Both CDs and high-yield savings accounts can help savers earn interest on their cash, but these products work a little differently.
Similar to choosing a high-yield savings account, picking the right CD will largely depend on the APY it offers. But you should also carefully consider the term length of your CD. As a reminder, the longer the term, the more interest you'll earn but if you need access to the money be...
Two low-risk, interest-bearing saving options: a certificate of deposit (CD) and a high-yield savings account. But what exactly are they, how do they work, and, most importantly, how do you choose between them? Here's what you need to know about CDs vs. high-yield savings accounts ...
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...
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 ...
However, when you open a CD, you deposit a lump sum in the account that you agree not to touch for a fixed term. You withdraw the funds without penalty only once the CD reaches maturity. With a high-yield savings account, you can deposit money into the account and withdraw it when yo...
what you'd find with a high-yield savings account or money market account. However, in exchange for the relatively high rate, your money will be locked in the account until it reaches maturity. That means you won't be able to withdraw cash without incurring a penalty until the CD matures...
Varo Savings Account : Best for smaller balances EverBank Performance Savings : Best for pairing with a CD Openbank High Yield Savings Account : Best for high APY My Banking Direct High Yield Savings : Best for no monthly fee Bask Bank Interest Savings : Best for no minimum deposit First...
If you want certain returns, a CD is better as it offers a fixed interest rate over a specific period of time. You can even get a 3-year CD that pays the same rate for three years. A high-yield savings account's interest rate can go up or down, and there's no guarantee that th...
Openbank, High-Yield Savings Account – 4.75% APY* Required opening deposit:$500 Minimum balance requirement:Any amount Monthly fee:None ATM card available:No Mobile check deposit:No Checking accounts available:No CDs available:No Overview:Openbank is an online and mobile affiliate of Santander Ban...