Financial terms: view below
the definition for terms used on this search results page.
Product: A certificate of deposit (CD) is an FDIC-insured time deposit with a fixed maturity date, usually from three months to five years. It usually pays higher interest than a savings account, and a penalty is charged for withdrawing funds before the maturity date. An individual retirement account (IRA) is a special retirement planning account for individuals.
Institution: The organization in which you deposit your funds. This survey group includes banks, thrifts and other representative institutions.
Rate: The simple interest rate, which is the annual rate of return without compounding interest.
CM: The compounding method used in Bankrate tables. The letters are abbreviated for the following: S for simple interest; A for compounded annually; H for compounded semi-annually; Q for compounded quarterly; M for compounded monthly; and D for compounded daily.
APY: The annual percentage yield based on an institution’s compounding method, assuming funds remain in the account for a 365-day year.
Min deposit: The lowest amount an institution requires to open an account and earn interest.
Advertiser comments: Additional information given by the listed institutions.
Location: Some institutions provide CDs in all 50 states regardless of your place of residence and can be found by selecting the highest nationally available button. Some institutions provide CDs in restricted geographical areas and can be found by entering your ZIP code or selecting the city and state closest to where you live.
Avg. rate: The average of all the rates listed in the rate column.
Avg. APY: The average of all the annual percentage yields listed in the APY column.
Avg. min deposit: The average of the average minimum deposits required in the minimum deposit column.
Show selected only: This reduces the number of listings in the rate table and compares the products you selected by clicking the checkbox.