How much interest can a $1,000 CD account earn now (and is it worth opening)?
A $1,000 CD account can earn interest, but it may not be the best option for every saver. While it offers guaranteed returns, the amounts earned are relatively low unless the funds are kept for longer terms. Savers should consider their individual financial goals and explore other options for potentially higher returns.
- ▪$1,000 in a 3-month CD at 3.90% earns $9.61 upon maturity.
- ▪The highest return from a $1,000 CD is $228.40 after five years at 4.20%.
- ▪Savers may find better options by exploring high-yield savings or money market accounts.
Opening excerpt (first ~120 words) tap to expand
MoneyWatch: Managing Your Money How much interest can a $1,000 CD account earn now (and is it worth opening)? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CBS News — Top.
Discussion
0 commentsMore from CBS News — Top
