Certificates of deposit (CDs) are ideal choices for savers who want low-risk option to boost their savings. However, there are ways to increase your savings even more.
Many banks will offer a higher CD rate if you deposit a larger amount of funds. Also, some banks offer bump-up CDs, which allow you to raise in your interest rate without incurring an early withdrawal penalty. Finally, you can set up a CD ladder to maximize interest earnings on a regular basis.