With fixed or upwardly adjustable interest rates, terms ranging from as short as one month to as long as 10 years, and FDIC insurance up to $250,000 per account, CDs are useful tools for saving funds you don’t need right away - and earning a yield in the meantime.Īlthough prevailing rates vary widely by bank, CDs tend to have higher yields (better rates) than other types of bank accounts, including checking, savings, or money market accounts.
No investment or savings vehicle is entirely without risk, but certificates of deposit (CDs) offer more security and predictability than most.
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