CDs

Certificates of Deposit (CDs) are financial products offered by banks and credit unions that let you deposit money for a fixed period, typically ranging from a few months to several years. In return, the institution guarantees your interest rate and returns the original amount (principal) at the end of this term. CDs usually offer higher interest rates than regular savings accounts because your money is locked in for the agreed period. They are low-risk investments, ideal for saving with a specific goal and a timeline, providing stability and predictable growth on your funds.