February 14, 2024 / 4:25 PM EST / CBS News CD accounts offer a great way to grow and protect your money right now but the long-term forecast is unclear. Getty Images ...

Why a long-term CD is better: Just compare the potential rates. You can get a 4.20% rate on a 3-year CD and a 4.35% rate on a 5-year CD now - that's 876% and 911% better than what traditional ...

CD rates are at record levels not seen since at least 2009, with dozens of options paying an annual percentage yield (APY) of at least 5.00% and reaching as high as 5.35%.

Today's CDs allow you to lock in a record rate—up to 5.75%—for months or years down the road when savings account rates inevitably drop. Is now a good time for a CD?

Some of the best CD rates have started to drop for several CD terms, but you can still find many nationwide competitive options paying around 5% APY. Find out if now is a good time to open a CD.

Right now, CD rates generally top out around 4.50%, according to Bankrate, while money market account rates are around 4.46% or lower.

The highest short-term CD, based on the banks that CNET tracks, offers 4.75%, while the highest long-term CD is paying 4%. That doesn't mean you shouldn't lock in a long-term CD.

Why you shouldn't wait to open a CD With rates still attractive, now’s the time to open a CD and lock in a high APY. But a fixed rate isn't the only perk you'll enjoy by opening a CD today.

The best megabank CD rates now Here are the current top CD rates offered by the biggest traditional banks, which we’ve defined as banks that are among the top 10 by asset size as ranked by the ...

$5,000 CD vs. $5,000 traditional savings account: Which earns more interest right now? Calculating the interest earnings on a CD is simple, thanks to the fixed interest rate it comes with.