Explore the fixed-rate certificate of deposit – its purpose, workings, benefits, drawbacks, and strategies to optimize your investment returns.

The APY on your CD represents the rate of return you'll receive on your cash over 12 months. CDs earn compound interest, ...

A certificate of deposit (CD) is a type of deposit account that offers a fixed interest rate. To earn that rate, you'll typically need to keep your funds in the account for a certain period of time.