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Certificates of Deposit

When trying to maximize your rate of return, CDs are one of the most logical decisions you can make. An alternative to a regular savings account, CDs earn competitive interest rates.

You simply set up the CD with a fixed interest rate for a fixed amount of time (many term options are available). There is a penalty for early withdrawal, so be sure to consider CDs when you can comfortably let the money grow without withdrawing on the deposit.

Summary