ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -CDs often have higher interest rates than traditional savings accounts because the money you deposit is tied up for the term of the CD.

Detailed explanation-2: -The best money market accounts tend to have higher interest rates than regular savings accounts because the bank invests your money in low-risk, short-term assets.

Detailed explanation-3: -Key Takeaways. Money market accounts have higher interest rates than traditional savings accounts. Money market accounts limit your withdrawals per month and typically have a higher balance requirement than traditional savings accounts.

Detailed explanation-4: -A CD is a type of savings account with a fixed time period and interest rate. CDs tend to have higher rates than regular savings accounts but don’t allow easy access to your money until a term ends.