Summary: In response to the recent federal funds rate increases, U.S. Bank has increased the maximum APY for its CD Special account – now up to 4.30% APY. On December 14th, 2022, Federal Reserve officials raised the federal funds rate, for the seventh time this year. The Fed rate increased by half a percentage point, […]
Article Summary: A certificate of deposit — or CD for short — is an excellent secure, low-interest investment vehicle. In exchange for an initial deposit, a CD will typically pay higher interest rates than most savings accounts and money market accounts. However, unlike these accounts, you can’t withdraw from a CD until it matures, making […]
Article Summary: A step-up CD is a certificate of deposit that increases the APY at scheduled times until the maturity date. Because of this, most step-up CDs have a low-interest rate at the start of the term of the CD. A certificate of deposit (CD) is a low-risk investment and usually has a guaranteed return. […]
Article Summary: Zero-coupon CDs are certificates of deposit purchased at a lower price with no monthly interest payments. Instead, the investor receives the CD at face value at the maturity date. While this kind of CD can be a great investment for the right person, zero-coupon CDs also come with some downsides to keep in […]
Article Summary: Bump-up CDs are certificates of deposit that allow you to raise your annual percentage yield once within the term of the CD. While this has the potential to help you earn more interest than you would with a regular CD, knowing when to raise it could be tricky, and many banks offer a […]
Summary: Though CDs are a great option for risk-averse investors, they do offer lower returns than most investment vehicles. If you’re looking for a way to earn more from your investments, you may want to consider bonds, dividend-paying stocks, peer-to-peer lending, or real estate investments instead. However, these higher returns also come with higher risks, […]
Summary: An IRA CD is an individual retirement account that holds certificates of deposit (CDs). IRA CDs are low-risk and easy to invest in, though usually have limited earning potential. Because of this, IRA CDs are recommended for those who are close to retirement or have already retired and are looking to diversify their portfolio. […]
Article Summary: Certificates of deposit are risk-free, federally insured investment products that pay a fixed interest rate and guarantee the return of your invested funds plus interest. However, like most investment topics, effectively using CDs in your personal financial world can be complex. Before you decide to invest in a CD, you need to determine […]
Article Summary: Before purchasing certificates of deposit (CDs), CD investors should know that paying tax on CD interest earned is required by the Internal Revenue Service (IRS). How much tax, and when, you will have to pay depends on your tax bracket and how you’ve purchased the CD. But typically, if you buy CDs through […]
Article Summary: Callable CDs are an alternative to traditional CDs that typically come with higher interest rates. But callable CDs also come with more risk than other CDs. The key difference between the two is that, with a callable CD, the CD issuer can “call back” or redeem the certificate of deposit before the CD […]
Article Summary: A certificate of deposit (CD) is a solid and safe savings product that will typically garner you better interest rates than you could find with other savings tools such as a regular savings account. An add-on CD is a spin on the traditional CD, where you can continue to deposit additional funds into […]
Article Summary: CD laddering is a safe and effective way to save money and earn higher interest rates than a standard saving account. The strategy involves layering CDs that expire at different but regular intervals (i.e., annually). While this strategy helps to create increased liquidity and flexibility, there are some drawbacks to CD ladders. These […]
Article Summary: Stashing some money into certificates of deposit (CDs) is considered as safe as the cash you keep in your savings and checking accounts. Therefore, CDs are considered a very stable investment, albeit not the most lucrative investment strategy. However, when the economy is in a downturn, and the stock market isn’t performing well, […]
Article Summary: Renewing a certificate of deposit is both an intentional savings strategy and a default event. When your CD matures, you can either withdraw, reinvest, or renew. Most financial institutions will automatically renew a CD if the account holder doesn’t take action within a seven- to 10-day grace period. It’s up to you to […]
Article Summary: Opening a CD savings account is easy with SuperMoney’s resources. First, research and decide the CD strategy that best suits your financial goals. Then, use SuperMoney’s comparison tools to find the best provider with the most competitive annual percentage yield (APY). Finally, apply for and fund your CD. Online banking makes the process […]
Summary: In response to the recent federal funds rate increases, Crescent Bank has increased the maximum APY for its CD account — now up to 4.65% APY. On December 14th, 2022, Federal Reserve officials raised the federal funds rate, for the seventh time in 2022. The Fed rate increased by half a percentage point, nudging […]
If you have some savings lying around in an account, you should ask yourself, “Am I earning as much interest as I could be?” If you’re keeping your money in a savings account, the answer is usually no. Although some banks and credit unions do offer high-yield account options, a certificate of deposit (CD) will […]
Banks are notorious for sneaking in fees you didn’t even know existed. Take for example, bank teller fees, check copy fees, early account closure fees, and the grandaddy of them all, the non-sufficient fund, or NSF, fee. However, a new wave of bank transparency is sweeping the industry. Consumers are savvier than ever when it […]
If you’re considering a credit union, you are probably attracted to the low fees and competitive interest rates. One of the reasons they can afford to do so because they’re not-for-profit. Credit unions are owned by their own members, not anonymous investors. While banks use profits to pay owners and shareholders, credit unions give their […]
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