How do CDs work?

A certificate of deposit (or CD) is an account you leave untouched for a set time while it grows interest. You choose your term length3 and how much money to deposit. Along with earning interest, the account is FDIC insured.

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What is APY?

Annual percentage yield, or APY, is an annual percentage rate that includes the total amount of interest your account earns during its term length, including compounding. (Compounding happens when you earn interest on the interest your account has accumulated.)

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Annual Percentage Yield (APY) and interest rates effective currentDate for ZIP code currentZipcode

More questions about CDs and savings? We have answers.

CDs: How they work to grow your money

Learn how this savings tool works and when it could work well for you.

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What’s the difference between simple and compound interest?

It only takes a minute to understand the exponential power of compound interest.

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Saving vs. investing: What’s the difference?

You know that putting money aside for the future is important. But do you know the best strategies to tackle both saving and investing in the years ahead?

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