Where To Find The Best Cd Bank Rates Online?
Latest ways to help you find safe, high-yield investments with Online Bank CDs.
What Are CDs?
As an investor in Certificates of Deposit (CDs), you may wonder whether it is safe to invest in a CD online, without being able to speak to a banker face-to-face. However, as long as the CD you choose is FDIC insured – most are – your money is perfectly safe. Interest rates among online CDs varies from 0.50% up to as much as 3.44% for a 5-year CD (as of 10/27/2009). “Jumbo” CDs usually require a minimum deposit of $100,000, and sometimes have higher interest, but not always. The term of a CD tells you when it has matured – when you can withdraw your original investment with interest accrued.
Why Buy Online CDs?
CDs are a very conservative investment, popular among investors who want to lower their exposure to risk. Researching and buying CDs online is a smart move if you want to get the best rate of return. This allows you to compare CD rates from banks across the country. It also allows you to easily “ladder” CDs from different banks in order to get the best set of rates on 3, 6, and 12-month CDs that you can then roll over into 12-month or longer CDs. This allows you to ensure that funds will be available quarterly for any sudden or planned financial need.
How Do I Find The Right Online CD For Me?
The easiest way to comparison shop for CDs is through bankaholic.com’s CD rate comparison chart (http://cdrates.bankaholic.com) which will allow you to see the term of investment, interest rate, bank location, and minimum deposit of the top 25 CDs in each term category (e.g. 3 month, 9 month jumbo, 1 year, etc.). Some banks that end up in the top tier in all categories are: Aurora Bank FSB, State Bank of India, and Ally Bank.
Related posts
- What To Be Aware Of With CD Rates
- How do I Purchase a Certificate of Deposit?
- A Guide To Finding The Highest CD Rates
- How Do They Compute CD Interest Rates?
- How Do I Find The Highest Cd Rates?
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