Many savers are turning to one-year certificates of deposit (CDs) right now, and for good reason. They often pay competitive yields on money invested for a specific period. CDs offer fixed interest rates, which make it easier to calculate interest compared to other types of savings accounts. Like savings accounts, CDs earn interest and are a safe way to grow your money over time.
Don't sleep on these great CD rates—many CDs yield more than 5% APY. See which CDs made the cut. The best CD rates remain around 5% annual percentage yields, particularly for six-month through one-year terms. But more short-term rates are also available. Capital One offers 10 certificate of deposit (NASDAQ:CD) terms, ranging from six months to 60 months. The bank's CD rates are very competitive, making it a popular choice for many savers.
Thinking about opening a CD? Here's how to know exactly how much you can earn before you get one. Use the CD calculator to see the total interest you can get on a certificate of deposit. Certificate of deposit (NASDAQ:CD) earnings can be impressive, depending on the interest rate and term. Learn how CD investments work and how much you can earn before making a decision.