Don't deposit $40,000 into either CD account term before knowing the interest earnings each offers right now.
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June 11, 2026 / 3:22 PM EDT
/ CBS News
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A $40,000 short-term CD can earn a significant return for savers now. But that's not the only advantage to know.
A $40,000 long-term CD will provide extended protection for your money and a big return once the account matures.
Interest earnings on a 1-year CD account remain competitive. Here's what savers need to know before getting started.
The interest-earning potential of a short-term CD and a high-yield savings account is similar now, but not identical.
A $50,000 deposit will grow differently in a short-term CD than it will in a money market account, especially now.
There are multiple ways to earn a big return on your $40,000 now (and one specific one that savers should avoid).
