No-penalty CDs vs. savings account: How to choose. For many people — including retirees and those on fixed incomes — combining a no-penalty CD and a savings account can offer the best of both ...

Emergencies happen, and you won't need to stress if you have to dip into savings. Breaking a CD contract is generally a bad idea Breaking an old CD contract can make sense if the numbers work in ...

No-penalty CDs give savers more flexibility because if you need to withdraw money before the CD matures, you incur no penalty. In exchange, you earn a lower interest rate compared with other CDs.