Savers find CD accounts most profitable for $60,000 deposits
Updated
Updated · CBS New York · May 8
Savers find CD accounts most profitable for $60,000 deposits
4 articles · Updated · CBS New York · May 8
At current rates, a $60,000 CD earns about $1,217 in six months, $1,813 in nine months and $2,460 in a year, beating high-yield savings and money market accounts.
The comparison assumes variable savings and money market rates stay near 4.03% and 3.90%, while CD rates of about 4.05% to 4.10% remain fixed for the full term.
The analysis comes as inflation, rising living costs and stock market volatility push savers toward safer returns, though CDs limit access to funds and cannot benefit if variable rates rise.
With inflation at 3.3%, are top savings accounts actually growing your wealth, or just slowing its decline?
The Fed is on hold due to global risks. What happens to your savings if a new crisis forces rates even higher?
CDs offer safe returns, but is avoiding the stock market now a missed opportunity for substantial long-term growth?