What first-time CD investors face1 of 8Whether you're just setting out on your path to saving or are nearing retirement, a bank certificate of deposit, or CD, can give you a fixed interest rate typically higher than that of a traditional savings account or money market account. From three months to five years, the wide range of terms for bank certificates of deposit gives you plenty of options.High interest rates and Federal Deposit Insurance Corp. insurance are obviously important when searching for a new CD, but you need to consider other crucial factors.As you begin your search, remember these six tips. Related Articles:Brokered CDs a mixed bagIndex of CD calculatorsHigh-yield CDs best bestNo-penalty CDsRelated Links:CD penalties are costlyCompounding and CD valueCD-laddering calculatorCD or Treasury ladder advertisement
Whether you're just setting out on your path to saving or are nearing retirement, a bank certificate of deposit, or CD, can give you a fixed interest rate typically higher than that of a traditional savings account or money market account. From three months to five years, the wide range of terms for bank certificates of deposit gives you plenty of options.
High interest rates and Federal Deposit Insurance Corp. insurance are obviously important when searching for a new CD, but you need to consider other crucial factors.
As you begin your search, remember these six tips.
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A little research could save you BIG on interest.