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Interest rates are at an all time low, which is why it is more important that ever to shop around when you have decided to invest your hard earned money into the relative safety of a certificate of deposit (CD). CD rates will vary greatly depending on a number of factors, each of which you must weight carefully when planning out your investment strategy and long term financial goals.
You will get the highest CD rates, paying you the most interest on long term CDs. Generally speaking, the longer the time to maturity for your CD, the higher the CD rates will be. By effectively lending your bank money for a longer time, they are more inclined to reward you by offering better interest rates on your certificate of deposit. For example, a CD that reaches its maturity in 6 months may have an interest rate as low as 1.11% while a CD for the same amount that has a maturity date of 18 months may have an interest rate of 1.75%, which is a difference of approximately 47% on your return. While the difference may be negligible if you are investing a small amount of money, on larger investments, the difference is immense.
To find the best CD rates, you will have to shop around locally and on the internet. First, start looking for CDs from your local banks. Sometimes, they will have promotions in order to boost business and offer very competitive CD rates to draw in customers. Often, smaller, local banks will offer better interest rates than larger, national banks. Next, consider looking at online internet banks for CDs. These banks have very little overhead, so can pass on these savings to you by offering better CD rates than physical banks. Finally, consider buying a CD from your brokerage firm. If you have been a long time customer, you may be entitled to getting better interest rates on your CDs.
Finally, think about investing more money to get better interest rates on your CDs. Banks often offer better CD rates that are directly proportional with the amount that the customer spends on the CD. Ask your bank about how much money you need to invest to get bumped up to the next interest rate tier that is within your budget.
Finding the best CD rates can be time consuming, but the time spent on researching various banks can pay off with better returns in the future.
What else can I help you with?
Where can you find the best CD rates?
You can find the best CD rates by contacting local banks and asking them about their CD rates and comparing them all together to find the best one that meets your needs and wants.
Where can you find the best CD interest rates?
CD rates refer to Certificate of Deposit rates. To find the best CD interest rates in your area, you should should speak to a financial adviser or contact your local bank representative.
Which bank is giving the best cd rates?
Chase and Bank of America is giving the best cd rates. You can find more information at www.bestcashcow.com/bank_rates/savings.html or cdrates.bankaholic.com/category/cd-rates/
Which online banks have the highest CD interest rates?
Which online banks have the highest CD interest rates? can help you find the best current rates.
What are the highest CD rates and where can you learn more about it?
The highest CD rates can be found a banking institutions. To find the best rates on CD's in your area it is best to contact your bank and speak with a local branch representative. Alternatively, you may find the same inforamtion online.
Where can one find CD rates in CT?
The best Certificate of Deposit (CD) rates in Connecticut can be found at comparison sites such as Bank Rate, Find Rates, Find Bank Rates, and also individual bank websites such as Citizens Bank.
Where can I find the best cd rates?
The rate for bank CD's change daily. For the most up to date rates you can check online at Bankrate.com
Where can someone find comparisons of CD rates?
Comparisons of CD rates can be found on the Bankrate website. They offer high yield bank CD rates, best certificate of deposit interest rate and savings investment.
Where can I find out about a high interest CD?
There are no high CD interest rates in today's society. To get the best rates for investing in CDs, I would check some news articles or look into High-Yield CD rates.
How do I find out the most recent CD rates?
There are certainly several places you could look to find the most recent CD rates. The best place that I found online was this website. www.cdrates.org/
highest yeilding CD rates, and where?
best cd rates near 60014
How do I find the banks that offer the highest CD interest rates?
This page: http://cdrates.bankaholic.com has a handy sortable list of CD rates. It looks like Ally Bank has the best rates at the moment.
