Have you seen that interest rates are rising on some certificates of deposit, only to worry that you’ll miss out on further increases? You may want to consider putting your cash in several C.D.s with different terms — what’s known as building a C.D. ladder.

“It’s time to take C.D. ladders out of the attic,” said Chris Horymski, senior research analyst at the financial site MagnifyMoney.

C.D. ladders are a way to hedge your bet on interest rates. Longer-term C.D.s typically pay higher interest than short-term certificates. So, for example, if you had $50,000, you could buy five $10,000 C.D.s, with terms of one, two, three, four and five years. When the one-year certificate matures, you could reinvest that cash in another five-year C.D. — hopefully, at a higher rate — or use the money for something else. Meanwhile, the other certificates would be earning higher, longer-term rates.

Why would someone want to do this?

Rates on C.D.s as well as on basic savings accounts were so low for years after the economic downturn that it often wasn’t worth moving cash around. As the Federal Reserve has gradually raised its benchmark rate over the past few years, however, yields on savings have been inching up.