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   How does a CD account work?

   • When you open a certificate of deposit (CD), you agree to leave your money in the account for a set period of time. This can range from a few months to a number of years.

   How Does a CD Account Work? - Investopedia

   www.investopedia.com/how-does-a-cd-account-work-5235792

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   What is a CD & how does it work?

   • A CD is a type of account offered by banks and credit unions that pays interest on your money for a set period of time. These accounts pay a guaranteed rate of return. CDs sometimes offer a better annual percentage yield (APY) than traditional savings accounts, although the gap isn’t as wide as it once was.

   What is a CD (certificate of deposit)? - Bankrate

   www.bankrate.com/banking/cds/what-is-a-cd/

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   What makes a CD a good bank account?

   • CDs, called share certificates at credit unions, tend to have the highest rates among federally insured bank accounts. CD returns, assuming no early withdrawals, are also guaranteed. Here’s a breakdown of various factors that make up CDs. Skip down to any section: CD rates | CD terms | CD safety | CD deposit

   How Do CDs Work? Learn How to Save Smarter - NerdWallet

   www.nerdwallet.com/article/banking/how-do-cds-work

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   What is a certificate of deposit (CD)?

   • A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate on money held for an agreed-upon period of time. CD rates are usually higher than savings accounts, but you lose withdrawal flexibility. If you withdraw your CD funds early, you'll be charged a penalty.

   What Is a Certificate of Deposit (CD)? Pros and Cons - Investopedia

   www.investopedia.com/terms/c/certificateofdeposit.asp

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   How does CD interest work?

   • CD interest works like it does in regular savings accounts. Interest gets compounded over time, meaning that the bank pays you interest on the initial deposit and the accrued interest that the CD earns. Compounding takes place in regular intervals, such as daily or monthly.

   How Do CDs Work? Learn How to Save Smarter - NerdWallet

   www.nerdwallet.com/article/banking/how-do-cds-work

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   How does a CD differ from a savings account?

   • CDs differ from other savings accounts because you have to keep money locked in for a period of time. You'll only be able to make a deposit when you first open a CD. You also won't be able to make any penalty-free withdrawals until your term ends. In comparison, savings and money market accounts let you deposit or withdraw money at any time.

   How CDs Work: Understanding Certificates of Deposit - Business Insider

   www.businessinsider.com/personal-finance/banking/how-do-cds-work

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2. www.investopedia.com › terms › cWhat Is a Certificate of Deposit (CD)? Pros and Cons

   www.investopedia.com › terms › c

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   Oct 1, 2024 · A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate on money held for an agreed-upon period of time. CD rates are usually higher...

   • Author: Jason Fernando

   • Video Duration: 2 min

3. www.wealthsimple.com › en-ca › learnCertificate of Deposit Explained - Wealthsimple

   www.wealthsimple.com › en-ca › learn

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   Aug 28, 2019 · A certificate of deposit or CD is a high-yield savings account that you can open with many financial institutions—from banks to credit unions. In exchange for a relatively higher, fixed rate of interest, you must keep your money “locked” into this savings account for a specified period of time.

4. Videos

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     What You Need To Know About CDs (Certificates of Deposit)

     Mar 23, 2021

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     CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet

     Dec 6, 2022

     60.1K Views

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     Highest Bank CD Rates and Certificate of Deposit explained

     Apr 7, 2019

     247.8K Views

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5. www.investopedia.com › how-does-a-cd-account-workHow Does a CD Account Work? - Investopedia

   www.investopedia.com › how-does-a-cd-account-work

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   Aug 30, 2024 · A jumbo certificate of deposit (CD) is a type of savings account with higher balance requirements than a traditional CD. It generally pays a higher interest rate. more

6. www.businessinsider.com › banking › how-do-cds-workHow CDs Work: Understanding Certificates of Deposit

   www.businessinsider.com › banking › how-do-cds-work

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   Jul 23, 2024 · Discover how CDs work, including their interest rates, types, early withdrawal penalties, and terms lengths. We also explain how to open and manage a CD.

   • Author: Sophia Acevedo

   • Founder: Henry Blodget

7. www.investopedia.com › certificate-of-deposits-4689733Certificates of Deposit (CDs) - Investopedia

   www.investopedia.com › certificate-of-deposits-4689733

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   2 days ago · Learn about certificate of deposit (CD) types, how they work, and how they can fit into your savings goals. Browse Investopedia’s expert-written library for more.

8. www.nerdwallet.com › article › bankingHow Do CDs Work? Learn How to Save Smarter - NerdWallet

   www.nerdwallet.com › article › banking

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   Sep 5, 2024 · How CDs work. A certificate of deposit is a type of savings account with a fixed interest rate and term. CDs, called share certificates at credit unions, tend to have the highest rates...

9. www.bankrate.com › banking › cdsWhat is a CD (certificate of deposit)? - Bankrate

   www.bankrate.com › banking › cds

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   Sep 30, 2024 · A CD is a type of account offered by banks and credit unions that pays interest on your money for a set period of time. These accounts pay a guaranteed rate of return. CDs sometimes offer a...