Other financial institutions may let you open a CD with less money.Ģ-year CD early withdrawal penalty: 730 days of interest Popular Direct CDs have a $10,000 minimum opening deposit. Popular Direct also might be appealing if you're looking for a high-yield savings account. Popular Direct 2 Year CDĪ 2-year Popular Direct CD pays a higher interest rate than most brick-and-mortar and online banks. If you're also interested in other CD terms, check out our overall best CD rates guide. A 2-year CD might be a good choice if you can keep money in an account for at least two years. 2-Year CD ReviewsĬhoosing a CD term will likely depend on the timeline of your goals. Remember that you can add more funds to your money market account over time, while a CD typically only allows an opening deposit. Money market accounts do not have early withdrawal penalties, but many banks require higher deposits for money market accounts than CDs. With a CD, withdrawing money before the term ends means you'll usually face an early withdrawal penalty. You may prefer a money market account over a 2-year CD if you want quick access to your money.
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