CreditDonkey asked a panel of industry experts to answer readers' most pressing questions on CDs. Here's what they said: Brian C. Jenkins, Associate Teaching Professor and Director of Undergraduate Studies in the Department of Economics at University of California, Irvine. When is a good time to get a CD? Jenkins: CDs are useful for when you have savings that you do not anticipate needing to access (e.g., part or all of your emergency fund) for a set period of time. Whether you should put your funds in a CD or a more liquid account, like a savings account, will depend on the interest rates on the CD versus other options, the penalty fee for early-withdrawals from the CD, and the likelihood that you will need to make an early withdrawal. If the CD rate is sufficiently higher than other deposit rates and you're reasonably confident that you won't need the funds, then a CD could be a good option.

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