"Highest CD Rates Survey by Term"
(for a $10,000 Certificate of Deposit)
It costs money to get new accounts so Banks often give you a deal if you are ready to walk out the door with a cashier's check after you close your CD.
|Also print out some of the
showing rates advertised on your bank's competing web sites so you have
proof. (Make sure the date shows on your printout so they know it
Rates and terms may change so read the fine print and make sure you get FDIC insurance!!!!
Bottom line: It never hurts to ask the teller if better rates are available when you do your homework! Make sure you read the article: Beware of Annuities
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Find the best (highest paying) CD rates from this survey. Top CD Rates: This is our latest survey of the APY interest rates paid for certificates of deposit by term followed by a list of all banks and credit unions in our database that includes but is not limited to: Citibank, BofA, Chase, Wachovia, Taunus, Wells Fargo, HSBC, US Bancorp, Suntrust, ABN, Citizens Financial, Capital One, National City, PenFed, World Savings and many more.
A Certificate of Deposit or CD is certificate from a bank stating that
the named party has a specified
sum on deposit, usually for a given period of time at a fixed rate of
interest. Often there is a penalty for early withdrawal (taking
your money out before the specified period of time.)
Rates and terms may change at any time.
listed bank for their current rates.
Warning: Banks and credit unions with high promotion rates to attract new deposits often have high early withdrawal penalties to recover the benefits should you need your money before the agreed upon term. Make sure you read the fine print before making a decision. If you think you might need some of your money before 5 years, for example, then you should consider splitting it into several CDs with multiple terms. Perhaps split the money into 5 CDs with terms of 1, 2, 3, 4 and 5 years. If you don't need the money when the 1 yr CD matures, you can roll it over into a new 5YR CD then do the same each year until you have a ladder of 5YR CDs that mature one per year.
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