Interest rates are high these days. Those high rates mean it's possible to earn a strong return on deposit accounts. A popular option among these is a certificate of deposit . With CDs, you commit to leaving your money in the account through its entire term. In exchange, the financial institution agrees to pay you a meaningful interest rate - one that's typically higher than you can expect from savings accounts.
54 upon the account's maturity. Some other compelling options include Popular Direct and Quontic Bank, which pay 4.50% and 4.40%, respectively on their 3-year CDs. Here's what you could earn on a $17,500 deposit into these accounts: Popular Direct: You would earn $2,470.41 in interest after three years for a total balance of $19,970.41 upon the account's maturity. Quontic Bank: You would earn $2,413.13 in interest after three years for a total balance of $19,913.