The Best Business CDs for August 2024: APYs above 5%



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Fortune.com, Written by Rachel Witkowski, Reviewed by Abigail Rueger, 08/08/2024


As interest rates stay elevated, business owners looking to grow stable earnings should take a look at current business certificates of deposit (CDs) offerings. Business CDs are a secure option for business owners to earn higher interest rates on their savings without as much market volatility.

When you open a business CD, you agree to deposit a certain amount of money for a fixed term, ranging from a few months to several years. In return, the bank pays interest, typically at a rate higher than that of a regular business savings account. However, it’s important to keep the funds in the CD for the full term so you are not charged an early withdrawal penalty. 
 
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