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What are the advantages and disadvantages of a CD?

Some of the main advantages of CDs include the potential to earn higher interest rates and the option to use a laddering strategy. CD savers may be penalized for taking money out of their accounts before the maturity date. It's important to compare CD rates, terms, and penalties before opening one to fund your savings goals.

Why do people buy CDs?

Most people, especially in a high-interest rate environment, are attracted to CDs because of the potential for a high return. In most cases, average CD rates tend to climb well above those tied to traditional savings and money market accounts (MMAs).

Why should you invest in a CD account?

This lets investors tap into their money along the way while keeping some of it invested for a longer period. One of the biggest CD benefits is security. Like checking and savings accounts at federally insured banks, CD accounts are insured by the Federal Deposit Insurance Corporation, FDIC for short, up to the allowable limits.

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