Here's how much interest a $20,000 2-year CD account can earn savers now

A 2-year CD account can provide savers with a big return and extended protection on their money. Getty Images/iStockphoto June 2028 may feel like the distant future and, in a way, it is. After all, 24 months is a long time, and much can and will happen in the economy between June 2026 and then. But that may not be a bad thing for savers. Depending on the account type they open right now, in fact, it may be the defining feature and benefit. With a certificate of deposit (CD) account with a 2-year term, for example, savers will enjoy extended protection on their principal while growing their interest with a fixed rate of over 4%. So, for example, if you have $20,000 that you don't want to invest but still want to protect and grow, a CD account may be worth serious consideration. The interest earnings on an account of this size and length will be significant, helping to offset the costs savers are contending with elsewhere, thanks to elevated inflation and higher borrowing costs . This account type won't be free of sacrifice, however, as savers will need to leave their funds in the account frozen until the maturity date. Withdrawing even a portion of them prematurely will trigger an early withdrawal penalty , which could be significant on account of this size and length. To better determine the value of keeping your $20,000 in this account type, it helps to first know the interest-earning potential it represents. …