Depositors are usually the people who decide when to withdraw their funds from their bank or credit union. But with a Callable (CD), it’s the financial institution that tells you when it is time to take your money and go home. What Is a Callable CD? A Callable CD is a type of certificate of …
Callable CDs: What You Need to Know Before Opening Read More »
As some of you may be nearing retirement, you’re thinking about maximizing your retirement funds in the home stretch. IRAs (individual retirement accounts) are a great strategy for your retirement savings and with the current state of CD interest rates (4.50% and above) placing your IRA funds in a CD (Certificate of Deposit) allows you to earn …
Don’t Wait to Lock in or Contribute More to an IRA CD Before April Read More »
In light of the Federal Reserve’s recent interest rate cuts by decreasing the upper range from 4.75% to 4.50%, in December 2024, this may be an opportune time for retirement account holders to reconsider moving their required minimum distribution (RMD) in 2025 into Certificates of Deposit (CDs). Financial institutions are offering competitive CD rates and …
Protect and Grow Your RMD: How CDs Can Safeguard Your Retirement Savings Read More »
In a time when financial decisions can impact personal finances and community well-being, choosing where to open a certificate of deposit (CD) can be a significant opportunity. One option that stands out for its dual benefits of financial returns and social impact is a CD with a Community Development Financial Institution (CDFI). What is a …
Savers are no strangers to the growing number of fake high-yield CDs offered by scammers. The criminals are getting more savvy at making fake CDs seem legitimate and using them to steal personal and financial information. This makes it more difficult for consumers to decipher whether they’re being tricked or if they’ve found a legitimate …
Don’t Get Had with These Certificates of Deposit Scams Read More »
You’re ready to open a certificate of deposit (CD) now that you’ve found the rate and term that align with your savings goals. But there’s one more thing to consider, ownership. Most banks and credit unions offer FDIC and NCUA insurance on deposit accounts up to $250,000 per depositor based on the ownership of …
Certificates of deposit (CD) are a savings tool that usually offers higher interest rates than traditional savings accounts. CDs are low-risk and have fixed rates and terms that can provide predictable returns at maturity. What to Consider When Shopping for a CD Considering your savings goals will help determine what rate, term, and type of …
What to Consider and What You’ll Need to Open a CD Read More »
Certificates of deposit (CDs) and high-yield savings accounts are generally a great place to store excess cash while earning more with higher-than-average interest rates. But what truly differentiates the two is how the interest rate is set and the accessibility of your cash. What is a CD? A CD is a low-risk account that offers …
CDs vs. High-Yield Savings: What’s the Difference If They Both Offer Competitive Rates Read More »
Certificates of deposit are a safe way to invest your money while earning more with interest rates that are generally higher than your traditional savings account. CDs typically have a fixed-term length and fixed-term rate, with a minimum deposit required to open the account. But there is a catch. When you open a CD, you …
What Is a CD Early Withdrawal Penalty and How Do I Avoid It? Read More »
Government-backed deposit insurance protects money in deposit accounts in the unlikely event that a bank or credit union fails. Banks are insured by the Federal Deposit Insurance Corporation (FDIC), while credit unions are insured by the National Credit Union Administration (NCUA). What is the FDIC? In response to many Americans who lost their life savings …
FDIC vs. NCUA: What’s the Difference and Is One Potentially Better Than the Other? Read More »
