
How do certificates of deposit work? Understanding CDs — including 7 types for boosting your savings
A certificate of deposit — or CD — is a type of deposit account that allows you to grow your savings at higher rates than a traditional savings account. Offered by big-name and digital banks, credit unions and financial services companies, CDs let you lock in competitive rates of up to 5.00% APY or more on your deposit with guaranteed returns and virtually no risk. This makes them ideal for achieving financial goals like building an emergency fund, planning for retirement or saving for a major purchase.Here’s a closer look at how CDs work... Читать дальше...