Mapping out plans to build your savings can be challenging, especially when interest rates fluctuate. A certificate of deposit (CD) is a good alternative if you're risk-averse when investing.
A CD is a type of savings account that allows people to earn interest at a fixed rate that's often higher than what's available with traditional savings accounts. However, CDs can also have some downsides given their nature of holding funds for a set term. Here are a few important things to consider to help you decide if a CD is right for you.
