Top CD Rates Overview
February 23, 2009
With all of the uncertainty these days in both the stock market and real estate, many people have started thinking about certificates of deposit as a more stable option for placing a portion of their investment money. With so many bank CD rates to research, we here at Top CD Rates believed that it would be helpful to create this site to help you in learning about the best CD rates currently available.
Some of the issues to consider when looking for the top CD rates are:
Is the CD FDIC Insured? One of the biggest selling points for the stability of Certificates of Deposits in the U.S.A. is that most of them under $100,000 (and in some cases more than that) are insured by the Federal Deposit Insurance Corporation. You should be sure to confirm that with the financial institution before investing in a CD with them.
How Much Do You Want to Deposit? The minimum investment, or minimum deposit, is the smallest amount of money that you must have to open the CD account. Typically, these can run from $500 to $100,000. Sometimes, but not always, CDs that have high minimum deposits will also earn the best CD interest rates.
How Long Do You Want to Invest? The “term” of the CD is the length of time that your funds are required to remain with the bank for the certificate of deposit. This is especially important, because most bank CDs will charge an early withdrawal penalty if money is withdrawn from your certificate of deposit prior to the end of the term.
What is the CD Interest Rate? Most people concentrate on the CD interest rate when comparing CD rates, and rightfully so — CD rates are very important. The CD interest rate is the amount of money that the financial institution will pay for having your money deposited in the CD account.
Our site will review CD rates in across the United States to help our readers find the top CD interest rates. Be sure to visit the site frequently, as CD rates change often and therefore we will be updating our site often.
Posted in Top CD Rates
