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How much will a $15,000 long-term CD make?
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2023 has been a difficult year for borrowers, millions of whom have had to contend with higher interest rates due to inflation and the elevated rates meant to combat it. It’s been a much better year, however, for savers. Thanks to those same high rates, savers can earn exponentially more on their money than they would have just a few years ago. This has been particularly true for those who have opened certificates of deposit (CD) and high-yield savings accounts. Even high-yield checking accounts have attractive returns for users right now.
That said, before getting started, it helps to know exactly how much you can expect to earn with one of these accounts. While high-yield savings accounts have variable rates, CDs are much easier to budget for as their rates are locked for the CD’s full term. For many savers, it may make sense to lock in a long-term CD rate right now. They may not be quite as high as the best short-term ones, but they’re very competitive and they’ll last for years, during which time many forecast rates to drop. Below, we’ll break down precisely how much you could make by depositing $15,000 into a long-term CD now.
Start by exploring your CD options here to see how much more you could be earning on your money.
How much will a $15,000 long-term CD make?
Long-term CDs are considered to be accounts with terms longer than 12 months. Options include 2-year, 3-year and 5-year CD accounts. Rates will vary based on the lender and other factors (you’re more likely to get a higher rate with an online bank, for example). But they’ll all generally be in the same rate range. And the longer you keep your money in the account, the more you’ll make.
That all being said, here’s what you can expect to make if you open a long-term CD with a $15,000 deposit now:
2-year CDs:
- At 5.30%: $1,632.13 in earnings for a CD total of $16,632.13
- At 5.00%: $1,537.50 in earnings for a CD total of $16,537.50
3-year CDs:
- At 5.50%: $2,613.62 in earnings for a CD total of $17,613.62
- At 5.25%: $2,488.70 in earnings for a CD total of $17,488.70
5-year CDs:
- At 5.25%: $4,373.22 in earnings for a CD total of $19,373.22
- At 5.00%: $4,144.22 in earnings for a CD total of $19,144.22
Get started with a high-earning, long-term CD here today!
Other CD considerations
While a CD can be beneficial for many, there are multiple considerations to take into account. For starters, the interest rate environment could change in 2024. So if you want to take advantage of today’s high rates, you may want to act now before the window of opportunity closes. If inflation continues to cool, interest rates could freeze or even come down a bit in the new year, thus resulting in smaller returns on these account types.
Savers should also know that they’ll have to pay early withdrawal penalties if they take their money out of the account before the term ends. The exact penalty will depend on the lender in question, but it can add up to a significant portion (or all) of the interest you’ve earned on the account to the point of withdrawal. So don’t deposit more than you’re comfortable with leaving untouched.
Finally, in a reverse from historical trends, rates on short-term CDs are generally (but not always) better than those on long-term ones right now. Accordingly, if you want to earn a higher rate of return but don’t want to keep your money locked away for years to come, you should instead explore your short-term CD options.
The bottom line
Now is a great time to open a CD, whether it be a long-term or short-term one. For those willing to keep their money in the account for multiple years, the reward could be thousands of dollars in interest on a $15,000 deposit. But these rates won’t last forever, so it behooves savers comfortable with long-term CD restrictions to act now while these elevated rates are still available. By doing so, they’ll essentially be giving themselves thousands of dollars to use in the years to come.
Get started with a CD here now.
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How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
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The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
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How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
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The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.