Certificates of deposit (CDs) are savings accounts where you deposit money for a fixed period—anywhere from a few months to several years—in exchange for a set interest rate. Banks and credit unions offer them as a way to earn more on your savings than a regular account, but your money stays locked in until the term ends. Understanding how CDs work and when they make sense for your situation helps you decide if they fit your savings plan.
These articles explore questions like how to choose a CD term that matches your timeline, whether to ladder multiple CDs to access money gradually, what happens if you need to withdraw early, and how CD rates compare to other savings options. You'll learn strategies for making CDs work alongside your other financial goals.