Find the top long-term CD rates now. You may have penalty-free CD options to consider Many CDs come with an early withdrawal penalty that's charged for accessing your funds before maturity.

Ben Gran is a freelance contributor for Forbes Advisor on banking. He also writes for The Ascent (a Motley Fool service), where he covers insurance, credit cards, personal finance and investing.

When the CD matures, it automatically renews for the ... be a member of the American Consumer Council (free to join) or be a member of the Select Savers Club (the $5 membership fee is paid by ...