You can help ensure you’re maximizing your rate by taking the following actions: Conduct a national search for best CD rates. With a national search, you’ll be sure you’re getting the best rate at that period in time. This is probably the single best step you can take to ensure that you’re earning all you can. Rates do change over time, so it’s important to check for the top rate whenever you’re looking to invest in a CD. Putting money in an add-on CD may not be the best option, even if you can do so because a new CD may offer a higher rate. Being able to lock up your funds for a guaranteed period of time will likely earn you a higher rate. A penalty typically applies to early withdrawals, so avoid locking away money in a CD if there's a possibility the funds will be needed before the term expires. If you know you’ll need the money at a certain time, calculate the best rate until that period of time. It may make more sense to go with a no-penalty CD. Don’t be fooled by banks that compound more frequently but offer a lower APY. Instead, focus on the APY, because that’s your return.  Using these steps, you’ll have greater certainty that you’re maxing out what you can earn.