Timing is everything, and in the world of investments finding the highest CD rates is a matter of timing. Although high CD rates seem to have been a thing of the past, you can take advantage of the CD rate offers available now.

Making the most of CD rates

National CD rate averages vary. Although rates are low, they are higher than interest-bearing checking or savings accounts and yields on U.S. Treasuries. Several institutions offer CD rates higher than the national averages.

You can look for the highest CD rates in your area on Bankrate.com. When searching for a bank, check Bankrate’s Safe and Sound Star Ratings to verify a bank’s financial stability.

Advantages of short maturities

CDs with short maturities of three months, six months or one year allow you to take advantage of rates that might increase right when you’re ready to reinvest your money. If your portfolio is full of CDs with long-term maturities and you don’t have more cash to invest, you won’t be able to take advantage of higher interest rates that might pop up in the market.

Benefits of CDs with long maturities

Longer term three-year, five-year and 10-year CDs offer higher interest rates for allowing the bank to hold and use your money longer. This gives you the benefit of gaining more from your investment. Ideally, your portfolio should include a combination of short- and long-term CDs so you can employ CD laddering strategies and get the most bang for your buck.