Best CD Accounts
Make the most out from your savings opening a CD account today
A CD (or certificate deposit) account is savings account that is insured by the federal government. CD accounts could be a low-risk investment for your savings as they usually offer a higher interest rate if you are willing to commit to a fixed term.
What is a CD Account?
In other types of savings accounts, you are free to withdraw or deposit money at your convenience, while inn CD accounts you agree to leave money for a set period of time. You can still access the funds, however you may have to pay a fee to do so before the end of the agreed period. The period of time you agree to leave money in a CD account can vary, it can go for as little as 3 months to as much as 5 years. As a general rule, the more money you deposit and the longer you deposit it for, the higher interest rate the bank will offer you.
CD accounts are a good way of making money out from savings if you don’t need access to your funds with a very low risk.
What Do You Need to Open a CD Account?
After you have identified the best account as well as the institution, choose the term (how long you want to leave the money in the account for) and how often you may want to receive interest on your savings (this may vary between accounts and institutions). Now you can proceed with opening your account and deposit the funds. And start getting money back in interest for your savings.
How Do you Choose the Best CD Account?
Read About CD Accounts
Do you need more information on CD accounts to get started with one? Learn more about this type of savings account.