The Federal Reserve maintained interest rates last month. CD rates are influenced by the Fed's decision. Since the Fed didn't cut rates, it's likely CD rates will hold steady in February.

CDs traditionally lack liquidity, which can be a huge drawback. If you're afraid of being stuck paying early withdrawal penalties in case of an emergency, no-penalty CDs can help you avoid that risk.

But, a certificate of deposit (CD) can help. That's because today's leading accounts come with higher returns than the current inflation rate. However, strong current returns aren't the only ...

Commissions do not affect our editors' opinions or evaluations. After climbing for the past couple of years, CD rates have been slowly declining in 2024. CD rates tend to track the federal funds rate.

CD laddering spreads your money across multiple CDs with different maturity dates, so you can earn high interest rates but have more frequent access to your cash. CDs are low risk and offer ...

You have high-interest debt to tackle first. Not having access to your cash is a big downside of CDs. Make sure you have six months' expenses saved in an emergency account. With annual percentage ...

Interest is compounded daily and credited to your account monthly. If you take money out of your CD during the agreed-upon term, before its maturity date, you’ll be charged a penalty for early ...

See how we rate banking products to write unbiased product reviews. Business Insider's personal finance team compared CDs to ...

Banks may offer promotional CD rates as their most competitive yields, but they aren't generally for the most common CD terms. Many, or all, of the products featured on this page are from our ...

CDs are a good savings option to park money for a few months or years with minimal risk of losing your earnings. If you need to access the money before it fully matures, you’ll often pay an ...

A no-penalty certificate of deposit is a type of CD that charges no fee for withdrawing money before the term expires. It offers more flexibility than other CDs. Strict editorial guidelines to ...

Natalia Gdovskaia / Getty Images If you're a fan of CD laddering, you've probably been enjoying the high annual percentage yields (APYs) of 2023 and 2024. However, with the Federal Reserve ...