Fixed Rate Savings Accounts: What Are Your Options, and What Kind of CD Strategy Should You Use?

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Fixed Rate Savings Accounts: What Are Your Options, and What Kind of CD Strategy Should You Use?

It is quite common for people to look for savings accounts with fixed rates. However, traditional savings accounts usually have variable rates. For true fixed rate savings, you’ll have to consider a CD account or a savings account that accumulates a predetermined interest rate for a set period of time, or the «introductory period», after which, the rate could go either down or up, depending on how much money you put into the account. There are usually different levels or tiers of savings accounts, and you might be required to continue putting more money into the account if you want to keep a decent APY rate.

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