economy
Here's how much interest a $75,000 CD account can earn now
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TL;DR
- CD accounts offer high, fixed interest rates, with many exceeding 4%, as the Federal Reserve maintains frozen interest rates.
- A $75,000 deposit in a CD can earn substantial returns, ranging from $730 in three months to over $17,000 in five years, depending on the term.
- CDs are significantly more profitable and predictable than traditional savings accounts, which currently average a 0.38% interest rate.
- Savers should be mindful of early withdrawal penalties, which could negate earned interest.
- Online marketplaces make it easy to compare CD rates, terms, and banks.