Ask Terry Questions High yield savings accounts

High yield savings accounts

By Terry Savage on October 09, 2023 | Chicken Money

Are these as good as a jumbo cd? Are they safe? Some have 5.5% interest and I am wondering if this is a better option than a 5.5% cd that locks your funds up for 12 months. Thanks

Terry Says

Read carefully the terms of all these competing accounts!
Are they FDIC insured?
How frequently can they change the rates? (many change daily)
Are there any penalties for early withdrawal — or a period of time where the funds MUST remain in the account?

Then read this:



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