How are CDs different than HYSA or Money Market accounts?

CDs tend to have higher interest rates than Money Market Savings Accounts and High Yield Savings Accounts (HYSAs), but they also offer less liquidity since there is a penalty for withdrawing money early. CDs have a fixed rate for the term of the CD, HYSAs and Money Market Savings Accounts do not so there is a risk the bank will lower your interest rate at any time.