Rate comparison
Compare APY rates with the terms behind them
Yields matter, but so do compounding schedules, balance tiers, and fees. This page lays out how the main account types differ and what to check before you commit.
Account types
Three structures, three timeframes
Each account type trades liquidity against rate stability. Match the structure to when you will need the money.
Liquid
High-yield savings
Funds stay accessible for emergencies and short-term goals. Rates can change with market conditions, so check how often the bank adjusts its APY.
Short term
Short-term CDs
A fixed term locks in a rate for months rather than years. Early withdrawal penalties usually apply, so confirm the penalty before you deposit.
Long term
Long-term certificates
Longer terms can offer higher fixed rates but tie up cash for years. Compare the penalty structure and any minimum opening deposit.
Before you fund an account
Verify the terms in four steps
01
Confirm the compounding schedule
Check whether interest compounds daily or monthly. The APY already reflects compounding, so use it to compare accounts on equal footing.
02
Read the balance tiers
Many accounts pay different rates at different balances. Confirm the rate that applies to the amount you plan to deposit.
03
Check maintenance charges
Note any monthly fees and the conditions that waive them, such as minimum balances or direct deposits.
04
Review withdrawal rules
Look for transaction limits and early withdrawal penalties. These determine whether the account fits your timeframe.