Want the Best Returns? Compare CD Options Carefully

CDs and high-yield savings accounts both provide better returns than regular savings accounts in today's rising interest rate environment.
CD rates are determined by the current interest rates set by the Federal Reserve, the length of the CD's term, and the amount deposited.
Longer-term CDs typically offer higher interest rates but often charge penalties for early withdrawal of funds.
The types of CDs to consider include traditional high-yield CDs, no-penalty CDs, and bump-up CDs, each with different benefits and drawbacks.
To maximize returns while meeting financial needs, compare rates and understand each option before deciding where to put money.