A CD (certificate of deposit) is a like a locked piggy bank that pays a consistent return. If you have savings that you know you’re not going to spend until a future date, a CD is a good alternative to a high-yield savings account. Generally, the longer you keep your […]
Interest rates on savings accounts and certificates of deposit (CDs) closely follow the Federal funds rate. Now might be a good time to open a CD and lock in a fixed interest rate to grow your savings, if you can part ways with your money for at least a year […]
Certificates of deposit offer better interest rates than traditional savings accounts, but you have to lock your funds away for a period of time. With interest rates expected to go down, opening a CD today can lock in your rates for months or years at today’s rates. Unlike stocks and […]
Author Sarah Li Cain and her husband were saving for a down payment on their house, and had to decide: Where should they keep their savings? Knowing they’d need the money in the near future, they looked at putting the cash in a certificate of deposit (CD), an interest-yielding FDIC-insured […]
A CD is an FDIC-insured savings instrument that provides a safe, secure option to store savings you need in the future. While money you put in a CD grows with a fixed interest rate, you can’t take your money out before the term ends without paying a penalty. For that […]
Experts say the best place to save money is somewhere it can earn interest. Certificates of deposit, or CDs, are a type of FDIC-insured savings account with a fixed interest rate and term. A CD comes with a specific term length, from three months to five years, in which the […]
In the mid-90s, Columbia House and the BMG Music Service offered unbelievable deals on CDs. People joined these clubs for a penny and got a bunch of music almost for free as long as they promised to buy a certain amount of music at regular club prices. The offer represented […]
It’s been more than 15 years since the heyday of CD sales. But the shiny little discs still have their devotees. As this chart by Statista shows, millions of people continue to purchase CDs ever year. Given that the sound quality of CDs is superior to streaming services like Spotify […]
