Did you know there are special accounts called CDs where you can save money and earn interest? Recently, the interest rates on these accounts have been going down.
- CDs are like savings accounts, but you agree to keep your money in them for a specific time.
- You earn more interest with a CD than a regular savings account.
- If you take your money out early, you might lose some of your earned interest.
- Experts suggest keeping some money in a regular account for emergencies.
| Fact | Details |
|---|---|
| Average CD interest rate | Below 2% |
| Highest CD interest rate | 4.50% |
| Interest rate comparison to savings accounts | About 1 percentage point higher |
