3 signs that it's time to open a CD account now

MoneyWatch: Managing Your Money 3 signs that it's time to open a CD account now We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson June 2, 2026 / 1:10 PM EDT / CBS News Add CBS News on Google Savers should weigh the timing of a CD account opening carefully, especially in today's economy. J Studios/Getty Images In today's unique economic climate, millions of Americans find themselves uncertain about their next steps. With inflation surging to its highest level in three years, but with high interest rates on hold and stock market performance strong, it's not exactly clear what savers should and shouldn't be doing right now. But it's also important to avoid indecision, especially considering that rates are elevated on select savings accounts, meaning that you can likely be earning more interest on your money both now and potentially for months and years still ahead.One of the better ways to do so is with a certificate of deposit (CD) account. This account type comes with a high, fixed interest rate that will hold steady in today's volatile economic climate. That will allow savers to earn a large and reliable return as they'll be able to calculate their interest earnings with precision in advance. That said, this account type isn't the right fit for every saver, and an early withdrawal penalty can be costly and will need to be avoided, especially now. To better determine if a CD account makes sense for you now, it helps to know some signs that it could be the right move to make. Below, we'll...