CD Rates

A CD or Certificate of Deposit usually comes with higher rates than you can find in a savings account. The trade off is that your money is locked in the account for the agreed upon time period in order to get the highest rates. To get a higher rate on your CD you can take a look at jumbo CD rates which offer higher rates for more money (typically $100,000 or more).

If you need to withdraw your money early, you’ll typically be fined an early withdrawal penalty. CDs should be part of everyone’s investment strategy, but you should only put in funds that you know you won’t need in the allotted time period. Make sure you compare CD rates from the top banks to make sure you get the best rate possible. Here are a list of the best CD rates grouped by certificate of deposit term:

3-18 Month Short Term CD Rates
2-7 Year Long Term CDs

Interest rates have been dropping for some time now on banking products. Savings rates and bank CD rates alike have taken a hit, but certificates of deposit continue to be a very important financial tool. Certificate of deposits offer a locked in rate and the insurance of the FDIC. CDs have many uses including a role in most people’s retirement savings portfolios, especially for those who are close to retirement. To help you with your financial plans we have compiled the best CD rates available on this page. If you’d like outside information why not read up on what the FDIC has to say about it in their article: click here. IRA CD rates are also available to be opened for retirement accounts.

Unlike investing in the stock market, a CD will always have a constant return on investment. If you need even more reason to want to take out a CD how about this. A CD is insured by the FDIC for $250,000. You can’t get that kind of safety in the stock market.

Since CDs are so safe, they don’t have the highest potential return that some other investments have. So how do you ensure you’re getting the most of of your CD rate?

The best way is to shop around for the best rates every time your CD expires. Don’t just stay with the same bank, see what else it out there when your CD matures. You can use our savings calculator to find out how much you’ll end up banking from your CD.

You should check around locally for CD deals, but you’ll usually find the best rates online. Online banks usually offer very competitive CD rates because they have so little overhead costs. They pass these savings on directly to the customer.

You should always make sure that the institution you’re keeping your money with is FDIC insured. If it’s a credit union offering a good CD rate, then their insurer is the NCUA.

Bromoney is the best source for high interest CD rates, savings rates, credit cards, checking account rates, and money market accounts. Bromoney searches for the newest bank rates everyday and updates their rates accordingly.

Before depositing your money with a bank, make sure they’re FDIC insured, and make sure they’re not in financial trouble. You can check out Bromoney’s review of the bank to find out how sound the institution is before placing your money in their care. You can use the FDIC’s bank find here feature to search for FDIC insured banks.

You can also use the FDIC’s bank find to do some extra research. Often a smaller bank will be one arm of a larger banking network. The FDIC will let you know if this is the case.

Always check for the best rates when investing in a certificate of deposit and always do your due diligence.

CD Rates