Certificates of Deposits
CD (Certificate of Deposit) is an FDIC insured investment. CDs are similar to savings account in that they are insured and thus virtually risk-free; they are "money in the bank." The main difference is that a savings account allows you to make withdrawals from your account, while with a CD you receive the higher interest rate simply for keeping your money in the bank.
- Minimum opening balance $1,000.00
- Various terms available
- Higher interest rate than regular savings account
- May automatically renew or cash in during 10-day grace period
- Interest earned may be paid in various ways
- A penalty may be imposed for early withdrawal
- Fees may reduce earnings on the account
- Investment is FDIC insured
- Get Certificate of Deposit Interest Rates
- More than a savings but safer than the market