Want to earn a higher interest rate on a certificate of deposit (CD)? A callable CD can help — sort of. A callable CD is a type of CD that typically provides a higher starting APY. However, the high rate is only guaranteed for a set period of time after you open the account — sometimes as little as three months. After the initial period ends, the CD issuer can "call" or close the account, even if the maturity date is still years in the future. Here’s what you should know about callable CDs and whether th ...