$40,000 CD vs. $40,000 high-yield savings account vs. $40,000 money market account: Here's which will earn more now

MoneyWatch: Managing Your Money $40,000 CD vs. $40,000 high-yield savings account vs. $40,000 money market account: Here's which will earn more 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 30, 2026 / 3:28 PM EDT / CBS News Add CBS News on Google A $40,000 deposit will grow differently depending on the savings account type it is kept in. Getty Images/iStockphoto Yet another interest rate pause from the Federal Reserve this week may not have been the news millions of borrowers were hoping for. But it will likely maintain the status quo for savers, and that's a good thing for those accustomed to earning a competitive rate on their money. With savings account interest rates of 4% or higher ubiquitous lately and those offers unlikely to change now that the Fed is holding steady (there won't be another meeting again until June), savers who have yet to take advantage may want to seriously consider doing so now. And that's especially true for those looking for a home for a large, five-figure amount such as $40,000.Returns on a deposit of this size can be significant. And while a certificate of deposit (CD) account will require savers to sacrifice access to those funds, albeit temporarily, other accounts won't. High-yield savings and money market accounts, for example, come with rates competitive with the best CDs while still allowing savers to maintain access to their funds as needed. Before depositing your $40,000 into any of these accounts, it helps to start with the interest-earning...