CD rates reflect the interest you can earn from a Certificate of Deposit (CD), a type of federally insured savings account with a fixed interest rate and term length. Unlike regular savings accounts, CDs typically offer higher interest rates in exchange for the commitment to leave your deposit untouched for a predetermined period. Early withdrawals may result in penalties, making CDs a great option for those who can afford to set aside funds for medium to long-term goals without needing immediate access. Here are the top companies offering competitive CD rates to maximize your savings growth.