Savings accounts, certificates of deposit (CDs) and money market accounts serve different purposes for managing cash. Savings accounts offer flexibility and quick access to funds, making them useful ...

Don't make a five-figure deposit into either account before calculating the interest-earning potential each offers.

"Looking at the first six months of the year, combining those two, the C Fund's up 6% and the S Fund's up 2%," said Art Stein.