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What's the difference between a CD and a savings account?

Updated: 7/27/2021
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Emie Beahan

Lvl 10
4y ago

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Basically in a savings account you put in a certain amount of money and based on the amount that you put in, there will be a specific interest rate. In a CD account you can put in money and the interest rate will raise as time goes by, usually starting at 0.01% the first year.

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Manley Rogahn

Lvl 10
2y ago
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Q: What's the difference between a CD and a savings account?
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