What Are Milwaukee CD Rates Paying You?
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A study of CD rates in Milwaukee was recently conducted by Milwaukee Banking Rates to find out how interest rates on accounts of various terms measure against the rest of the country. Unfortunately, it was found that Milwaukee CD rates don’t quite match the national average, though the gap between the two is just over a tenth of a percent.
The study compared interest rates for 6, 12 and 24 month certificate of deposit accounts in the city. The average rate for 6-month CDs is .46% APY, while the average 12-month CD rate is .75% APY and 24-month is 1.10% APY. These all fall under the national averages, which are .60% APY, .86% APY and 1.21% APY, respectively. While these differences are not staggering, they should be of concern to depositors who want to earn the best possible rates in a time when financial institutions are dropping interest offerings.
Milwaukee Banking Rates compiled these averages from the interest rates in its database. Rates are regularly collected from local banks and credit unions within a 50-mile radius of the city, and these rates were averaged by term and compared with those of financial institutions across the country.
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