Certificates of deposit (CDs) are known for their steady earnings and low risk. Despite dropping rates, some CDs offer over 4% APY. For example, America First Credit Union is offering rates around or above 4%. Choosing the right CD can earn you three times more interest compared to an average account.

CD rates vary by term, with 12-month CDs currently offering the highest return. Longer terms traditionally offer higher rates, but economic factors can change this trend. While CDs are a safe option, consider high-yield savings accounts or money market accounts for more flexibility.

For those willing to take on more risk, bonds offer fixed payments over time. While not federally insured like CDs, bonds are low-risk investments with more flexibility. High-yield savings accounts and money market accounts also provide competitive interest rates, with some offering up to 4% APY.

If you have $10,000 to set aside, a CD can provide predictable earnings over a fixed term. Be cautious of early withdrawal penalties. For more flexibility, consider a savings or money market account. Longer-term investments like bonds, stocks, mutual funds, or ETFs may be suitable for those willing to take on more risk.

Read more at Yahoo Finance: Here’s how much you’d earn by putting $10,000 in a CD for 5 years