These banks just raised their CD rates. Where to find the highest yields

A few banks are paying more interest on cash you might have lying about — if you're willing to lock up those funds for a few months. In April, several banks boosted the yields they pay on certificates of deposit, with rates on CDs maturing in a year or less rising 6 basis points to 3.71% and rates on 13- to 36-month instruments gaining 1 basis point to 2.62%, according to a Wednesday analysis from Morgan Stanley. A basis point is equal to one one-hundredth (0.01%) of a percent. …