Earn More with a CD Ladder Savers are finally getting some good news : Interest rates on savings and money market accounts are climbing. For example, the rate on American Express’s high-yield savings account jumped from 0.6% to 1.0% in a span of two months. SEE MORE Fight Inflation with Series I Bonds Certificates of deposit haven’t been left out of the rising-rate tide, and they’re moving up faster than the rates for some online savings accounts. CD Ladders Offer Flexibility With a CD, you agree to keep your money in an account for a certain period in exchange for a guaranteed interest rate. Terms range from three months to five years or more. The longer the term, the higher the rate. But you may not want to lock your money up for years. One way to stay flexible is with a CD ladder: Spread your cash among CDs of varying maturities—say, one, two, three, four and five years. Some of your savings will capture the higher rates that long-term CDs offer. Each time a CD matures, you reinvest the cash. If rates continue to rise, you’ll reinvest the money at a higher yield.