economy
$50,000 short-term CD vs. $50,000 money market account: Here's which will earn more interest now
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TL;DR
- CDs and money market accounts are effective options for savers to protect and grow $50,000.
- Short-term CDs offer fixed rates for 12 months or less, providing predictable returns.
- Money market accounts offer competitive variable rates with full access to funds, including check-writing capabilities.
- For a $50,000 deposit, short-term CDs typically earn more interest than money market accounts with current rates.
- The choice depends on individual needs for access versus guaranteed interest rates; splitting funds between both accounts is also an option.