CDs vs Liquid Savings Accounts
Are you looking for a guaranteed interest rate for a set period of time? Do you need the flexibility to withdraw your money at any time?
These are important questions to ask when choosing between a CD or a liquid account, such as a savings or money market savings account. You may even need both based upon your financial needs.
With a CD you will earn a guaranteed fixed interest rate for a set period of time, giving you the confidence that you will earn the exact amount expected over your CD's term. However, with a CD you cannot withdraw your money until the CD matures. If you need to withdraw your money before the CD matures, you could be charged an early withdrawal penalty fee.
With a savings or money market savings account, you will still earn a great rate, however the rate is not guaranteed and may fluctuate over time.
Many customers may choose to place a portion of their money in a CD for a guaranteed rate of return1 and place the remaining money in a savings or money market savings account in order to earn interest and have the flexibility to withdraw their money at any time.
Need more assistance deciding which account is right for you? Simply call us at 888.999.9170 and we'll be happy to answer any questions you may have.
1Rates and Annual Percentage Yields (APY) are subject to change without notice and are effective as of 06/19/2025. No brokered or institutional deposits. Fees may reduce earnings on the account. Penalty may be imposed for early CD withdrawal. See the CD Disclosure for more details.