Online Bank Reviews Best Banks 2011 » New Dominion Direct CD http://banktruth.org Best Banks Bank Reviews Best Rates Sat, 04 Feb 2012 11:00:09 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Get maxiumum on investments with NewDominionDIRECT.com http://banktruth.org/best-cd-rates/get-maxiumum-on-investments-with-newdominiondirect-com/ http://banktruth.org/best-cd-rates/get-maxiumum-on-investments-with-newdominiondirect-com/#comments Tue, 25 May 2010 05:14:21 +0000 AccountReviewer http://banktruth.org/?p=1022 NewDominionDIRECT.com offers two different types of CDs, the Variable Rate and Fixed Rate. Other than the names, there isn't much of a difference between the two except for the terms. The Fixed Rate CD has terms from 3 months to 5 years, while the Variable Rate only allows terms between 12 months and 30 months. However, though this may seem like a drastic difference, they both share similar characteristics. Some of these also are like the procedures of other banks. Like interest being compounded daily, but paid monthly. Also, both offer the option of renewing your CD at maturity, but if not requested, it's automatic. Another similarity between Variable and Fixed Rate

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]]> NewDominionDIRECT.com offers two different types of CDs, the Variable Rate and Fixed Rate. Other than the names, there isn’t much of a difference between the two except for the terms. The Fixed Rate CD has terms from 3 months to 5 years, while the Variable Rate only allows terms between 12 months and 30 months. However, though this may seem like a drastic difference, they both share similar characteristics. Some of these also are like the procedures of other banks. Like interest being compounded daily, but paid monthly. Also, both offer the option of renewing your CD at maturity, but if not requested, it’s automatic. Another similarity between Variable and Fixed Rate CDs is that they both require a $3,000 deposit upon opening.

The Variable Rate CD is dependent upon something, hence the name “variable.” This CD is tied to the Wall Street Journal prime rate. So, if you are a thrill seeking investor, this may be your choice. However, for those who want security and dependency no matter what, the Fixed Rate CD will work quite nicely for you. No matter what the stock markets do, the interest gained will be strong and unwavering. They are “fixed” but still offer competitive rates.

If you wish to view the different rates, and are trying to compare different banks, you can see their charts for both, Variable and Fixed. Good luck!!!

NewDominionDIRECT CDs are insured by the FDIC


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