Certificates of Deposit (CDs)

A Certificate of Deposit (CD) is a low-risk savings product offered by banks and credit unions. It provides a fixed interest rate in exchange for keeping funds deposited for a set term, which can range from a few months to several years. Longer terms usually come with higher interest rates.

Unlike regular savings accounts, CDs restrict access to your money until the maturity date. Early withdrawals often come with penalties, making them better suited for savings you won’t need immediately.

CDs are ideal for conservative savers who want predictable returns without market volatility. They offer a stable way to grow your money over time while preserving your initial investment.