3 CD accounts to open before the October Fed rate cut

Savers can still earn a sizable return on their money by opening select CD accounts now, before the Fed's next rate cut. Flavio Coelho/Getty Images

Just under 99%. That's the likelihood that the Federal Reserve will reduce interest rates again when it concludes its next meeting on October 29, according to the CME Group's FedWatch tool.

While that's good news for a wide swath of borrowers stuck with higher rates, it will be further detrimental for savers, many of whom earned big returns on their money in recent years. This is especially true for certificate of deposit (CD) account holders, some of whom were able to lock in rates as high as 6% or 7% . Now, however, these same savers find themselves being offered top rates of around 4.50% .

Still, with the right rate