Maximizing Your Earnings: Investing $2,500 in a CD or Money Market Account

Investing $2,500 in a one-year CD can earn a higher yield than savings or money market accounts, with the national average rate currently at 1.68%. However, savers who shop around can find one-year CD rates that are significantly higher than the national average, with dozens of banks and credit unions offering rates of 4% or higher. The highest APYs available are above 5%. The best high-yield savings accounts currently pay APYs of just above 5%, but a savings account is a better choice if you might need the funds for emergencies or other expenses before the 12 months are up.