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Fortune
Fortune
Kaitlyn Koterbski

No-penalty CD vs. savings account: Which is right for you?

Young woman doing home finances in the evening (Credit: Getty Images)

Certificates of deposit (CDs) and savings accounts are two risk-free ways to earn interest on your money. However, they each have limitations on how much or how often funds can be withdrawn. 

Understanding the differences between each can help you make a more informed decision about which savings vehicle is better suited for your financial goals. So read on to learn whether a no-penalty CD or savings account is right for you.

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