How much interest would a $5,000 CD earn in 3 years?

With inflation cooling, today’s high interest rate environment may start to cool, too. And, while that may be good news for borrowers, it could mean that savers earn smaller returns on the money they set aside. But, it doesn’t have to, at least not for years to come. 

If you have $5,000 to save for the future and you don’t want the returns on your money to be subject to potential near-term rate cuts then consider investing it into a 3-year certificate of deposit (CD). 

3-year CDs make it possible to lock in today’s returns for the next three years. Even if rates were to fall in the near term, your CD return rate will stay fixed. Of course, you’ll have to agree to keep your money in the account for its entire term to lock today’s high rates in, but that may be a good thing too. After all, early withdrawal penalties may be the driver that leads to you meeting your savings goals.

Before acting, it helps to know how much money you’d make if you invested $5,000 into a 3-year CD. We did the math below. 

Compare some of the top-paying CDs on the market now. 

How much interest would a $5,000 CD earn in 3 years?

Some of the best 3-year CDs on the market currently pay APYs ranging from 4.40% to just over 4.60%. Here’s what that would add up to after your CD matures: 

• $5,000 at 4.40%: If you open a 3-year CD at 4.40% with a $5,000 deposit, you can expect to earn $689.47 in interest. That would bring your total account balance to $5,689.47 upon maturity. 
• $5,000 at 4.60%: If you open a 3-year CD at 4.60% with a $5,000 deposit, you can expect to earn $722.23 in interest. That would bring your total account balance to $5,722.23 upon maturity.

But, you don’t have to deposit $5,000 into a 3-year CD to open one. There are plenty to choose from with low or no minimum deposit requirements. And, the insurance on these accounts typically covers you up to $250,000. So, you could theoretically enjoy all the benefits of CDs with deposits ranging from a few dollars to a quarter million dollars. 

Don’t let these earnings slip by. Open your 3-year CD today. 

How much would other deposits earn in a 3-year CD right now?

Since you can make a wide range of deposit amounts into a 3-year CD, you may be wondering how much you could make with larger and smaller deposits. Here are a few to consider: 

• $1,000 deposit: You would earn $137.89 in interest at 4.40% or $144.45 in interest at 4.60% after three years.
• $2,500 deposit: You would earn $344.73 in interest at 4.40% or $361.11 in interest at 4.60% after three years.
• $10,000 deposit: You would earn $1,378.93 in interest at 4.40% or $1,444.45 in interest at 4.60% after three years.
• $15,000 deposit: You would earn $2,068.40 in interest at 4.40% or $2,166.68 in interest at 4.60% after three years.
• $20,000 deposit: You would earn $2,757.86 in interest at 4.40% or $2,888.91 in interest at 4.60% after three years.
• $50,000 deposit: You would earn $6,894.66 in interest at 4.40% or $7,222.27 in interest at 4.60% after three years.
• $100,000 deposit: You would earn $13,789.32 in interest at 4.40% or $14,444.53 in interest at 4.60% after three years.

Get more out of your money with a 3-year CD now. 

The bottom line

You could earn between $689.47 and $722.23 by depositing $5,000 into a 3-year CD. But, depositing $5,000 isn’t the only way to earn a reasonable return with a 3-year CD. Whether you have less or more to deposit, you can lock in today’s strong APYs for years to come. Compare leading 3-year CDs now.