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 »
Changes have come to effect to Federal Deposit Insurance Corporation (FDIC) coverage. The FDIC adopted a new rule on April 1, 2024, to simplify insurance coverage for beneficiaries, more specifically for formal or informal trust accounts. What does the new trust account rule do? The change combines revocable and irrevocable trusts into one ownership category. …
FDIC Insurance Trust Accounts Update: What You Should Know 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 »
