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Story summary
- Savers should evaluate potential interest earnings before investing in a certificate of deposit (CD).
- For a $3,000 CD, earnings can range from about $28 to nearly $650, depending on term length and rates.
- A CD may not offer the highest returns versus stocks, but it provides stability and protection against volatility.
- Savers should consider early withdrawal penalties and shop for competitive rates, especially with online banks.
