CD vs. High-Yield Savings Account: Which is Better?

Deciding between a CD vs. high-yield savings account? Here's how to choose.

Big question mark over blue pig piggy bank.
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Unsure whether a CD or high-yield savings account is right for you? Both accounts keep your savings safe and accrue interest, but apart from that, they have significant differences. Understanding the differences between the two accounts can help you decide which is appropriate for your particular savings goals. Keep the following aspects in mind when deciding whether a CD or a high-yield savings account is the right choice for you.

When to choose a CD 

Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.