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If you choose a savings account over a no-penalty CD, you may face these drawbacks: Variable interest rates. Unlike the fixed-term rates offered by no-penalty CDs, savings account rates can fluctuate.
Choose your CD term. Select a timeline matching your financial goals. A 3-month CD works well for short-term savings like a down payment, while a 2-year CD maximizes your rate for longer-term growth.
A variable-rate CD — also called a flex CD — is a type of certificate of deposit with an interest rate that can fluctuate periodically over the term of the CD based on market conditions.
CD rates strongly correlate with the key interest rate set by the Federal Reserve, the U.S.'s central bank. This Fed rate is the benchmark that affects rates on deposit accounts, loans, mortgages ...
CD rates strongly track with the key interest rate set by the Federal Reserve, the U.S.'s central bank. This Fed rate is the benchmark that affects rates on deposit accounts, loans, mortgages ...
A CD ladder is a savings strategy designed to spread out your money across multiple CDs to leverage high rates without tying up your full investment into one long-term CD.
A Bump-Up CD is a type of certificate of deposit that allows you to increase your interest rate once during the term if rates rise, offering more flexibility and potentially higher returns ...
CD rates strongly correlate with the key interest rate set by the Federal Reserve, the U.S.'s central bank. This Fed rate is the benchmark that affects rates on deposit accounts, loans, mortgages ...