Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

Originally Published: Jul 26, 2022
Originally Published: Jul 26, 2022 Last Updated: Jan 10, 2024 5 min read

Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.

Photo collage of a stack of coins and a folded Dollar Bill into a $ sign with an ascending arrow in the background
Money; Getty Images

Although mortgage and credit card APRs are marching higher with no end in sight, the silver lining of rapidly rising interest rates is that savers are finally in a position to earn better returns on CDs, money market accounts and funds, and even on plain-vanilla savings accounts.

To be sure, this isn’t exactly great news when the prices for everything from housing to haircuts seem to be spiraling out of control. But after years of getting practically zilch for your money, it’s at least a small consolation prize as banks use this opportunity to grab market share.

*Rates and APYs are subject to change. All information provided here is accurate as of May 19, 2023.

How high could interest rates go?