Here's how much interest a $90,000 CD account can earn savers now
CBS News • • business
Key Points:
- Investing $90,000 in stocks, bonds, or real estate may offer higher returns, but comes with significant market risk, whereas a certificate of deposit (CD) provides a fixed, guaranteed interest rate.
- Current top CD rates for a $90,000 deposit range from 3.90% for 3 months to 4.16% for 2 years, yielding between approximately $865 and $7,644 in interest upon maturity.
- High-yield savings accounts and money market accounts offer competitive, variable interest rates close to CD rates without the withdrawal restrictions, with money market accounts also providing check-writing capabilities.
- While CDs require locking in funds, they offer principal protection and predictable returns, making them a viable option in today's uncertain economic environment.
- Savers should carefully compare CDs, high-yield savings, and money market accounts to determine the best fit for their $90,000 based on liquidity needs and interest rate preferences.