Here's how much interest a $10,000 3-month CD will earn savers right now
If you have $25,000 currently sitting in a traditional savings account, moving it into a certificate of deposit (CD) instead may feel unconventional. CDs, after all, require savers to lock their money into the account to earn the listed interest rate.
Reported by 1 outlet — CBS News. See all sources ↓
If you have $25,000 currently sitting in a traditional savings account, moving it into a certificate of deposit (CD) instead may feel unconventional. CDs, after all, require savers to lock their money into the account to earn the listed interest rate. That means temporarily sacrificing access to your five-figure sum of money, which many may understandably not want to do in today's inflationary environment. But with interest rates still elevated, the principal here protected in a way it won't be if it was invested and the returns substantial on a deposit of this size, it can be a worthwhile and profitable move worth making anyway.
Read the full report at CBS News ↗
Why it matters
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- What's the story?
- If you have $25,000 currently sitting in a traditional savings account, moving it into a certificate of deposit (CD) instead may feel unconventional. CDs, after all, require savers to lock their money into the account to earn the listed interest rate.
- How widely is it covered?
- 1 outlet, average source rating 8.0/10.
- When was it last updated?
- 20h ago.
How outlets are framing the same story
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Here's how much interest a $25,000 1-year CD will earn if opened now
Sources1TypeCoverageCBS News