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A certificate of deposit, or CD is a financial product offered by banks, credit unions and other financial institutions. Like savings accounts, CDs are insured (by the FDIC or NCUA) and are thus virtually risk-free. Unlike savings accounts, a CD has a specific, fixed term (often three months, six months, or one to five years), and, usually, a fixed interest rate providing a high yield. If the CD is held until maturity, the money may be withdrawn together with the accrued interest. For more information on CD accounts and high-yield online savings accounts bookmark CDspotter.com (CTRL-D or command-D) now, and come back to check out fresh articles every week.

What is a Money Market Account?
When it comes to growing your savings, you may think of putting your money away in a savings account or certificate of deposit. However, many people find that keeping their money tied up for long periods of time or earning lower interest, defeats the purpose of saving and having access to funds when needed. Money market accounts were set up in the 1980s as an alternative. What is a money market account? You can think of a money market account as a hybrid of some of the most popular banking products available to consumers today. . Money market accounts can help you reach your savings goals in several ways:

Which Bank Offers the Best High Yield Money Market Account?
The banking landscape has become ultra-competitive as people look for the best possible deals. One of the best ways to grow your savings while still getting the flexibility and convenience of writing checks or making withdrawals is through a high yield money market account. Because competition between banks is so fierce, many banks are offering excellent deals in exchange for your business and loyalty as a customer.

How to Get the Best Interest Rates on Money Market Accounts
People are looking for more ways than ever to place their savings in a stable, low risk environment. A money market account can be one of the best short-term solutions to grow your savings. However, it's important that you do your research to get the best interest rates on money market accounts. Here's how:

Reach Your Savings Goals Faster Thanks to High Yield Online Savings Accounts
Everyone is looking for ways to make their money work harder. Whether you’re saving for a special purchase, such as a TV or a down payment on a car, or you’re putting money away toward a child’s education, high yield online savings accounts can help you reach your financial goals while still giving you the flexibility you need to access your cash quickly. Here’s how to tell if this type of savings account is right for you.

Is a Money Market Account Right for You?
A money market account is a type of banking product that blends several of the benefits offered by checking accounts, savings accounts and CDs (certificates of deposit). Unlike a CD, where your money is stored for a set amount of time with a penalty for early withdrawal, a money market account will let you write a set number of checks against the balance in a given month. What’s more, a money market account (MMA) tends to earn higher interest rates, comparable to a savings account. So, how do you know if a money market account is right for you? Read on for all the details.

How Does a Certificate of Deposit Work?
Certificates of deposit (CDs) are a type of savings program, offered by banks, which can pay substantially more than traditional savings accounts. When you purchase a certificate of deposit, you are, in a sense, loaning that money to the bank by agreeing to save a certain amount of money for a set amount of time. The amount you deposit and the length of time you leave it in the bank lets you earn a higher rate of return, and a CD offers the added security that comes with having your deposit FDIC-insured.