3 CD Account Mistakes to Avoid This September
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TL;DR
- Avoid opening a CD account before the Federal Reserve's meeting on September 16, as a potential interest rate hike could lead to better rates later in the month.
- Opt for long-term CDs instead of short-term ones, as long-term accounts are currently offering higher interest rates.
- Explore online banks for potentially better CD rates and terms compared to traditional brick-and-mortar banks.
- Early withdrawals from CDs incur fees that can eliminate earned interest.
- CDs offer fixed interest rates, providing predictability and security for principal.