Missing your CD maturity date can be an expensive (and frustrating) mistake, but there are steps you can take to remedy the issue. Getty Images

While the economic environment has been shifting, certificate of deposit (CD) accounts continue to be a valuable savings option right now, one with a relatively high annual percentage yield (APY) in the current rate environment. Part of the draw, especially in today's changing interest rate environment, is that CD account interest rates are typically fixed throughout the CD term, meaning that they won't change, which can help you grow and protect your money.

In turn, you can use CD accounts to help grow your funds over time. But the major drawback is that the money you deposit is typically inaccessible until the CD's maturity date

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