Both CDs and high-yield savings accounts can help savers earn interest on their cash, but these products work a little differently.
If you're trying to decide between a high-yield savings account and a CD, think about your savings goal. CDs usually offer higher interest rates than high-yield savings accounts but require you to lock your money away for a set term, which can range from one month to 60 months. This m...
Higher interest rates than savings accounts. CDs typically earn more interest than a traditional (or even a high-yield) savings account. On June 17, 2024, for instance, the average rate for a 12-month CD was 1.86%, several times higher than the average savings account rate of 0.45%.1 An...
Also, the interest rate offered by high-yield savings accounts can change while your money is in the account but withCDs, the rate you lock in when you make a deposit stays the same throughout the entire term. This can be a good thing if you open an account before the rate drops. Yo...
In the current high-interest rate environment, both CDs and high-yield savings accounts can benefit you with higher yields. Deciding which option is best is a personal decision that should account for your financial needs and goals. If you don't need access to your funds, a CD may ...
Annual percentage yield: 3.75% Minimum deposit: $1 Checking account available: No Sign-up bonus: No Expiration of sign-up bonus: N/A Valley Direct account overview Based in Morristown, New Jersey, Valleydirect is an online bank specializing in high-yield savings accounts and CDs. Founded as ...
High-yield checking accounts are an alternative to CDsDAN SERRA
Western Alliance Bank currently offers highly competitive interest bearing savings products for those looking to grow their money - whether it be a savings account or CD account. In addition, business owners of any size can benefit from their business so
Affirm offers a solid high-yield savings account and access to credit solutions without using your credit card. You can invest your money without having to enter into any credit agreements. Cons: The firm doesn’t have any branches or physical locations. Who is the account best suited for?
HOW TO CHOOSE A HIGH-YIELD SAVINGS ACCOUNT 3. Easy and liquid access Because high-yield savings accounts often offer lower rates thancertificates of deposit(CDs), you may wonder if a CD is a better place to stash your cash. However, these accounts typically require you to lock your funds ...