A certificate of deposit is a simple and secure investment account that locks in your funds for a specific period of time. It might be beneficial to open a CD at least once in your life to get the guaranteed rate and yield. Both short-- and long-term CDs can offer better interest rates compared with a typical savings account.
A CD is a simple way to diversify your money so you can grow your nest egg without doing any legwork. Long-term CDs provide an excellent way to get the best rates for additional income that you don’t need to access. Jumbo CDs, however, offer higher rates for higher deposits.
GOBankingRates details the best CD rates by listing the most affordable terms from local, national and global financial institutions. GOBankingRates provides borrowing guides and comparison tips to help you can navigate the different types of CD accounts with ease.