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A certificate of deposit — or CD — is a type of deposit or savings account that allows you to grow your savings at higher rates of return than a traditional savings account.
A CD is a time deposit account, so you’re making a commitment to keep your money in the CD for a set length of time. If you want to take money out of your CD before it matures, you’ll pay an ...
A CD is an interest-bearing deposit account that works much like a savings account. However, you cannot withdraw money from that account for a fixed amount of time.
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates. CDs typically require a minimum deposit, and may offer ...
Opening a CD often requires having money on hand to deposit into the new account. Although some banks require no minimum deposit to open a CD, others may have minimums of a few hundred or thousand ...
High-yield savings accounts offer flexibility and access, while certificates of deposit can offer higher interest rates. Compare HYSAs and CDs to find the best for your budget.
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