: Allows you to withdraw your full balance and interest after a short initial period without paying a fee.
: If you need to access your money before the maturity date, you will typically be charged a fee, which often equals several months of earned interest. Common Variations bank cd
: This is the date the term ends, at which point you receive your initial deposit plus all earned interest. : Allows you to withdraw your full balance
: You agree to leave your funds untouched for a specific duration, typically ranging from 3 months to 5 years . : You agree to leave your funds untouched
: Unlike traditional savings accounts with variable rates, a CD locks in a specific rate for the entire term.
: Gives you the option to "bump up" your interest rate once or twice if the bank’s rates for new CDs rise during your term.