Compare Savings Products
Money Market Savings or Certificate of Deposit? Deciding where to put your money is a big decision. We’ve assembled some key facts to help you make the right choice.Money Market Savings
If you’re looking to earn a higher rate than a traditional savings account, but still want easy access to your money, this may be the account for you:
- Offers a higher yield on deposit than a traditional savings account.
- Includes easy access to money through checks and an Check card.
- Standard Money Market restrictions of six transactions per statement cycle will apply.
- Requires a $500 minimum investment, no minimum balance thereafter.
- No monthly service fees when you maintain a $500 minimum balance.
- Fees will apply if your balance falls below $500.
- FDIC-insured up to $100,000 per depositor
Certificate of Deposit
If you can afford to lock your money away for anywhere from three months to five years, you’ll earn even higher interest rates than a Money Market Account:
- Offers a higher yield on deposit than a savings, checking or Money Market account.
- The longer the term, the higher the yield.
- The CD’s fixed rate makes it immune to market fluctuations.
- Requires a $500 minimum investment
- Money is not accessible (without a penalty) until the term has expired.
- FDIC–insured up to $100,000 per depositor.
