CD 101

CD Scams

Don’t Get Had with These Certificates of Deposit Scams

Savers are no strangers to the growing number of fake high-yield CDs offered by scammers. The criminals are getting more savvy at making fake CDs seem legitimate and using them to steal personal and financial information. This makes it more difficult for consumers to decipher whether they’re being tricked or if they’ve found a legitimate …

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What to Consider and What You'll Need to Open a CD

What to Consider and What You’ll Need to Open a CD

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 …

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HYSA

CDs vs. High-Yield Savings: What’s the Difference If They Both Offer Competitive Rates

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 …

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early withdrawal penalty

What Is a CD Early Withdrawal Penalty and How Do I Avoid It? 

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 …

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FDIC vs. NCUA: What’s the Difference and Is One Potentially Better Than the Other? 

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 …

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Can I Move My RMD into a CD (Certificate of Deposit)?

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 …

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Don’t Wait Until April to Make Your IRA Contribution 

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 …

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Bonds vs. Certificates of Deposit (CDs): What’s the Difference 

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 …

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Money Market Accounts (MMAs) vs. Certificates of Deposit (CDs): What’s The Difference?

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 …

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