Different Types of CD

Certificates of Deposit (CDs) come in various types, including traditional CDs, which offer fixed interest rates and terms, and high-yield CDs, which typically provide better rates for larger deposits or longer terms. There are also no-penalty CDs that allow early withdrawals without fees, and bump-up CDs that permit rate increases if market rates rise. Additionally, variable-rate CDs have interest rates tied to a benchmark, adjusting over time. Each type caters to different financial goals and liquidity needs.