BANKING AFFAIRS

Detailed explanation-1: -Traditional savings accounts earn the least amount of interest. Money market accounts earn higher interest rates than traditional savings accounts but still typically offer lower interest rates than other accounts.

Detailed explanation-2: -CDs usually offer higher rates of interest than savings accounts. Savings accounts offer some of the lowest rates of any investment.

Detailed explanation-3: -CD accounts may offer better interest rates than savings accounts. Longer terms will usually also have more favorable rates.

Detailed explanation-4: -A certificate of deposit (CD) is a savings tool that often pays higher interest rates when compared to a typical savings deposit account. A CD earns interest at a fixed rate over a set period of time known as the term. Withdrawing cash from a CD before it matures generally results in a penalty fee.