Do CD rates go up with the prime rate? The prime rate is a benchmark widely used by banks when setting interest rates. Returns on savings accounts, interest-bearing checking accounts and CDs ...

Against this backdrop, then, savers considering a CD should know which steps to take – and which mistakes to avoid – going into 2025 ... your account maturity date and the new rollover ...

But what happens, exactly, when that CD term runs out and the account hits its maturity date? And what should savers be prepared to do that, particularly in today's still-elevated rate climate?

That said, CD interest rates are still favorable and relatively high. Savers will just need to take some strategic steps now, ahead of their account's 2025 maturity date, to keep their high returns.

This development will likely result in lower CD yields, just as the Fed’s decision to hike rates throughout 2022 and 2023 to stymie inflation led to yields increasing. While average CD rates ...