January 2028 may feel like a long way off, but for some savers, that could be the whole point.
In today's economic climate, in which inflation is surging, borrowing costs are elevated and the likelihood of either declining in the short term appears low, savers understandably find themselves looking for ways to protect and grow their money. Fortunately, this is where a certificate of deposit (CD) account can come in handy.
A long-term, 18-month CD, in particular, can offer savers extended protection on their principal while still growing their interest with a rate ranging from 4.15% to 4.20%, approximately. And that rate will be fixed and held until the account matures in early January 2028. So, if you have a five-figure amount such as $10,000 saved right now and aren't sure of where to deposit it, this could be a viable, secure and profitable option worth serious consideration.
Still, locking up this much money for this long shouldn't be done recklessly either. An early withdrawal fee could negate all of the interest earned to that point, so you'll want to make sure that this is the right fit for you now, before transferring your money. To determine the value an account of this size and length offers, then, it helps to start with the interest-earning potential. And that's easy to calculate thanks to that fixed interest rate.
Start earning more interest on your money with a CD account now.
In today's economic climate, in which inflation is surging, borrowing costs are elevated and the likelihood of either declining in the short term appears low, savers understandably find themselves looking for ways to protect and grow their money. Fortunately, this is where a certificate of deposit (CD) account can come in handy.
A long-term, 18-month CD, in particular, can offer savers extended protection on their principal while still growing their interest with a rate ranging from 4.15% to 4.20%, approximately. And that rate will be fixed and held until the account matures in early January 2028. So, if you have a five-figure amount such as $10,000 saved right now and aren't sure of where to deposit it, this could be a viable, secure and profitable option worth serious consideration.
Still, locking up this much money for this long shouldn't be done recklessly either. An early withdrawal fee could negate all of the interest earned to that point, so you'll want to make sure that this is the right fit for you now, before transferring your money. To determine the value an account of this size and length offers, then, it helps to start with the interest-earning potential. And that's easy to calculate thanks to that fixed interest rate.
Start earning more interest on your money with a CD account now.
2 months ago
