Rates Current as of Friday October 19, 2018

« Can you hold two CD accounts in different banks one as a joint account and the other in a single name?

My mom has a certificate of deposit that is coming due in a few weeks, but I can’t find her paperwork for it. Does the bank require the original certificate or documents to redeem the CD and the accrued interest? »

I am trying to decide whether to open a savings account or a CD. Which type of account is better?

There is no right answer to this question. Generally, a CD will pay a higher interest rate than a savings account. CDs have penalties for early withdrawal, which restricts access to your money. A high yield savings account will limit the amount of withdrawals that can be made each month; however, any withdrawal can be used to transfer all of your funds to either a higher yielding account or for your expenditures. If the liquidity of your funds is of greater value than the increased rate you may obtain from a longer term CD, than a savings account is the right product. If the highest rate is your main goal, more often than not, this will be found with CD. A general guide is that the longer you agree to leave a CD deposit, the higher the yield will be. Check the best CD rates with various terms to see which one may meet your goals. Whether you choose to invest in a savings account or a CD is an individual decision best made considering your need for access to the funds and the rate of return you are looking for.

This entry is filed under FAQs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

No user commented in " I am trying to decide whether to open a savings account or a CD. Which type of account is better? "

Follow-up comment rss or Leave a Trackback

Leave A Reply

Similiar Content You Might Enjoy

Best One Year CD Rate Nationwide Available at a Credit Union

The current, highest yielding one year CD rate is not available at your local bank branch. In fact, the best one year CD rate available nationwide is not available at an online bank or any FDIC insured bank. The best one year CD rate available to savers and investors in all 50 states comes from

Highest Long Term CD Rates in Virginia

The best five year CD rate in Virginia is just a hair under 5.00%. Acacia Federal Savings Bank promotes their five year CD with an interest rate of 4.90% APY. The minimum deposit to open this account is $500.00. With CD rates spiraling downwards after the most recent fed funds rate reduction, finding CD rates

When interest rates have gone up, banks seem to refuse to raising the rate on my certificates of deposit, why?

When you buy a CD, you enter into a contract involving a fixed amount of money, the principal, for a predetermined period of time, the term, and an agreed-upon interest rate and yield. The bank is simply honoring the terms of the contract; it is not obligated to change those terms when interest rates

Best CD Rate in Massachusetts, November 21, 2008

A little late with the post, this is the same ad that is running in several newspapers nationwide by Sovereign Bank. Here we find it in the November 20, 2008 issue of the Boston Globe. Sovereign Bank runs this advertisement promoting two different CD terms and a money market account. The first CD is for

CD Interest Rates for the Week Ending September 11, 2009

Bank CD rates were just modestly lower for the week ending September 11, 2009. The short term, six month CD rates took the brunt of the pain while the one year and five year CD rates held steady and the two year CD rates showed a slight loss in yield. The best six month CD rates

Banks and FDIC Insurance

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the federal government created by the Banking Act of 1933. The FDIC’s primary job is to provide deposit insurance, which guarantees the safety of checking and savings deposits in member banks. The FDIC makes sure that, if a bank is closed, all of the bank’s

Check Hold Policies

A checking account hold serves to let the bank know for sure that a deposit is legitimate. In October of 2004 Congress passed what is called Check21 legislation that allows banks to process copies of your checks, not the checks themselves. This is intended to speed up the process of clearing payments out of one

CD Rates Move Higher as Mortgage Rates and Credit Card Meander

As July started to come to a close, CD rates finally got off their perch and started to follow the higher yields of the mid and long term bond rates that we have experienced in the previous weeks and marched slightly higher. Mortgage rates experience no such delay in pricing or inelasticity and with little

Darien Rowayton Bank CT CD Rate Promotion

Darien Rowayton Bank is running a CD rate promotion through their bank branches in Darien, Rowayton, and Southport, CT. The Connecticut based bank is offering three separate promotions on their CD accounts. The odd term, CD rate promotions are available along with the bank’s standard high yield CDs. The current bank CD rates available are

Chelsea Groton Bank Routing Number

The Chelsea Groton Bank routing number is 211173357. The bank routing number for Chelsea Groton Bank of Connecticut is a nine digit number that identifies this specific financial institution for payment processing and financial transfers. Unique routing numbers are assigned to each financial institution in the U.S. Chelsea Groton Bank is an independent, mutually owned, community

Bank CD Rates in Platteville

Platteville is a city located in the southwest corner of Wisconsin. The city is home to the University of Wisconsin,Platteville. Platteville gets its name from the Platte river that runs through this community that was once populated with mostly fur traders and farmers. First National Bank of Platteville is an independent, locally owned community bank

Government Report on Re-Default Rates – It’s the Overall Level of Debt

The closing of our review found in the final paragraph sums up the analysis of this report succinctly by unmistakably concluding, the game is over and these homeowners have debt levels that are untenable. The Comptroller of the Currency discussed a report on delinquency and default rates on mortgages that have already been modified. These are

Bank Rates Tip Toe Higher to Start off the Month of August

Bank rates pushed slightly higher for the week ending August 1, 2014. Interest rates were just marginally ahead of the previous week however, rate increases were seen in almost all categories of savings rates and lending rates. Mortgage rates ended the week fractionally higher as did CD rates, savings rates, and credit card rates. While the

Bank Rates Stabilize for Last Week of June

Bank CD rates, credit card rates and mortgage rates stabilized during the last week of June following the extremely volatile activity of the week before. Credit card rates and money market rates were unchanged week over week. Bank CD interest rates were lower but by the absolutely slimmest of margins and mortgage rates retreated with

Features with your bank account to review

Comparing Services Offered Here’s a brief list of some of the general services you may be looking for in your bank. FDIC Insurance Online Bill Payment ATMs High-Interest Checking Accounts Funds Availability Schedule Debit and Credit Cards Money Market Accounts CDs Brokerage Services Mortgage Loans Convenience Overdraft Protection Express Checking Accounts Credit Cards Loan Products Telephone Banking Direct Deposit Personalized

I am concerned about banking online or even over the phone, if I bank by telephone or the internet, are my legal protections the same as when I bank in person?

