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Compare The Best CD Rates

CDs are a safe tool to use when you want to earn a higher interest rate without taking too much risk. A Certificate of Deposit or CD is a term based savings account offered by banks and insured by the FDIC.

Basically, you agree to deposit your money for a specific time period, usually at a rate higher than a savings account. When the term ends, you can withdraw your money or renew the CD. There is usually a penalty for CD withdrawals before the term ends.

When you consider the safety involved, you get the most for your money by comparing the best CD rates available. Here’s a few tips to keep in mind:

  • Your bank may not offer the best rates.
  • Make sure you check for minimum deposit requirements and early withdrawal penalties.
  • Compare the rates across different maturity terms.
  • In a rising interest rate environment you don’t want to lock money up for a long period.
  • Alternatively, when rates are falling, you want to lock in high yields for a longer term.

Currently high yield is an understatement. But with interest rates at their lowest levels in years, CDs are actually a great alternative to treasury bonds and bond funds. You get the security and safety from the FDIC, with competitive, if not higher rates than short-term treasury bonds. Depending on the CD maturity term you choose, an online savings account might be a good alternative to locking up your money too.

Find The Best CD Rates

The banks listed below offer CD accounts that are FDIC insured.

EverBankEverBank

  • $1,500 Minimum Deposit
  • Range of Maturity Terms - starting at 3 months up to 5 year terms.
  • FDIC Insured – Your deposits are FDIC-insured up to $250,000 per depositor.

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Discover BankDiscover Bank

  • $2,500 Minimum Deposit
  • Wide Range of Maturity Choices – starting at 3 months up to 10 year terms.
  • FDIC Insured – Your deposits are FDIC-insured up to $250,000 per depositor.

Open Account

Ally BankAlly Bank

  • No Minimum Deposit, No Monthly Fees
  • Wide Range of Maturity Terms - starting at 3 months up to 5 year terms.
  • Several CD Product Options – from fixed rate CDs to adjustable rate and no penalty CDs.
  • FDIC Insured – Your deposits are FDIC-insured up to $250,000 per depositor.
  • Read our Ally Bank review