CDs vs Money Market Accounts: Which Is Better for You?

Here's what you need to know when deciding on CDs vs money market accounts.

An array of piggy banks in saturated colors on a high color contrast background.
(Image credit: Getty Images)

As savings rates have been staying relatively high with the Federal Reserve holding back on interest rate cuts, you’ve probably thought about how you can take advantage of these high APYs. One way to do so is by deciding which savings account is the right fit for you. 

Maybe you’re thinking about a CD vs. high-yield savings account, or maybe, you’re toying with the idea of CDs vs. money market accounts. If that’s the case, keep reading to learn more about whether or not you should choose one over the other. 

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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.