How much interest can a 1-year CD earn if opened this June?

Savers can effectively grow their money with a 1-year CD without sacrificing long-term access to their funds. Getty Images/iStockphoto While extended protection for your money is ideal, sometimes it's not realistic. Nor is it even needed. Sometimes, you just need to earn a little extra on your money while protecting your principal. While a certificate of deposit (CD) account has terms lasting 18 months or longer, for example, you may only need an account that matures in 12 months. With an account of this length, you'll regain access to your funds relatively quickly, but you'll also protect your money from today's market uncertainty for a full year – and you'll earn an elevated return in the interim. To better understand the value a 1-year CD account offers savers now, it helps to start with the interest-earning potential. This is simple to calculate thanks to the account's fixed interest rate that will hold through the maturity date as long as the saver keeps the funds untouched. So, how much interest can a 1-year CD account actually earn if opened this June? Below, we'll crunch the numbers that savers should know before making their deposit. See how much interest you could be earning on your money with a CD account here . How much interest can a 1-year CD earn if opened this June? Interest rates on CDs vary by lender and term, so savers who want to secure the most competitive rate will need to spend some time shopping around online first. …