Current CD rates — March 2021
View current cd rates based on Bankrate.com’s weekly national survey of large banks and thrifts.

Brokered CD is a money term you need to understand. Here’s what it means.
A brokered CD is a certificate of deposit sold by a middleman, called a broker. Financial institutions use brokers to market their CDs to help them gain deposits.
The rates on brokered CDs tend to be very competitive because the financial institution is competing directly with other institutions for your deposit.
A CD is a deposit that you keep with a bank or other financial institution. It is secured by a certain time and cannot be accessed until that time elapses.
A brokered CD follows the same concept, but you work through a broker rather than with your financial institution. The broker holds the CD for the allotted time. A brokered CD is actually a portion of a larger CD held by a financial institution.
The broker who you purchase a brokered CD from invests a large amount of money and then sells off a certain number of shares in that investment. Each person who purchases one of the brokered CDs buys into that larger amount of money invested.
The benefit of a brokered CD is twofold:
If you’re considering investing in a brokered CD, it’s important that you work with a reputable firm because the Federal Deposit Insurance Corp. does not insure brokered CDs. Additionally, fluctuations in interest rates or a broker who desires to get out of the CD before the end of term may cause problems for the investor.
If you purchase a brokered CD through a reputable broker, you are buying a portion of a larger CD with a bank or financial institution of the broker’s choosing. You buy into this CD with other investors and benefit from the payout at the end of the CD or at some other specified time.
What’s the different between a bank CD and a brokered CD? Learn more about these two investment options.