It can also provide guaranteed returns since your rate is locked in when you bring up the account.
Earnings are based on APYs and assume interest is compounded annually.
What difference does that make for your interest earnings?
How much can you earn by depositing other amounts?
Here are some examples of interest earnings for other deposit amounts.
Earnings assume interest is compounded annually.
All banks compound interest differently.
Your CD may compound interest daily, weekly or monthly.
The more frequently the interest compounds, the more money you earn.
you’re free to use aCD calculatorto figure out exactly how much interest your CD could earn.
Ask yourself these questions when you’re choosing a CD:
