Are certificates of deposit accounts better than money market accounts?

Certificates of deposit and money market accounts are two different options for savings. Both have pros and cons and one may be better suited to your needs than the other. Taking time to learn the ins and outs of CDs and money market accounts can help you decide which one is right for you. What Is a Certificate of Deposit Account?

What is the difference between a money market account and CD?

Money market accounts (MMAs) and certificates of deposit (CDs) are types of federally insured savings accounts that earn interest. But their rates and ease of access differ. CDs tend to have higher rates than money market accounts and give no access to your money until a term ends.

What is a money market account (MMA) & a certificate of deposit (CD)?

Money market accounts (MMAs) and certificates of deposit (CDs) each provide a boost to your savings by offering competitive rates but differ in how liquid — the ability to be converted into cash easily at any time — they are.