CD Penalties & Yields: Find Your Balance

Explore CD Early Withdrawal Penalties: Balancing Yields and FlexibilityThis podcast episode delves into the crucial aspect of CD early withdrawal penalties. While CDs offer guaranteed interest rates, cashing out early often results in a penalty, typically a few months of lost interest. Penalties vary between banks and terms, so its essential to check the specific policy before committing. Despite these penalties, top-paying CDs can offer up to 4.40% APY. For those prioritizing flexibility, no-penalty CDs are available, but they usually come with lower interest rates. Understanding these structures can help you find a balance between high yields and the flexibility you need.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.