Advertisement
| Feature | High-Yield Savings | Certificate of Deposit |
|---|---|---|
| Interest Rate | 4-5% | 4.5-5.5% |
| Access | Anytime | Locked for term |
| Early Withdrawal | No penalty | 3-12 months interest penalty |
| Best For | Emergency fund | Money you will not need for 6-60 months |
Split $10,000 into 5 CDs: $2,000 each at 1, 2, 3, 4, and 5 year terms. As each matures, reinvest at 5-year rate. This gives you access to money annually while earning higher long-term rates.
Advertisement
Free financial education, market insights, and money-saving strategies delivered to your inbox.
Disclaimer: This website provides general educational information only and does not provide personalized investment advice or recommendations. Financial decisions should be made after considering individual circumstances and consulting a qualified professional where appropriate. Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing. Past performance does not guarantee future results.