CDs are akin to time capsules for your money. You agree to lock up a certain amount of funds for a predetermined period, and in return, the financial institution offers you an interest rate typically higher than what you would earn in a regular savings account. The allure of CDs lies in the simplicity of their promise: keep your money untouched for the term's duration and earn a fixed interest rate that is usually higher than standard savings accounts. The search for the best rate CDs begins with an evaluation of your financial timeline. CDs come in various term lengths, from as short as a few months to as long as several years. The rule of thumb is that the longer the term, the higher the interest rate. However, it's not just about picking the longest term available.