates paid across insured institutions and credit unions for which data was available, weighted by each institution’s share of domestic deposits. Its CD calculations used $10,000 and $100,000 product tiers, drawing on S&P Capital IQ Pro/SNL Financial Data with FDIC calculations. Bankrate’s figures are tracked national top APYs, not averages. Neither shows that a particular offer was available to New York residents.
| CD term | FDIC national average (May 20, 2024) | Bankrate national top APY (May 1, 2024) |
|---|---|---|
| 6 months | 1.79% | 5.30% |
| 1 year | 1.80% | 5.36% |
| 2 years | 1.54% | 4.82% |
| 3 years | 1.42% | 4.66% |
| 4 years | Not stated by the FDIC in the listed maturities | 4.50% |
| 5 years | 1.40% (60 months) | 4.55% |
Sources: FDIC national rates, May 2024; Bankrate historical CD rates. The figures are snapshots dated May 20 and May 1, 2024, respectively; they are not current offers.
Why these figures do not identify New York’s best CD
A national average describes a broad market level, and a national top-rate series identifies high rates tracked nationally. Neither establishes that an account could be opened by a New York resident on the stated terms. A defensible state ranking would require dated offer evidence for each institution, including New York eligibility, APY, term, minimum opening deposit, and early-withdrawal penalty. Without that evidence, no institution can be reliably named as the best in New York for May 2024.
#1 Best Overall
- [LARGE DISPLAY] - The huge LCD screen that clearly displays big numbers makes it easy to read from afar, and it’s aesthetically pleasing.
- [SENSITIVE AND BIG BUTTONS] - Your calculation process will be faster and smoother with this calculator’s responsive buttons. Once pressed, the buttons quickly register and display the corresponding number on the screen. The big size of the buttons prevents you from hitting the wrong button.
- [DUAL POWER DESIGN] - This calculator utilizes both the solar power and battery power (battery included). The solar panel, as long as you use it in a lit environment, will power up the calculator thoroughly.
- [VERSATILE PURPOSES] -This calculator is designed for many occasions: business, office, home, basic budgeting, school, and more. Use it to assist your personal finance or just a quick calculation session.
- [FUNCTIONALITIES] - Add, subtract, multiply, divide, backspace, grand total, CE, %, M+/M-/MRC, On/AC Button, and Auto Power-Off. The calculator will turn itself off after about 6 minutes of being idle.
What to compare when choosing a CD
A CD is a deposit account that pays a stated rate for a specified period in exchange for limiting access to the money. New York’s Department of Financial Services describes common CD terms as usually six months to five years and notes: “Most banks charge a penalty for early withdrawal.” See its guidance on banking and sending money safely.
- Term: Match the maturity date to when you expect to need the money. Common terms include six months, one year, two years, and five years.
- APY: The annual percentage yield is an annualized measure of earnings. New York DFS defines it as what a deposit earns if left in the bank for one year. Compare APYs only after checking the account’s term, compounding, minimum deposit, and eligibility.
- Minimum deposit: Confirm the amount required to open the account and whether the quoted rate applies at that deposit level.
- Early-withdrawal penalty: Check the disclosure before opening. A higher yield may not be worthwhile if you may need to withdraw before maturity.
- Eligibility and protections: Verify that the offer is open to New York residents and check the institution’s deposit-insurance status and account terms.
How to read the May 2024 numbers
At six months and one year, Bankrate’s tracked national top APYs were 5.30% and 5.36%, compared with FDIC national averages of 1.79% and 1.80%. That gap illustrates the difference between a tracked top rate and an average; it does not show that a New York customer could obtain either top rate. The same caution applies to the longer maturities in the table.
Rank #2
- EASY-TO-USE DESIGN - With its large screen, this calculator is made for convenient and comfortable everyday use. Its tilted and angled display allows you to easily see your calculations without straining your eyes.
- LARGE RESPONSIVE BUTTONS - Spacious button sizes ensure that your fingers are much less likely to hit the wrong number, all while providing a satisfying sensation when typing.
- ROBUST BUILD - Built with a sturdy and premium plastic body, this desktop calculator is constructed with everyday use in mind. It is convenient, powerful, and long lasting.
- VERSATILE FUNCTIONS - With its add, subtract, multiply, divide, percent, grand total and CE Button functionalities, this calculator's versatile nature allows it to be used in many occasions.
- DUAL POWER SOURCES - With the aid of its dual solar and battery power system, this calculator is fully powered in any lit environment. The battery comes included with the calculator, ensuring quick and easy access right away. PLEASE NOTE: The calculator will turn itself off after about 6 minutes of being idle.
For readers asking how much CDs paid in May 2024, the FDIC figures are broad national averages, while Bankrate’s series offers a separate view of tracked national highs. Treat both as historical context, not a guide to current rates or a verified list of New York offers.
Quick Recap
Best Value
- EASY-TO-USE DESIGN - With its large screen, this calculator is made for convenient and comfortable everyday use. Its tilted and angled display allows you to easily see your calculations without straining your eyes.
- LARGE RESPONSIVE BUTTONS - Spacious button sizes ensure that your fingers are much less likely to hit the wrong number, all while providing a satisfying sensation when typing.
- ROBUST BUILD - Built with a sturdy and premium plastic body, this desktop calculator is constructed with everyday use in mind. It is convenient, powerful, and long lasting.
- VERSATILE FUNCTIONS - With its add, subtract, multiply, divide, percent, grand total and CE Button functionalities, this calculator's versatile nature allows it to be used in many occasions.
- DUAL POWER SOURCES - With the aid of its dual solar and battery power system, this calculator is fully powered in any lit environment. The battery comes included with the calculator, ensuring quick and easy access right away. PLEASE NOTE: The calculator will turn itself off after about 6 minutes of being idle.
Rank #4
Rank #3
- [LARGE DISPLAY] - The huge LCD screen that clearly displays big numbers makes it easy to read from afar, and it’s aesthetically pleasing.
- [SENSITIVE AND BIG BUTTONS] - Your calculation process will be faster and smoother with this calculator’s responsive buttons. Once pressed, the buttons quickly register and display the corresponding number on the screen. The big size of the buttons prevents you from hitting the wrong button.
- [DUAL POWER DESIGN] - This calculator utilizes both the solar power and battery power (battery included). The solar panel, as long as you use it in a lit environment, will power up the calculator thoroughly.
- [VERSATILE PURPOSES] -This calculator is designed for many occasions: business, office, home, basic budgeting, school, and more. Use it to assist your personal finance or just a quick calculation session.
- [FUNCTIONALITIES] - Add, subtract, multiply, divide, backspace, grand total, CE, %, M+/M-/MRC, On/AC Button, and Auto Power-Off. The calculator will turn itself off after about 6 minutes of being idle.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
The Tool Desk
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