Key takeaways Short-term CDs typically are those that mature within one year, while long-term CDs have terms ranging from three to five years. Currently, some top-earning long-term CDs have slightly higher interest rates than short-term ones. You can use a CD ladder to take advantage of the benefits of both short-term and long-term CDs. Certificate of deposit (CD) terms typically range from three months to five years, and their guaranteed annual percentage yield (APY) can make them worthwhile in ...