High Yield Savings Account vs. CD Savings Calculator
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Both high yield savings accounts and CDs are low-risk savings options. Use our high yield savings account vs. CD calculator to maximize your interest earnings. Enter the amount you intend to deposit in either a savings account, short term CD, or long term CD; the predicted annual interest rate increase; and the interest rate and deposit terms for each account to see which account will earn the most as interest rates rise.
High Yield Savings Accounts
A high yield savings account is a type of savings account that earns a higher interest rate compared to traditional savings accounts. High yield savings accounts are great places to store an emergency fund or savings you need access to in the near future.
Certificate of Deposit
Like a high yield savings account, a certificate of deposit (CD) earns a higher interest rate than a traditional savings account. Unlike a high yield savings account, a CD comes with a maturity date, meaning you can’t touch the funds you place in the account until you reach the date of withdrawal.
Next Steps
Fifth Third can help you reach your savings goals. Learn more about our savings accounts and CDs. Questions? Visit a branch, schedule an appointment, or give us a call at 1-877-579-5353.
Additional Resources
5 Ways to Boost Your Savings Account
Not having a savings account may not have impacted you yet, but it's only a matter of time until a financial emergency happens and you're left strapped without any money. Saving may seem like it's all for nothing, but putting money away helps to create a financial cushion that you one day may very well need.
How Inflation Affects Your Savings
The price of a movie ticket, a house, or a semester in college tends to rise over time, sometimes quickly and at other times slowly. That fact has great relevance to your personal savings plan.
7 Ways to Protect Your Finances in Today’s Uncertain Environment
Financial impacts of COVID-19 are being felt by business owners and families alike. Here's how to protect personal finances during economic uncertainty.
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