» CD Rates

If you are using CD accounts to maximize your savings, it is important to have an effective CD strategy. What can you do to gain the best returns from a CD account? There are quite a few different things to keep in mind. Here are some tips to follow for the best CD returns.

Short-Term Maturities

A great strategy is to focus on using CD accounts with short-term maturities. With a CD, you can transfer the money to a higher interest rate CD account once the maturity date hits. This is an effective way to make sure you are getting the best interest rates. Learning to maximize your savings on CD accounts will help you to… » Read more

The first step to smart investing with a CD (certificate of deposit) account is understanding what it is and why it is a smart choice. A CD is a type of savings account that typically requires at least $500 to open. When you deposit this money into your CD you agree to not touch it for a specific amount of time, this is known as the term of the CD. However, in exchange for not touching this money you receive a higher interest rate. This means no matter what the economy does you will receive a return on your CD investment.

However, as with any investment you make you need to know tips and tricks… » Read more

A nice place to stash your cash is in a CD. While CD accounts are nice, they can come with some nasty penalties. What is a CD penalty and what can you do to avoid them?

The Long-Term Investment

A CD is designed to be a long-term investment. If you are not keeping the money in the account as you agreed to, you will be punished. A CD is not like your standard savings account or checking account where you can pull money out freely.

CD Penalty Rules

A CD penalty is usually enforced when you withdraw money before the maturity date. If you invest the money for 5 years, you will likely get the best CD