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Savings Account
Basic, money market, and CD
Question | Answer |
---|---|
Money market | higher interest rate |
Certificate of deposit | highest interest rate |
Basic savings | lowest interest rate |
Money market | limited withdrawals |
Certificate of deposit | penalty for early withdrawal |
Basic savings | withdrawal anytime |
Money market | higher minimum amount |
Certificate of deposit | At least $1,000 - $5,000 minimum amount |
Basic savings | At least $25 minimum amount |
Money market | best for long term goal |
Certificate of depsosit | best for long term goal |
Basic savings | best for short term goal |