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Best 5-year CD rates — June 2021

Best 5-year CD rates June 2021 Bankrate 11 hrs ago © KOLOstock/Getty Images Family spending time together A certificate of deposit, or CD, is a financial product that allows you to stash away some cash and earn a fixed rate of interest on that cash for a set period of time. In exchange for handing over your money for a specified and longer term, banks are usually willing to offer you a higher interest rate. For example, a 5-year CD can earn you a higher (and guaranteed) rate than a typical savings account while still offering safety. Popular Searches Summary of best 5-year CD rates for June 2021

Best 6-month CD rates — June 2021

Best 6-month CD rates June 2021 Bankrate 6 hrs ago © Provided by Bankrate Aerial view of forest from above Anytime you deposit into a CD, you promise to leave the money there for a set period of time. When you get a 6-month CD, the money remains in the deposit account for six months. Because you re willing to lock the money away, a bank might be willing to pay you a higher yield on the money. Popular Searches If you want to know how much interest you could earn on a 6-month CD, try Bankrate s calculator, which is designed to help you estimate potential earnings. Six months may not be a long time, but it can be useful when it comes to staying on track with your savings goals or setting up an emergency savings ladder.

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