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Are annuities a better investment than Certificates of Deposit?
Annuities may be a better investment than a Certificate of Deposit. The interest rate paid on an annuity is typcially higher than that paid on a Certificate of Deposit (CD). However a Certificate of Deposit is easier to set up - just visit your local bank. When the time comes to cash out a CD is also easier to close.
What the the advantages and disadvantages of a certificate of deposit?
Certificates of deposit are a good idea because they are a high interest deposit and offer a higher interest rate than a savings account and treasury bills and notes.
Where can one find a certificate of deposit CD?
A certificate of deposit (CD) can be found at most banks. CD's have different yield rates. Ally Bank, GE Capital Retail Bank and Third Federal have higher yield rates than others.
Can you lose money in a certificate of deposit (CD)?
Yes, it is possible to lose money in a certificate of deposit (CD) if you withdraw your funds before the maturity date and incur penalties or if the interest rate is lower than inflation, resulting in a decrease in purchasing power.
Can you lose money on a certificate of deposit (CD)?
Yes, it is possible to lose money on a certificate of deposit (CD) if you withdraw your funds before the maturity date and incur penalties or if the interest rate is lower than inflation, resulting in a decrease in purchasing power.
How is interest earned on a certificate of deposit (CD)?
Interest on a certificate of deposit (CD) is earned through the bank paying you a fixed rate of interest on the money you deposit for a set period of time. The interest is typically higher than a regular savings account because you agree to keep your money in the CD for a specific term.
Advantages of a certificate of deposit?
They offer higher interest rates than normal savings accounts. You can also take advantage of their different maturity dates and create a CD Ladder to increase your liquidity and earn more interest. Here's an article explaining CD Laddering. It's actually very simple:http://www.ehow.com/how_5416449_make-money-certificate-deposit-laddering.html
What is the difference between a savings account and a certificate of deposit?
In a regular savings account, the funds are always available for withdrawl. As a result, savings accounts generally have a low rate of interest. A certificate of deposit is an investment for a specific amount of time. The funds are not available until the certificate has matured, therefore, it has a slightly higher rate of interest than a savings account.
What are the advantages and disadvantages of a certificate of deposit?
One disadvantage of a Certificate of Deposit is that the money is there, but the customer cannot use it. If the money is drawn out earlier than the due date, monetary penalties will be assessed and the customer will actually lose money.
What is a cerficate of deposit?
According to http://en.wikipedia.org/wiki/Certificate_of_deposit a certificate of deposit is money deposited for an agreed upon amount of time that generally pays better interest rates than a regular savings account.
What is a certificate of deposit?
When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.
Can you use a different first name than the one on your birth certificate?
if you legally change your name, then yes. go to your county's courthouse or website for more information on how to LEGALLY change your name.
