Best CD Rates in WA (1-Month to 5-Year CDs)

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High Yield Savings Rates vs Best CD Rates in WA

Whether you are looking for the best Washington CD rates in Spokane, Seattle, Kent, or Tacoma, it’s important to ensure that you are thoroughly researching providers and products to find the best CD rates in WA.

However, it is possible that the best CD rates in WA do not match your financial needs or goals.

In these cases, you might want to consider high-yield savings accounts in Washington. Some online high-yield savings accounts offer much higher rates than offered by CD rates in Washington.

Early Withdrawal Penalties

Even if you find the best CD rates in WA, you won’t see the full benefit from those rates if you withdraw your funds before the CD has matured.

Of course, withdrawing your investment early is not recommended, but for some consumers, an early withdrawal may be necessary during events like a family or financial emergency.

Even if you don’t plan on withdrawing funds early, you should make sure that you understand your bank’s policies on early withdrawal penalties, just in case the occasion for an early withdrawal should arise.

Each Washington CD will have different early withdrawal penalties, often worth several months of interest from Washington CD rates.

However, it is possible that a withdrawal penalty could include some of the principal balance, which means that you could lose money you originally invested by withdrawing funds early.

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Conclusion: Finding the Top CD Rates that Washington Has to Offer

Keep in mind that, in most cases, you won’t be able to withdraw funds from a CD until the account has matured, which may cause a problem for consumers that want liquidity.

At the same time, however, a CD is an ideal option for those who struggle with depleting their savings accounts before they have a chance to grow it.

Consider your financial goals, your current savings plan, and the best CD rates in Washington, or across the nation, to determine whether investing in a CD is the right decision for you.

To explore various rates on financial products in Washington state, visit the WA rate table above.

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Click here to read AdvisoryHQ’s disclaimer on the rate table(s) displayed on this page.

Table source:

https://www.google.com/search?q=biggest+cities+in+washington&oq=biggest+cities+in+washington

Image source:

https://pixabay.com/en/seattle-washington-space-needle-2609031/

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Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

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