View the rates for certificates of deposit below. You also have the option to select to view money market and savings account rates as well. The rates for certificates of deposit below are always current and showing you the highest rates for certificates of deposit, money market and savings accounts. All certificates of deposit accounts listed below are insured up to $250,000 per depositor by the FDIC or NCUA.
Rates For Certificates Of Deposit
A certificate of deposit, commonly referred to as a CD, is a type of savings account that banks and other financial institutions offer. In exchange for depositing funds for a period of time (usually 3 months or longer), you’ll get rates for certificates of deposit that are higher than savings account rates. Bank CDs are protected by the FDIC up to $250,000, and the longer you leave your deposit with the bank, the more your money will grow.
Typically, the interest rates for certificates of deposit are compounded, so your money grows quickly. However, a tradeoff is that you cannot have access to that money whenever you’d like, but rather must adhere to the deposit term specified (or face deep penalties). Rates for Certificates of Deposit Are More Important the Longer Your Money Is Deposited
There are many kinds of CDs available, with each offering different rates, requiring various deposit lengths, etc. It’s important to evaluate your choices based on how much money you want to deposit, and the length of time you’ll invest, in order to get the certificate of deposit that best suits your individual needs. |
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