 TITLE: What’s the Difference Between Money Market Accounts, CDs and Savings Accounts? CONTENT: How to Choose the Right Account for Your Needs\n----------------------------------------------\nSavings account, money market account or CD—which one should you pick?\nA savings account might be a good option if you have a relatively small amount of money and aren't itching to earn a more competitive interest rate. It also might be a smart choice when you want to be able to use an ATM card or electronic transfer to access your cash.\nIf you've got a bigger stash of cash and you want to be able to access it easily, a money market account may be the way to go. You typically earn a higher interest rate with a money market account compared with a savings account. But you may need to stay above minimum balance requirements to avoid fees. And, just as with a savings account, the number of withdrawals per month may be limited.\nTo earn a potentially higher interest rate than a savings or money market account, you might park your money in a CD. But unless you keep your money in a CD for the prescribed amount of time, such as six months or 60 months, you may face a financial penalty that could erase the interest you've collected. END