How Do You Find The FDIC-Insured Highest CD Rates?
The Federal Deposit Insurance Corp., a branch of the federal government, insures a variety of domestic financial instruments, among them certificates of deposit (CDs) offered by many qualifying U.S. banks. You invest in a FDIC-insured CD for a given amount and a minimum length of time. In return, you receive an agreed-upon interest rate. If the bank fails, the FDIC makes good your loss up to a maximum of $250,000 per account. Before you can find the highest rate of return on your money, you need to decide how much money you want to invest and how long you want to invest it. Bankrate.com, one of many online sites where you can find information about CD rates at various banks, gives ratings and interest rates in each of eight different groups: three-month CDs (meaning you can take back your principal without a penalty after three months); six-month CDs; one-, two- and five-year CDs; and one-, three- and five-year jumbo CDs, which require a minimum $100,000 deposit. The rates of return fo
