The Costly CD Oversight That Can Hurt You Twice
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BTCCSquare news:
When a certificate of deposit nears maturity, inaction can lead to automatic renewal at subpar rates, locking funds into unfavorable terms. Banks often default to uncompetitive rates, significantly undercutting potential yields available elsewhere. The Federal Reserve's recent rate cuts amplify the urgency for depositors to reassess their options proactively.
Flexibility remains paramount. High-yield savings accounts present an alternative for those seeking liquidity without sacrificing growth. The penalty for early withdrawal from a rolled-over CD adds another LAYER of financial friction, making preemptive decision-making critical.
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