Interest rates are high today. That high rate means it can be for earn strong returns on your deposit account. Popular choices among them are a certificate of deposit (CD). With a CD, you must leave money in the account for the entire period. In exchange, financial institutions agree pay you a useful interest rate – which is usually higher than you might expect savings account.
However, what if you want to make $2,500 by invest in CDs? How do you do it? There are several options to choose from, with various deposits and requirements to choose from.
Compare some of the highest paying CDs on the market today.
How to make $2,500 with CDs today
If you plan to make $2,500 with CDs, you’re probably best served by using them online banking. Today’s flagship CDs offer rates ranging from 4% to more than 5%. So, the first thing you need to do is if you want to earn $2,500 CD compare your options and choose one with a high yield. Here are some ways you can earn $2,500 in interest on your principal CD:
Invest $10,200 into a 5-year CD
One of the best 5-year CDs currently offered by First Internet Bank of Indiana. This account pays 4.50% APY. And, you can earn $2,500 in interest by putting down $10,200. In fact, if you do, you’ll earn $2,511.06 in interest over the 5-year term. This will bring your total account value to $12,711.06 when the account matures.
You can find more leading 5 year CD at SchoolsFirst Federal Credit Union and Quontic Bank. These accounts pay 4.35% and 4.30% APY. Here’s what you could earn on $10,200 over five years at these rates:
- SchoolsFirst Federal Credit Union: You will earn $2,420.09 in interest for a total balance of $12,620.09 after five years.
- Quantic Bank: You will earn $2,398.88 in interest for a total balance of $12,589.88 after five years.
Invest in CDs to get $2,500 back today.
Invest $17,500 into a 3-year CD
You can find 4.61% 3 year CD The current exchange rate of First Internet Bank of Indiana. And, at that rate, you can earn $2,500 by depositing $17,500 into the account. If you do, you’ll earn $2,533.54 in interest over three years for a total balance of $20,033.54 when the account matures.
Some other interesting options include Popular Direct and Quontic Bank, which pay 4.50% and 4.40%, respectively, on 3-year CDs. Here’s what you can get by depositing $17,500 into the account:
- Instantly popular: You will earn $2,470.41 in interest after three years for a total balance of $19,970.41 when the account matures.
- Quantic Bank: You will earn $2,413.13 in interest after three years for a total balance of $19,913.13 when the account matures.
Invest $47,000 into a 1-year CD
You can also earn $2,500 in a CD in one year if you deposit $47,000 with CIBC Bank USA. A 1-year CD currently pays 5.36% APY. At that rate, you’ll earn $2,519.20 in interest over a year on your deposit, for a total balance of $49,519.20 at maturity.
Some other strong one-year CD deals came from Bask Bank and First Internet Bank of Indiana. These accounts currently offer 5.30% and 5.26% APY, respectively. Here’s what you can get with each of these accounts by depositing $47,000:
- Bhakti Bank: You will earn $2,491.00 in interest after one year for a total balance of $49,491.00 when the account matures.
- First Internet Bank of Indiana: You will earn $2,472.20 in interest after one year for a total balance of $49,472.20 when the account matures.
Invest $95,000 into a 6-month CD
You can earn $2,500 in a CD 6 months if you deposit $95,000 with Bask Bank at 5.35%. At that rate, you’ll earn $2,508.14 in interest for a total balance at maturity of $97,508.14.
America First Credit Union also offers attractive rates today. If you deposit $95,000 into a 6-month CD with America First Credit Union at 5.25%, you’ll get $2,461.85, for a total account balance at maturity of $97,461.85.
Take advantage of these powerful rates while they’re still here.
Bottom line
There are many ways to get $2,500 in CDs in today’s high-interest environment. You can put $10,200 into a 5-year CD, $17,500 into a 3-year CD, $47,000 into a 1-year CD or $95,000 into a 6-month CD. But that’s not the only way to get it hundreds or even thousands dollars in CDs now. Start crunching the numbers and lock in the high CD rate here now.