August 2028. It sounds like a long time from now. Much can change by then and much will, but, for millions of savers, that's the whole point. With inflation still sticky, a looming for the fall – the first such increase in three years – and wider concerns over market instability and oil prices, savers find themselves looking for the safest and most effective ways to protect and grow their money right now. And if there's a large, five-figure amount such as $10,000 in play, it's even more important to make the right long-term decisions.

For many, a long-term certificate of deposit (CD) account could be the right, timely solution. With a 2-year CD, for example, savers will protect their money from today's market uncertainty and any still to come later in 2026 and 2027. Their reward for locking their money away for 24 months will be a high, fixed interest rate and a sizable, predictable and guaranteed return on their money that few investments or alternative savings accounts can credibly offer.

Still, two years is a considerable amount of time and the commitment here will need to be met in order to avoid paying an early withdrawal fee, which will be substantial on a CD of this size and length. To better decide the value it offers savers now, then, it helps to begin with the fundamentals. So, how much interest can a $10,000 2-year CD account earn if opened this August? Savers may be surprised to learn how much they'll eventually make.

Here's how much interest a $10,000 2-year CD account will earn if opened this August

While interest rates for a 2-year CD term will vary based on lender, they're not vastly different, either. Here's how much interest a $10,000 2-year CD account will earn savers now, calculated against four of the top available rates and the understanding that no penalties or maintenance fees are issued during the term:

• $10,000 2-year CD at 4.10%:
• $10,000 2-year CD at 4.15%:
• $10,000 2-year CD at 4.25%:
• $10,000 2-year CD at 4.30%:

Savers are positioned to earn between $830 and $880, approximately, with a $10,000 2-year CD account if they open it this August and, potentially, even more if they diligently shop around online for accounts. Shopping around online, however, is key as online banks often have better rates than their in-person counterparts, thanks to lower maintenance and overhead costs. Those savings are then reflected in higher rate offers to savers, though it will mean the loss of some features that only physical branch locations can provide.

The bottom line

More than $800 worth of interest is on the line for savers willing to commit $10,000 into a 2-year CD account this August. While this will require a loss of access to your money for longer than many would find ideal, it can be worth it not only for the return but for the extended protection on your principal, too. And with these CDs being FDIC-insured up to $250,000 per account, there's an additional layer of protection to account for here that can make these accounts worth serious exploration in today's unpredictable financial climate.