Certificates of deposit are a great way to lock in a high interest rate for a whole year. <\/p>\n\n\n\n
When you have short term savings that you can’t put in higher yielding, and higher risk, accounts – a 12-month CD is often a great choice. They’re the cornerstone of a good savings plan and with a locked in rate, you can get predictability.<\/p>\n\n\n\n
Interest rates are at the highest they’ve been in many years, so now is a great time to consider a 12-month CD.<\/p>\n\n\n\n
Alternatively, if you don’t want to lock in a 12-month rate, you can consider no penalty CDs<\/a> as an alternative. They just like regular CDs except you can close them for any reason without penalty – a great choice if you see higher rates.<\/p>\n\n\n\n