Are CD Accounts FDIC Insured?
When buying a certificate of deposit you should be careful of whom you are dealing with. Many amateurs get caught up with brokers, and this is not a good situation. The only people who should buy certificates of deposit from brokers are those with experience. If you are simply looking to buy a certificate of deposit you should consider doing so from a local bank. This way your money will be FDIC insured up to $100,000 in most cases. You should also know that the terms of a certificate of deposit range anywhere from one month to more than five years. You can decide on which term is best for you based on two factors. First and foremost, when will you need your money back? If you can afford to have your money tied up long term you might as well go with a long term certificate of deposit so that you can get the best interest rate. Additionally, consider the rates that are being offered on the different terms. You may find out that there is not that much of a difference between 6 and 12 mon
