A nice place to stash your cash is in a CD. While CD accounts are nice, they can come with some nasty penalties. What is a CD penalty and what can you do to avoid them?
The Long-Term Investment
A CD is designed to be a long-term investment. If you are not keeping the money in the account as you agreed to, you will be punished. A CD is not like your standard savings account or checking account where you can pull money out freely.
CD Penalty Rules
A CD penalty is usually enforced when you withdraw money before the maturity date. If you invest the money for 5 years, you will likely get the best CD