Certificates of deposit (CD) are a savings tool that usually offers higher interest rates than traditional savings accounts. CDs are low-risk and have fixed rates and terms that can provide predictable returns at maturity. What to Consider When Shopping for a CD Considering your savings goals will help determine what rate, term, and type of …
What to Consider and What You’ll Need to Open a CD Read More »
Promotional offers or some may say “specials” for certificates of deposit (CDs) come with off-standard terms, generally higher rates, and often additional requirements. But before signing on for special CDs, it’s important to be diligent, read the fine print, and understand your agreement. This can help alleviate any surprises. CD “Special” Offers New Money As …
Don’t Get Blindsided by High CD Rates – What to Know About CD “Specials” Read More »
Certificates of deposit (CDs) and high-yield savings accounts are generally a great place to store excess cash while earning more with higher-than-average interest rates. But what truly differentiates the two is how the interest rate is set and the accessibility of your cash. What is a CD? A CD is a low-risk account that offers …
CDs vs. High-Yield Savings: What’s the Difference If They Both Offer Competitive Rates Read More »
Certificates of deposit are a safe way to invest your money while earning more with interest rates that are generally higher than your traditional savings account. CDs typically have a fixed-term length and fixed-term rate, with a minimum deposit required to open the account. But there is a catch. When you open a CD, you …
What Is a CD Early Withdrawal Penalty and How Do I Avoid It? Read More »
Government-backed deposit insurance protects money in deposit accounts in the unlikely event that a bank or credit union fails. Banks are insured by the Federal Deposit Insurance Corporation (FDIC), while credit unions are insured by the National Credit Union Administration (NCUA). What is the FDIC? In response to many Americans who lost their life savings …
FDIC vs. NCUA: What’s the Difference and Is One Potentially Better Than the Other? Read More »
When to lock in CDs with high rates has been a hot topic now that the Federal Reserve’s efforts to combat inflation may be coming to an end. For retirement account holders who will receive a required minimum distribution (RMD) in 2024, now‘s the time to consider a CD to maximize retirement savings. What are …
Can I Move My RMD into a CD (Certificate of Deposit)? Read More »
As some of you may be nearing retirement, you’re probably thinking about the best way to maximize your retirement funds in the home stretch. IRAs (individual retirement accounts) are a great strategy for your retirement savings and with the current state of interest rates (5% and above) placing your IRA funds in a CD (Certificate …
Don’t Wait Until April to Make Your IRA Contribution Read More »
Certificates of deposit (CDs) and bonds are known to be low risk as they typically are designed to return your principal, generally pay higher interest rates than traditional savings accounts, and offer fair returns. You’re able to tuck away excess cash, watch it grow at a set term and interest rate, and be confident that …
Bonds vs. Certificates of Deposit (CDs): What’s the Difference Read More »
There are several options to safely store money, but deciding on which option to choose is a little easier when you know you can grow your nest egg while it’s tucked away. Certificates of deposit (CDs) and money market accounts (MMAs) can do just that. They are alternatives to traditional savings accounts and are not …
Money Market Accounts (MMAs) vs. Certificates of Deposit (CDs): What’s The Difference? Read More »
If you’re thinking about ways to save your money, consider putting it in a Certificate of Deposit (CD). A CD is a bank account with an interest rate that is generally higher than a regular savings account. CDs typically have a fixed-term length, fixed-term rate, and a fixed date of withdrawal, known as the maturity …
What Are the Different Types of CDs (Certificates of Deposit)? Read More »
