'You can get the same return in a high-yield savings account or a money market account without having to lock your cash up for a period of time,' Eric Roberge, a certified financial planner and founder of Beyond Your Hammock, tells CNBC Make It.

Of course, the Wealthfront executive isn't totally unbiased, since his company does offer a cash account with a high APY.īut it is true: There are other options available that pay roughly the same interest as a CD and don't require you to lock up your money. 'It might seem like a great idea to put your emergency fund in an account that earns a higher rate, but if that rate comes with the stipulation that the funds are locked up for a set period of time, that money is not of much value if the emergency for which you saved occurs in the interim,' Rachleff says. In fact, Wealthfront CEO Andy Rachleff sees ' serious reasons to take pause' before moving your savings into a CD. Interest may be added back to the CD or paid by check annually and at maturity, or deposited into a First American Bank and Trust account monthly, quarterly, or annually.įor information on interest bearing checking, money market, and savings accounts, please contact an employee of the bank.But just because the Fed cut rates again doesn't mean that using CDs will automatically earn you a higher rate. Interest may be added back to the CD or paid by check at maturity or deposited into a First American Bank and Trust account monthly or at maturity. Interest Rates subject to change without notice.

If any Certificate of Deposit owner dies or is declared legally incompetent, the Certificate of Deposit can be redeemed early, without penalty.

For a CD with a term greater than twelve (12) month, the penalty is six (6) months interest, regardless of when you redeem the account prior to maturity.

For a CD with a twelve (12) month or shorter term, the penalty is three (3) months interest, regardless of when you redeem the account prior to maturity.

The annual percentage yield is accurate as of the above date.įees could reduce earnings on the account.Įarly Withdrawal Penalty: If you redeem a Certificate of Deposit (CD) prior to maturity, you will incur an early withdrawal penalty. The annual percentage yield assumes interest remains on deposit until maturity.

Cd interest rates 2019