Certificate of Deposit - Your money back plus a good buck!

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High Certificate of Deposit Rates

Looking for a low-risk way to invest your money and receive a guaranteed return? Consider purchasing a CD, or a certificate of deposit. They are offered to consumers by banks and credit unions. CDs work similar to a deposit account: you can save money while you earn interest on it. The difference is that a certificate of deposit typically has a fixed rate and predetermined fixed term - from three months to five years. Unlike many other investments, CDs are insured up to $250,000, so it is a risk-free investment.

People searching for the best way to invest their money often turn to certificate of deposit. The principle of their work is rather simple. You invest a fixed sum for a set length of time - six months, one year or five years. In exchange, the bank or credit union pays you interest. When the CD matures, you get back the sum you originally invested plus accrued interest.
The key to getting the highest return on the sum you are planning to invest is to find the best CD rates. A higher interest rate will yield higher earnings! So if you want to maximize your financial benefits, pay attention to the following tips.

  • Certificate of deposit may come with higher interest rates for larger deposits. The best rates are typically provided for "Jumbo CDs" with minimum deposits of $100,000.
  • Maturities on certificate of deposit can range from a few weeks to several years. Longer term CDs generally come with higher rates than short term CDs.
  • If you arrange to have the interest periodically mailed to you as a check or transferred into your savings account, it will reduce your total yield.
  • Consider when you will need the money you invested. Withdrawals before maturity are usually subject to a penalty.
  • Find out whether you can add money to your account or it is one lump sum. If your CD doesn't allow additional deposits, you can use several CD accounts.
  • Compare rates and terms from different providers. Just determine the most important features and options you need, check all offers on our site and find the most suitable CD online!

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