CD vs Money Market Calculator \

Access Rules: Withdrawals vs. Full Lock

The Federal Reserve removed the six-per-statement-cycle transfer limit from Regulation D for savings-type accounts in 2020, but many banks still enforce their own contractual withdrawal limits on money market accounts. A CD, by contrast, offers zero access until maturity without paying a penalty.

When full liquidity matters — an emergency fund, irregular freelance income, or a bill-pay buffer — a money market account keeps your cash reachable. When the goal is to prevent impulsive spending and earn a predictable return, the CD's lockup can be an advantage rather than a drawback. Some savers treat both as complementary: a money market account for cash they may need and a CD for cash they are certain they will not touch.

Enter the rates you have been quoted for each product in the calculator to see the dollar difference over your chosen time frame.

Rate Dynamics Over Different Terms

For short terms of three to six months, a money market account often earns comparably without the lockup risk. For longer terms of 12 months or more, a CD's fixed rate protects you if rates decline. In a flat or rising-rate environment, however, the money market account may match or exceed the CD — you simply cannot know in advance which path rates will take.

The calculator removes the guesswork by showing what each product earns at the rates you enter today. Run it twice: once with the current money market rate held flat, and once with a lower rate to simulate a potential decline. The side-by-side comparison reveals how sensitive your outcome is to rate changes and whether the CD's certainty premium is worth the liquidity trade-off for your situation. For a deeper look at the CD side, the CD calculator includes an early withdrawal penalty estimate.

Money market rates change without notice. The comparison reflects only the rates you enter, not a forecast of future movements.