Best Interest Report:

A 5-year CD (certificate of deposit) is a time deposit, FDIC-insured to $100,000 per person ($250,000 on retirement accounts), with a fixed maturity date of five years. It usually pays higher interest than a savings account and a penalty is charged for withdrawing funds before the maturity date.

The highest rate on a 5-year CD nationally is 3.75 percent, with an annual percentage yield of 3.88 percent. Six months ago, the average yield was 2.78 percent.

The yield on a CD is higher than the rate because the yield takes compounding into account. Of the 13,189 institutions that Bankrate surveys nationally that sell 5-year CDs, 9,125 institutions offer, 2,291 institutions offer and 1,611 institutions offer. For consumers, more-frequent compounding produces a higher total yield.

Institutions also have different minimum deposit requirements. Bankrate's survey found the minimum for a 5-year CD ranged from $0.00 to $50,000.00.

Some institutions sell their CDs only in their local market; others sell CDs nationwide. Click here to see the 100 highest yields on a variety of CDs available nationally.

To see all of the results of Bankrate.com's surveys, go to www.bankrate.com.

The Your Best Interest report is a daily service of Bankrate.com, a financial news and information service based in North Palm Beach, Fla. Bankrate surveys more than 300 financial products from more than 4,800 institutions in all 50 states.