Rates for multi-year CDs are still relatively elevated and you’ll earn more money on them over their longer terms.įor example, imagine you deposit $10,000 into two CDs. That doesn’t mean you should discount longer-term CDs. In the market for a CD? Check out: The best CD rates.Īs you compare CD terms and not just CD providers, you’ll notice that some rates peak at 12 months. National Deposit Rates (as of November 20, 2023) To illustrate, here are your potential earnings from Capital One 360 CDs for various CD terms if you made a $10,000 deposit. A long-term CD is a great way to make more from your money. Whatever the APY though, the more you deposit into a CD and the longer you leave your money in it, the more you’ll earn.
In its March 2023 meeting, the Fed signaled that further rate increases are likely to happen this year, albeit at a slower pace than Americans experienced in 2022. The CD market is in flux thanks to the Federal Reserve raising interest rates to quash inflation, meaning you can find much higher APY now than you could have during most of the post-Great Recession era. How much can you earn with a Capital One 360 CD? Grace period for penalty-free withdrawals after maturity 6, 9, 12, 18, 24, 30, 36, 48 and 60 monthsĬDs with terms of 12 months or less: penalty of three months’ interest CDs with terms greater than 12 months: penalty of six months’ interest
