Want to know if you’re getting a good rate on your savings and CDs? Take a look at Bankrate’s national averages and find out.
A common concern is whether large sums of money are safe with an online institution.
Five-year CDs typically offers higher interest rates than standard savings accounts, money market accounts or shorter-term CDs.
Consumer complaints against banks, mostly regarding checking accounts, rose in 2015, according to the Consumer Financial Protection Bureau.
CD rates vary across the country. Find out which cities have the highest rates on one-year CDs and five-year CDs.
Since December 2008, interest rates set by the central bank have been virtually zero, leading to low CD rates and even lower savings account and money market account rates.
Besides the banking regulations governing the number of transactions allowed in savings and money market accounts and minimum early withdrawal penalties on CDs, there is a huge amount of variation between banking products.
Though there’s no one-size-fits-all answer for savers and investors, examining goals and time frames can provide direction when considering saving and investment vehicles.
Hear about a surprising group of savers, and about how to find better rates on CDs.
According to an SEC lawsuit, at least four account holders invested $532,000 in CDs in the financial scam.