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June 12, 2026 / 12:27 PM EDT
/ CBS News
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Is a CD or high-yield savings account better for seniors now?
Both account types have pros and cons that seniors should evaluate before getting started in today's economy.
TL;DRAI
CDs and high-yield savings accounts now offer 4% or higher rates versus 0.38% traditional accounts—critical for seniors protecting purchasing power amid rising inflation. CDs lock capital at fixed returns; HYSA provides access flexibility but variable rates, requiring seniors to choose based on liquidity and safety priorities.
740 words~3 min read
