How much interest can an 18-month CD earn now (and is it worth opening)?

Savers can effectively and securely grow their money with a top 18-month CD now. jonya/Getty Images

In today's cooling interest rate environment, profitable savings account options are becoming scarcer. The average rate on a traditional savings account is a minimal 0.40% now. High-yield savings accounts , meanwhile, have rates much higher than that, but considering that these rates are variable and responsive to market conditions, they may not be the best home for your money now that interest rates are routinely being cut again.

In today's climate, a certificate of deposit (CD) account may be your best option. Rates here are as high or higher than the top high-yield savings accounts, and CD rates are fixed, meaning that your interest-earning ability will remain strong