10 Things to Watch When Interest Rates Go Up

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CDs

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Certificates of deposit allow savers to lock in higher rates of return in exchange for not being able to access their money for a period of time. The risk is that if interest rates rise, CD holders are still stuck in lower-rate products. Anyone purchasing CDs should check on the penalty for early withdrawals, in case it makes sense to withdraw money early, suggests Richard Barrington, senior financial analyst at MoneyRates.com.

Next: Savings accounts


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