Both CDs and high-yield savings accounts can help savers earn interest on their cash, but these products work a little differently.
For example, if you're saving for a home down payment with a two-year horizon, you could earn a fixed rate with a 24-month CD, which could potentially perform better than a variable rate high-yield savings account. Like high-yield savings accounts, the funds in your CD are prote...
Below, CNBC Select breaks down what you need to know if choosing between high-yield savings accounts, CDs and treasury bills. What is a high-yield savings account and how does it work? High-yield savings accounts let you earn a higher interest rate on your balance compared to what you'd...
return as you save for your retirement. Unlike IRA CDs, IRA savings accounts usually don’t require a minimum opening deposit. Also, there aren’t early withdrawal penalties from the bank where you hold the account. Finally, the annual percentage yield isn’t fixed like it is for an IRA ...
Western Alliance Bank High-Yield Savings Premier One the the most prominent accounts is their high yield savings account. Offering a highly competitive APY with no account activity or maintenance fees on the account. Learn More at Western Alliance Bank In addition, there are no withdrawal limits ...
High Yield Savings Account - 4.35% APY $1 minimum deposit No fees 24/7 online access to funds FDIC insured Find Out More Read Review High-Yield Savings Account - 4.33% APY $1 minimum deposit No fees 24/7 online access to funds FDIC insured Find Out More Read Review High-Yield...
The bank agrees to pay you more interest than you’d get from a savings account in exchange for that agreement. You'll receive a higher annual percentage yield (APY) on the funds you deposit because the bank knows that it can use your money for longer-term investments like loans and you...
A CD is a timed deposit account that earns a fixed rate of return during a defined period of time, or term. In exchange for a guaranteed yield, you agree to keep your money in the account, untouched, until the CD’s term expires. During that period, the money in the CD accrues int...
However, some exceptions exist. Ahigh-yield savings account (HYSA)usually offers significantly higher interest rates. These are typically offered by online-only banks, with rates that may beat even money market accounts. There are no federal restrictions on how many accounts or banks you use to ...
Find out which savings vehicle is a better investment for your needs and financial situation—a money market account (MMA) or a certificate of deposit (CD).