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Friday, April 19, 2024

CD vs. high-yield savings account — which earns 5.5% after the Fed rate hike?

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The face-off

Higher interest rates have made it more expensive to carry a balance on your credit card or take out a car loan, but on the flip side, there’s an opportunity to earn more interest on cash savings. You can do this by opening a high-yield savings account or buying a certificate of deposit (CD). (This column will focus on those two options; you can read about other cash investments here.)

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