Q:

How do you compare CD interest rates to find the highest ones?

A:

Quick Answer

Visit the Bankrate website to access a chart that compares interest rates on certificates of deposit. Review associated interest rate data to determine the highest rates as well as relevant charts and graphs that illustrate potential investments.

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Full Answer

Several banks and loan agencies offer certificates of deposit, lists the Bankrate website. Each financial organization has an associated interest rate and minimum deposit requirement. The Bankrate website displays charts associated with this data, and users can compare to find the highest annual percentage rate. Users can modify the charts for a specific period to view the associated rates. Bankrate also offers a basic analysis that discusses the average certificate of deposit rates and yields. Visitors can also find additional tools and calculators to analyze different rates and offers.

Certificate of deposit accounts offer investors an opportunity to securely save money in an account insured by the government, reports the Houston Chronicle. Investors that utilize a certificate of deposit agree to deposit the funds without access for a certain time period. Any attempt to withdraw the funds before the maturity date results in several fees and penalties. Certificates of deposit are available for periods as low as a few months but can be as high as several years. The Federal Deposit Insurance Corporation insures the balances in a certificate of deposit account.

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