3 ms·
A 1 year CD is a terrible investment, but a lot of 5 year CDs have very generous early withdrawal penalties. Unless you are making over 2% in your FDIC-insured
by ac29 11y ago
A 1 year CD is a terrible investment, but a lot of 5 year CDs have very generous early withdrawal penalties. Unless you are making over 2% in your FDIC-insured money market account, a 5 year CD is probably a better investment.
- hwstar 11y agoThe withdrawal penalties can be anywhere from 6 to 30 months interest for a 5 year CD. 6 months seems pretty rare with only a few institutions offering it.