$3,000 CD vs. $3,000 high-yield savings account vs. $3,000 money market account: Here's which is most profitable now

MoneyWatch: Managing Your Money $3,000 CD vs. $3,000 high-yield savings account vs. $3,000 money market account: Here's which is most profitable 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 April 28, 2026 / 3:46 PM EDT / CBS News Add CBS News on Google Interest earnings on your $3,000 will grow differently depending on which account type you keep it in. TravelCouples/Getty Images Waiting to build up your savings before shifting your funds into a high-rate account may seem like the smart move to make now, but a quick look at the interest you're currently accumulating with a traditional savings account should cause you to quickly pivot. With the average rate on a traditional account just 0.38% (an actual decline from March when it was 0.39%), not only are you not earning nearly as much interest as you should, you're technically not even keeping pace with inflation, which recently moved past 3%. And with rates on certificate of deposits (CDs), high-yield savings and money market accounts all exponentially higher, there's no reason to wait any longer.So, while you may have been waiting to grow your $3,000, for example, into $5,000 or $10,000 before making a strategy shift, the reality is that you're losing interest earnings in the interim. To fix this issue, it helps to know which account type will be most profitable with a switch. Will a $3,000 deposit into a CD be the best choice now? Or will it earn more with a high-yield savings or money market account? Below, we'll do the math that...