In exchange for this big commitment, a CD typically pays higher APYs. There's a penalty if you withdraw early, so they're best for long-term savings. It's good if you're afraid interest rates may go down, so you lock it in for a term. See our guide of the best CD rates.Basic...
The ability to quickly convert an investment into cash. A savings or money market account that you can withdraw money from at any given moment without a penalty always offers the best liquidity. Other investments that allow quick conversion to cash, such as a No Penalty CD, can also offer ...