CDs: Pros Guaranteed rate of return: CDs provide a fixed interest rate for the duration of the certificate, providing a predictable return on your investment. Typically, no monthly fees: Unlike some savings accounts, CDs often come with no monthly fees, allowing you to maximize your savings. CDs: Cons Limited accessibility: Once you deposit funds into a CD, you cannot withdraw the money until the certificate matures without incurring penalties. Subject to inflation risk: Unlike a HYSA, a CD locks your money in to a set rate, so if interest rates decrease before the certificate matures, the money you have invested may lose some purchasing power if the gains are not in correspondence with inflation.