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Using a CD laddering strategy, you can increase your returns by up to over months compared to opening one large CD.
How it works:
Your first CD will expire after months. At that time, you may decide to deposit the original CD amount plus the accrued interest in a CD with a longer term. Using a CD laddering approach will allow you to earn more than rolling over one CD. It's a good idea to watch rates before you let your CD roll over because a better rate may be available.