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A CD locks in your money for a set period of time in exchange for a guaranteed APY. Understanding all the features of a CD can help you decide whether one is right for you:
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 CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
A bump-up CD — also called a “raise your rate” CD — builds in the ability for you to request a one-time rate increase if CD rates go up during your lock-in term. Longer term CD accounts ...
A no-penalty CD — also called a liquid CD — is like a traditional CD through which you lock in a deposit for a guaranteed rate of return over a stated period of time, but with the flexibility ...
A CD is a deposit account that works by holding on to your money for a fixed amount of time while paying out interest. CD terms can range from one month to five years or longer, during which you ...
You deposit a lump sum of money for a set CD term length, like 11 months or a year. Your money earns interest at a rate that’s typically higher than high-yield savings accounts but slightly ...
CDs commonly pay more interest than savings accounts, but that's not all. Read on for a less-obvious perk of opening a CD. The Surprising Benefit of Putting Money Into a CD
A no-penalty CD — also called a liquid CD — is like a traditional CD through which you lock in a deposit for a guaranteed rate of return over a stated period of time, but with the flexibility ...