If you have a large, five-figure amount of money, such as $90,000, in your savings account now, investing it in stocks, bonds, real estate or a mix of all three may seem like the best approach. After all, stock market returns in recent years have been as high as 16%. Even the best interest rate on a certificate of deposit (CD) account, for example, tops out around 4% now, making stocks exponentially more profitable. 

That said, stock market swings can be substantial and, depending on the economy, your gains can be wiped out overnight. That's not a concern with a CD account, which has a fixed interest rate that will allow you to earn a big return no matter how the market evolves during the account's term. While the interest-earning potential of a $90,000 investment can be significant, it won't be guaranteed the way the CD account will. 

It makes sense, then, to calculate the interest-earning potential the CD offers before making a final decision on your next steps. Below, we'll crunch the returns that savers need to know now.

See how much interest you could be earning with a CD account now.

Here's how much interest a $90,000 CD account can earn savers now

In today's uncertain economic climate, storing $90,000 in a CD account may make more sense for savers than it would have in the past. Here's how much interest savers stand to earn with a deposit of this size with six different terms, calculated against the top rates each account comes with and the assumption that no early withdrawal penalties are issued against the accounts:

• $90,000 3-month CD at 3.90%: $864.95 upon maturity
• $90,000 6-month CD at 4.10%: $1,826.47 upon maturity
• $90,000 9-month CD at 4.00%: $2,686.71 upon maturity
• $90,000 1-year CD at 4.11%: $3,699.00 upon maturity
• $90,000 18-month CD at 4.15%: $5,660.23 upon maturity
• $90,000 2-year CD at 4.16%: $7,643.75 upon maturity

While depositing $90,000 in a CD may feel unconventional, a quick review of the interest-earning ability of an account of this size can easily dispel that interpretation. Savers will earn close to $900 in just three months with a CD of this size, approximately, and more than $7,600 if they keep the account fully funded for the next 24 months. 

So don't dismiss a CD account without first calculating the interest-earning potential it now represents. With the right term and rate, you can still earn a substantial return while protecting your principal in today's uncertain economic terrain.

Protect your money with a high-rate CD account here.

Other places to keep your $90,000 now

If you don't want to have to lock your funds away to earn an interest rate of approximately 4% now, you don't have to. Here are two alternative accounts with similar rates, minus the accessibility restrictions that CD accounts mandate:

• A high-yield savings account: Rates on this account type are almost identical to the top CDs, but you'll still be able to make deposits or withdrawals as needed without having to pay any fees. The rates here, however, are variable and likely to change based on market conditions, though that doesn't seem likely now that interest rates are expected to stay higher for longer.
• A money market account: This account also comes with competitive interest rates now, though rates here, too, are also variable. That said, money market accounts also have check-writing features that CDs and high-yield savings accounts do not, so this could be the account to open if you want to earn a competitive return while streamlining your banking needs with a single account.

The bottom line

A $90,000 CD account can easily earn savers hundreds and potentially thousands of dollars worth of interest now — if they keep the account frozen. But they don't have to deal with the restrictions the account employs and can still earn a similar rate (albeit a variable one) with a high-yield savings or money market account instead. It's worth carefully examining all three savings vehicles, then, to better decide which makes the most sense for your $90,000 both right now and over the upcoming months and years.