What are the Best Certificate of Deposit Rates?
June 30, 2010 2:00 pm FinanceMax has decided that he wants to put away some money for retirement. He goes to his local bank or credit union and wants to put that money into a CD, or a certificate of deposit. Before he decides where to invest his money, he needs to consider the certificate of deposit rates, which vary by institution. He wants to know if the lender has a minimum deposit, such as $1,000. Max has to decide how long he wants to keep the money in the CD; a lender can hold the CD for a three month, six month or five year period. Max also needs to know if there is a penalty for taking his money out early. When the CD matures, Max will get the interest that accrued on the principal. A CD is not for everyone, but it is a safe investment if you don’t want to invest in the stock market.
