Here's how much interest a $60,000 high-yield savings account will earn in one year
Thinking of transferring $60,000 into a high-yield savings account? Here's how much interest you could earn if you do.
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August 11, 2026 / 9:43 AM EDT / CBS News
Certificate of deposit (CD) accounts have high, fixed interest rates readily available for savers right now. But those big returns won't come without some sacrifice on behalf of account holders. In order to secure that rate, savers will need to be willing to lock their money into the account until the term has matured. Withdraw the funds prematurely and you'll get stuck paying an early withdrawal penalty, bringing you right back to where you started your savings journey. So while this account offers lucrative opportunities for savers right now, it won't be right for everyone and that's especially true for those with large, five-figure amounts like $60,000 at play.
For these savers, a high-yield savings account stands out as a viable alternative. Interest rates here are competitive with the top CDs but the account won't limit access the way its counterpart will. That means you'll be able to continue to make deposits and withdrawals as you've been accustomed to with your traditional account all while earning an exponentially higher rate (rates on traditional accounts sit under 0.50% currently). To better determine the value of this account with a $60,000 deposit, then, it helps to start with the interest-earning potential.
See how much interest you could be earning by opening a high-yield savings account now .
Here's how much interest a $60,000 high-yield savings account will earn in one year