CD account moves savers should make with inflation rising again

With inflation almost at the Federal Reserve's target goal and three interest rate cuts issued in the final four months of 2025, savers may have understandably started this year by assuming that their window of opportunity to open a certificate of deposit (CD) account had closed. Gone were the accounts with rates as high as 6% or 7% for select savers. And with additional rate cuts expected for later in 2026, the advantages of this specific savings vehicle were only expected to decline further.

But that's not what happened in the first half of the year. Inflation grew significantly in recent months against the backdrop of rising oil prices in response to the war with Iran. That delayed interest rate cuts further and then essentially eliminated them for 2026. And after inflation surged again in May, according to a Wednesday report, rate hikes are actually possible again. At a minimum, however, today's interest rates are likely to stay elevated for the foreseeable future. While that may not be a good thing for borrowers, it can be a boost for savers in today's inflationary climate, and it can be especially helpful for those who have yet to take advantage of a CD account.

Before getting started now, though, there are some specific CD account moves that savers should carefully consider with inflation rising again. Below, we'll break down three specific ones.

Start by seeing how much interest you could be earning with a high-rate CD account now.

CD account moves savers should make with inflation rising again

A CD account with a rate of 4% or more now can help you keep pace with inflation and potentially even outpace with select terms. Before getting started, however, savers should consider making these three timely moves now:

Don't accept the first high-rate offer you see

It may be tempting to lock in a CD with a rate of 3.90% as soon as you find it right now. But that would mean missing out on the 4.15% you can get with a different CD term and lender. That quarter percentage point difference could add up to a significant difference in interest earnings, depending on the deposit being made. 

So don't accept the first high-rate offer you see, and instead carefully shop around for rates and lenders first. Online marketplaces list rates, lender terms and fees all in one location, making this process easier than ever to complete.

Shop for CD accounts online here.

Weigh the benefits of a long-term CD now

The 4.15% rate noted above is tied to a top 18-month CD, while the 3.90% rate is associated with a 3-month CD. So the benefits of a long-term CD are clear now. But not only will you earn more with the longer account, but you'll also add another 15 months of protection for your funds thanks to the account's fixed interest rate. 

And that long-term protection in today's volatile economy is arguably just as important as the return you will receive. It's critical, then, to weigh the benefits of a long-term CD versus a short-term one to better determine not only which account type will be more lucrative but which one will offer the extended protection you need.

Keep your deposit amount moderate

Dismiss the temptation to deposit as much of your money into a CD account as you can now, even with rates high and the need for help with inflation growing. Instead, remember that banks will issue early withdrawal penalties against savers who take their money out of the account prematurely. 

That can be sizable depending on the initial deposit amount, and it could negate all of the interest earned on the account to that point. By keeping your deposit amount moderate, you'll be better able to see the account through to its maturity date and actually earn the return that you're counting on.

The bottom line

A consistently rising inflation rate can be strategically exploited by savers now, particularly with a CD account. It's important, however, for these savers to shop around for an account versus accepting the first high-rate offer they actually see listed online. By also weighing the benefits of a long-term CD against those associated with a short-term one and keeping their deposit amount moderate, savers can significantly improve their chances of success with a CD both now and over the full term.