Certificate of Deposit Rates

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Finding the best Certificate of Deposit rates can ensure that your savings are providing a good return on your investment while also giving you more safety and peace-of-mind than more volatile investments, such as stocks.
Read more below.

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Discovering how Certificate of Deposit rates are determined, and how you should go about getting yourself the best Certificate of Deposit rates can be incredibly helpful as you look around.

When searching for Certificate of Deposit rates, it's best to keep the following factors in mind:

  • Your deposit amount.
  • The length (or duration) of the Certificate of Deposit.
  • What the current interest rates are.

The Amount

A "jumbo" CD, generally consisting of a deposit of $100,000 or more, will frequently receive a higher rate. Some banks, looking to get new Certificates of Deposit in their account, may offer a higher rate as part of a promotion.

The Duration

Certificate of Deposit rates can vary based on the duration - you can have your money in one for as little as three months or as long as five years or more. Check the rates when you're looking to deposit. Remember: Most banks charge a penalty for early withdrawal of funds.

Interest Rates

If you see that interest rates are rising, Certificate of Deposit rates will often follow suit. If the prognosis is that interest rates are going to fall, you might not receive as high a rate on your Certificate of Deposit for a longer duration.

MoneyAisle: Find Great Certificate of Deposit Rates

One way to find great Certificate of Deposit rates is through MoneyAisle's unique reverse auction system: banks bid against each other to get you the best Certificate of Deposit rate available in our system at the time of the auction for your individual deposit. It's free to try, and there are no fees attached to running an auction. You even have the option of accepting or declining the winning bid after you've run the auction. Try it out and see our great Certificate of Deposit rates for yourself.

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