Manage Your Finances with Confidence and Simplicity
We put your money to work so you can take it easy. Build wealth with automated investing, earn more on your cash with variable 5.00% APY*, and grow your retirement with tax-advantaged IRAs.
How to Choose Between the Best Saving Accounts?
We put your money to work so you can take it easy. Build wealth with automated investing, earn more on your cash with variable 5.00% APY*, and grow your retirement with tax-advantaged IRAs.
Assess Your Financial Goals
Determine if you need long-term stability (CD Account) or short-term flexibility (High-Yield Savings Account).
Compare Interest Rates
Look for the highest interest rates to maximize your savings growth.
Assess Accessibility & Flexibility
Decide how often you'll need access to your funds: frequent access (High-Yield Savings) or limited access (CD Account).
Understand Fees and Penalties
Review fees, minimum balances, and early withdrawal penalties to find the best fit for your financial habits.
CD Accounts and High-Yield Savings Accounts
| CD | High-Yield Saving | |
|---|---|---|
| Interest Rates | Typically higher | Competitive, but usually lower |
| Access to Funds | Limited access until maturity | Flexible access at any time |
| Minimum Deposit | Often requires a higher minimum | Generally lower minimum deposit |
| Interest Rate Stability | Fixed interest rate for the term | Variable interest rate |
| Early Withdrawal Penalties | Fees for withdrawing early apply. | No penalties for withdrawals |
| Ideal For | Long-term savings goals | Short-term or emergency savings |
| Risk Level | Very low risk, insured by FDIC | Very low risk, insured by FDIC |
| Term Length | Terms: months to years. | No fixed term, ongoing account |
| Account Management | Set and forget, low maintenance. | Needs better handling |
What is Yieldhorizon?
We believe that everyone deserves access to smart, simple, and effective investment solutions. Founded with a mission to democratize financial growth, we are committed to helping individuals achieve their financial goals with ease and confidence. Our team of experienced professionals combines cutting-edge technology with personalized service to provide an unparalleled investment experience.
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Tips for Using CD & High-Yield Savings
Diversify Your Savings Strategy
Combine both CD Accounts and High-Yield Savings Accounts to balance between higher returns and liquidity. Use CDs for long-term savings and high-yield accounts for emergency funds or short-term goals.
Avoid Early Withdrawal Penalties
Plan your CD investments carefully to match your financial goals and timelines. Withdrawing funds from a CD before maturity can incur penalties, so ensure you won't need the money before the term ends.
Ladder Your CDs
Spread your investments across multiple CDs with varying maturity dates. This strategy, known as CD laddering, provides regular access to your funds while still earning higher interest rates.
FAQs
Have a question? We’re here to help.