One of the fastest ways to grow your money is to make sure it is doing the earning for you, and not the other way around. If you don't want to take higher risks with your investments, such as with stocks or bonds, a high-yield savings product is your next best bet. Certificates of deposit are a great way to invest your funds and know exactly how much you'll have at the end of its term length.

Today's featured pick is the 3-year CD account offered by Farmers Insurance Federal Credit Union. This account has an APY of 5.75%. With a required minimum opening deposit of $1,000, this CD is an excellent choice for those looking to grow their money securely. Read on to learn more about the top CD rates available today.

Here's a look at the top CD rates for today:

At this point, the economy being a rollercoaster is not news, so it's not a shock that the landscape of CD rates has evolved significantly over the past decade. Sometimes in order to understand where CD rates are going, it is good to know where they've been. Here are some key takeaways from the CD rate timeline:

CDs are a type of savings account with a fixed interest rate and a set maturity date. When you open a CD, you agree not to withdraw your money until the term ends, which can range from a few months to several years. If you do decide to take your money out early, you'll likely have to pay an early withdrawal penalty. Here are some other key points to know:

There are various types of CDs available to savers. Here's a look at a few:

If you are looking to tuck away a lump sum of money for a large purchase or future investment, a CD is a low-risk way to do just that. However, if you are looking to make more money faster, a CD may not be the right fit for you. If you're not sure which money move to make next, you should assess your risk tolerance and consult with a financial advisor to make the most informed decision.

Elizabeth Constantineau contributed to the reporting for this article.