How much interest can a $100,000 3-year CD account earn savers at today's rates?
Savers looking to grow their money in the next few years should consider the returns a $100,000 3-year CD offers now.
In today's market, investors with a substantial sum, such as $100,000, may find that a certificate of deposit (CD) account is a more secure investment option than stocks. CD rates are currently high and may rise further later this month, providing a fixed rate of return that is unaffected by fluctuating markets. A 3-year CD, in particular, offers one of the best rates for savers this September, making it a compelling choice.
However, early withdrawal penalties could be significant if the account holder needs to access their funds before maturity.
Currently, 3-year CD accounts are offering some of the highest rates available not just for CDs, but also for high-yield savings and money market accounts. Here's how much interest a $100,000 3-year CD account can earn savers at three of the top available rates as of this September:
* A 4.35% rate would result in $13,625.91 upon account maturity.
* A 4.40% rate would yield $13,789.32 upon account maturity.
* A 4.50% rate would result in $14,116.61 upon account maturity.
These potential returns range from approximately $13,626 to $14,117, making a $100,000 3-year CD account an attractive option for savers who prioritize a predictable return while avoiding market volatility. However, it's crucial to keep the account untouched to realize these returns, as early withdrawal fees could offset the gains. Savers should therefore shop around for banks, with online institutions often offering more competitive rates than traditional brick-and-mortar banks.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
