The best ways to take advantage of today's high CD rates, according to experts

In the current high interest rate environment, it's easy to find certificates of deposit paying 4%-5% annual percentage yields , if not more, depending on factors such as CD duration. Given the potential to earn a substantial, guaranteed return on your investment with these CD interest rates, you probably want to think strategically about how to optimize your CD choices.

This gives you the opportunity to access some portion of your funds regularly—say, every three months—without penalty, allowing you to address accessibility for emergencies while capitalizing on higher yields with less risk,' explains Jennifer White, senior director, banking and payments intelligence at J.D. Power.Search for promotions/special ratesAs part of shopping around for the best rates, also look for incentives that can make the base CD rate even more attractive.

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