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.

Certificates of deposit (CDs), which are time deposit accounts that hold your money for a specific length of time and earn you interest, are collecting dust in America’s collective tool chest.

Browse Investopedia’s expert-written library to learn more. CDs, along with other types of deposit products, do not build credit. Only borrowing money through some type of loan from a ...

See how we rate banking products to write unbiased product reviews. You might want to open a 6-month CD if you're looking for a way to lock in a high interest rate for half a year. According to ...

Business Insider's personal finance team compared Fidelity CDs to the best CD rates and discovered it was a standard offering. Its CD rates are generally strong, but they change often, and ...

Jess Ullrich is a freelance contributor on Newsweek’s personal finance team. As a former financial editor, her expertise spans several verticals, but she particularly enjoys covering banking ...

Holly Johnson is a freelance contributor to Newsweek’s personal finance team with a focus on credit cards and rewards, financial products and travel. Johnson has spent more than a decade ...

Products are independently selected by our editors. We may earn an affiliate commission from links. True skin-care enthusiasts will tell you that the secret to achieving smooth, even-toned, dewy ...

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 ...

Most CDs come with early withdrawal penalties that can wipe out some or all of your earnings. Financial emergencies and better opportunities can justify cashing in your CD early. Don't sleep on ...