How Do You Buy A Certificate Of Deposit With A Great Rate?
Certificate of Deposits or CDs are an easy way to start saving for a future project, like buying a house. They are also a good start for a child’s first saving account. Some people like CDs because they are insured. In the past only banks used to offer CDs, today many financial institutions offer them to their clients. These are ideas on how to buy a Certificate of Deposit with the best rate. Step 1 Is a CD the right saving vehicle Decide if a Certificate of Deposit serves your saving needs. Generally, CDs are insured by the FDIC and don’t have a required minimum amount. They have a maturity schedule; you will pay a fee if the CD is redeemed early. CDs rates may be better than checking or saving account’s rate. Most financial institutions can sell certificate of deposits. Step 2 Shop around for CDs Shop around on the internet for the best CD rates. Use a free CD rate comparisons service. These services offer a list of financial institutions with the rates paid on CDs. Review the rates,
