Hey kids! Ever heard of a Certificate of Deposit (CD)? It's like a special savings account where you keep your money for a specific time (like 6 months or a year). In return, you earn interest – that's extra money! It's a safe way to make your money grow.
- CDs offer higher interest than regular savings accounts.
- You can't easily take your money out early without a small penalty.
- Different banks offer different interest rates (APY).
| Bank | 6-Month APY | 1-Year APY | 18-Month APY |
|---|---|---|---|
| Bask Bank | 4.45% | 4.40% | 4.00% |
| America First CU | 4.27% | 4.35% | 4.10% |
| Marcus by Goldman Sachs | 4.20% | 4.25% | 4.10% |
