answersLogoWhite

0

  1. You can go to any bank and request their CD rates. They will give you a list of interest rates cross referenced with the amount of deposit and the term. In general the more you invest in a Bank CD and the longer you agree to leave it in the bank, the higher the interest rate. Another important element of a Bank CD is the frequency of compounding. This is how often interest is paid. The more frequent interest is paid, the greater the amount of money that earns interest.
  2. Bank CD YieldsComparing Bank CDs
  3. You will often see a Bank CD yield listed next to a Bank CD interest rate. The interest rate is the percentage the Bank CD pays. The yield is the amount the Bank CD actually earns. They are different because of interest compounding. Every time interest is paid, the size of the account grows. When interest is calculated again it is on a slightly larger amount resulting in slightly more earned than the interest rate. The more frequent interest is compounded, the higher the yield. Penalties for Withdrawing from a Bank CD
  4. Bank CD interest rates vary from bank to bank and state to state. Some rates may not be available to you depending on where you live. Many smaller banks offer better rates than the big banking companies as a way to build their assets. It pays to shop around when investing in Bank CDs. All Bank CDs are FDIC insured up to $100,000.00 per person per bank. When a Bank CD Matures
  5. A Bank CD has a maturity date. If you decide to break your agreement with the bank and withdraw your money before the maturity date you will be penalized. Usually this means you must forfeit some or all of the interest you earned up to that point. Be sure to read all the details of your bank CD agreement before you invest.
  6. When a Bank CD matures, you are paid all the interest owed to you. Sometimes the bank informs you that your CD matured. Sometimes they don't. Either way it is up to you to go to the bank and withdraw your money. Many Bank CDs automatically renew themselves if the owner does not take action within a period of time after maturity. If you miss this grace period you may find your money tied up with a new maturity date. Be sure you understand what will happen to your Bank CD upon maturity and take action within the grace period.
eHow writer - Kent Ninomiya
User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

How do I go about opening a bank CD?

In the process of opening a CD bank account, Search "How do i open a bank CD?" into any of the common search engines.


How can I purchase a CD from a bank?

To purchase a CD from a bank, you can visit a branch or contact the bank online or by phone to inquire about their CD options. You will need to provide your personal information and the amount you wish to invest in the CD. The bank will then help you open the CD account and deposit the funds.


How should you liquidate a bank CD?

You should visit the bank where you opened the CD and carry the CD document that they gave you when you opened the deposit. You need to submit this with a customer service officer in the bank and request to liquidate it. The bank will ask you the details of the bank account into which the funds need to be deposited and once you provide that, the bank will close/liquidate your CD and deposit the money into your bank account


Can I open a CD in any bank in Detroit, MI?

You open a 9 month CD at 5/3 CD in any bank in Detroit


Can you cash a matured CD at any bank?

No. A Matured CD can be cashed only at the bank branch that issued the CD. Let's say you opened a CD with Bank of America in New York, you need to take the CD certificate to a bank of America branch in New York to cash it. If you take it to Chase bank in New York, they won't be able to help you because the money is with bank of America and chase bank wouldn't pay you for depositing money with another bank.


Where can I find a good bank CD?

Try Bank of America, they have good CD rates for new customers.


What are cdrates?

CD rates are the interest rates you earn on your CD deposit. The rates can vary from bank to bank.


Where are the highest CD rates in Houston Rates CD rates amergy bank Houston?

A CD with a maturity date of 5 years is currently paying 2.45% interest at the Bank of Houston. This is the highest yielding CD offered by the bank.


What is the best bank cd interest rate offered in Detroit, MI?

"Huntington" IS THE BEST BANK CD INTEREST RATE OFFERED IN DETROIT WHICH CANNOT BE COMPARED WITH THE OTHER BANK CD RATES


What bank pays the highest cd interest rates?

Bank of America offers the highest CD rates in the industry.


Which banks have the best jumbo CD rates?

The following banks have the best jumbo CD rates: City bank, Ally bank, Nationwide bank, Ever bank, Bank of internet USA, Discover bank and Doral Bank.


Will a bank have the best certificate of deposit rates?

Try www.BestOnlineCDRates.com to compare CD rates in your area. This site, www.bargaineering.com/articles/bank-cd-rates.html, claims to have the most current and competetive CD bank rates throughout the country. Depending on the bank, they usually do have the best CD rates. You can compare rates on www.bankrate.com.