Why a short-term CD may be better in 2024 Short-term CDs are likely your best bet if you want easier access to your money. This might be the case if you need a financial safety net, you're worried ...

Long-term CDs give you the opportunity to earn today's rates for up to 5 or even 10 years. Getty Images/iStockphoto Saving money can be a challenge in an economy with persistent inflation.

For savers looking for yield, one-year CDs now offer the highest average rates available for deposit accounts, at 1.63%, according to the Federal Deposit Insurance Corporation (FDIC).

Short-term and long-term CDs both offer low-risk returns. However, you still risk opportunity costs. If you invest in short-term CDs and rates decline by the time they mature, you may wish you had ...

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Callable CDs should state a noncallable period, or the initial time when the CD cannot be called. For example, a five-year CD may have a one-year call-protection period.

CDs and T-bills currently offer similar interest rates, though it varies based on the term. CDs: Right now, most CDs yield about 4.00%. Some CDs with terms of 14 months or less pay up to 4.50%.

We'll assume that CDs yield 4% per year, while the S&P 500 returns 8% per year -- less than its historical average. Here's how much a single $10,000 investment would grow over time.

CDs are insured up to $250,000 by the FDIC, just like savings and checking accounts. But there are some limits and restrictions you should be aware of. For instance, brokered CDs are not always ...