Is it worth renewing a $10,000 CD account if it matures this September?

In September 2024, opening a $10,000 certificate of deposit (CD) account was a relatively easy decision to make. 

Interest rates on these accounts were still comfortably in the 5% range. And with rate cuts on the horizon for the final months of the year, it made sense for savers to protect their funds with a fixed-rate account.

But what about in September 2025? Multiple rate cuts have since been issued, and there’s likely another one coming later this month when the Federal Reserve meets again. Against this backdrop, if you have a $10,000 CD account approaching its maturity date, you may understandably be wondering about the merits of renewing it. Is that the right approach now? Surprisingly, it may still be one of your better options. Below, we’ll detail three reasons why.

Start by seeing how high today’s current CD rate offers here to learn more.

Is it worth renewing a $10,000 CD account if it matures this September?

If you have a CD account set to mature in the next few weeks, particularly if it’s in the amount of $10,000 or higher, it can still make sense to renew it. Here’s why:

You can still earn hundreds (or thousands) of dollars

Sure, CD rates aren’t as high as they once were. But they’re still far above the 1% range they hovered at near the start of the decade. You can still easily find CD rates around 4.50% right now, especially if you elect to use an online bank. And, depending on the term length, you can still earn hundreds or even thousands of dollars in interest with a $10,000 deposit. 

A 3-year CD with a rate of 4.10%, for example, will earn $1,230 if opened now, while a much shorter 1-year CD with a rate of 4.30% would result in $430 earned. That’s a lot of money that can be earned simply by renewing an account you already have.

Get started with a high-rate CD account now.

It will protect your money for an extended period

Traditional savings account interest rates are variable. High-yield savings account rates are variable. CD interest rates are fixed. Which of the three do you think is the best for your $10,000, then, especially considering current economic conditions? Not only are today’s CD rates still competitive, but they won’t be subject to the volatility of the rate climate the way your alternative account options will be. That protection is critical for any deposit amount, but particularly for $10,000 and especially so right now.

It may be your final chance to lock in a high rate now

There’s near certainty that interest rates will be reduced on September 17. The only outstanding question that remains is by how much. Regardless of how deep the Fed’s cut is this month, however, other rate cuts remain in play, potentially even in their final 2025 meetings in October and December. Those reductions will undoubtedly reduce CD rates, even if not by the same margin. 

Understanding this growing reality, then, savers with $10,000 to protect may be well served with a CD that they lock in at a high rate now. By the time they hit their next maturity date on the calendar, the rate climate could look considerably different.

The bottom line

If savers can continue to keep the money in a CD account untouched with relative ease, then yes, a $10,000 CD account set to mature this month is still worth renewing. With hundreds and potentially thousands of dollars of interest in play, the reality that the account will have a locked rate and, thus, protection against rate climate changes, and the presumption that this could be the final time to lock in a high rate in this economic cycle, there are multiple strong reasons to act. Just be sure to notify your lender of your plans to avoid having the account automatically rollover into a new account with a presumably lower interest rate.