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Kiplinger
Kiplinger
Business
Sean Jackson

Money Market Account vs. No-Penalty CD: Which Is Better for Your Savings?

A man watering a money tree. Illustration. .

In today's unpredictable economic climate, finding a safe yet profitable place for your hard-earned money is more critical than ever. Two smart, but overlooked savings solutions are money market accounts (MMAs) and no-penalty CDs.

Both accounts share similarities as you earn an APY currently outpacing inflation. You'll have access to your money when you need it. Both also serve different purposes and come with tradeoffs.

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