Yes. The basic FDIC insurance amount applies to each separately chartered bank or savings association whether or not they internet based or not. In addition, you’re protected by the Electronic Fund Transfer Act, which governs consumer rights involving errors in the handling of electronic deposits, payments or withdrawals, and limits on consumer liability

Higher Interest Rates at Carolina Premier Bank

Carolina Premier Bank is promoting the interest rates on four key savings products offered by the bank. The bank has a passbook savings account that requires a minimum balance of only $200.00. The interest rate on the savings account is 3.00% APY. The bank is also promoting a one year CD that has a minimum

Top Midterm CD Rate with Florida Community Bank

One of the best midterm certificate of deposit rates in Florida is available through a special promotion at the state’s six largest bank. The CD rate promotion can be found at Florida Community Bank based in Weston, FL. Florida Community Bank is offering a new 18 month CD that has a rate of return well above the

Bank Rates Mixed, Everybody Wins November 12, 2012

After the election on November 6th, the consumer came out ahead for both savers and borrowers. Not because of the election results, those idiots couldn’t manage Romper Room let alone a nation. Democrats run debt through the roof, economy stays stagnant, government gets bigger, the Republicans say no to all taxes because they live in

Bank CD Rates at Capital Community Bank Utah

Capital Community Bank was founding in 1993. The bank serves Utah county residents through four full-service offices in Orem, Provo, Salem, and Pleasant Grove. The bank offers various saving and checking accounts as well as loan products including conventional business loans and small business loans. The Bank also provides consumer loans, commercial and residential real

CD Rate Updates

Ten Banks with CD Rates Ten Times the National Average Rate

A number of bank certificate of deposits currently available have yields that are well above the national average rate. But, bank CDs that are ten times the national average rate are fewer and finding these hidden financial gems takes a little bit work. Leaders among the bank CD rates that are ten times or above […]

Bank CD Rates Rising Sharply in July

The highest CD rates available in the month of July have moved higher across all account maturities. Short term CD rates have popped right along with long term rates however, the middle of the yield curve for certificates of deposit have showed the strongest performance as the month of July comes to a close. Average […]

CD Rates Move Slightly Higher After Fed Raises Rates

As expected, the Federal Reserve announced another rate increase on March 15, 2017. The reaction by bank and bond rates to the Feds rate move was somewhat fickle. While some investors are becoming increasingly worried that the long trend of lower bank rates has been reversed, the impact in the bond and interest rate markets […]

Banking & CD FAQs

How can you tell if a cashier’s check is fraudulent?

It can be very difficult for either you or your bank to tell. Your bank also may not be able to determine that the check is fraudulent when you deposit it. Rather, your bank may learn of the problem only when the check is returned unpaid by the other bank – which may

If the Federal Reserve cuts interest rates isn’t that always good?

Not necessarily, as a drop in the Federal Funds rate also affects the Prime Rate on which investments as well as debts are based. While a drop in the Prime Rate may be good for adjustable rate mortgage payers and credit card holders, interest rate sensitive investments will also be affected. If you

How much money can I deposit into a national bank?

Generally, there is no limit on deposits. However, there are FDIC limitations to the amount of funds that are insured. Deposits held in federally insured banks are insured up to at least $100,000 for each depositor by the Federal Deposit Insurance Corporation (FDIC). Coverage is higher – up to $250,000 per depositor – for funds

I want to open a new account. What type of identification do I have to present to the bank?

Financial institutions are required by law to have a Customer Identification Program for the creation of new accounts. A new account may include, but is not limited to, a deposit account, an extension of credit, or the rental of a safe deposit box. The minimum information that a bank must obtain when opening

Best Rates on CDs

Best Interest Checking Account Rates

Discover Bank IRA CD Rates

Emigrant Direct

Sallie Mae Savings

Bank Deals

Checking Account Promotions

Chase Bank Promotions

Citibank Promotion

Online Checking Accounts

Roth IRA Accounts

Best Credit Card Rates

Business Credit Cards
Low Interest Rate Credit Cards
Credit Cards for Bad Credit

Chase Bank Credit Cards
Credit and Credit Score Information

Personal Checking Account

Bank Certificates of Deposit

Compare Savings Accounts
Setting Up a Bank Account
Online Bank Services
Bank Information

Open a Bank Account
Bank Money Markets

Bank IRA Accounts

Mobile Banking Online Banking

CD Ladder

CD Loan

Bank Customer Service

Bank Fees

Best Checking Accounts

Senior Checking Account

Car Loan Rate

Business Checking

Online Brokers

----------Calculators ---------

CD Interest Calculator
CD Rate Calculator
Savings Account Calculator
Compound Interest Calculator
Mortgage Payment Calculator
FHA Mortgage Calculator

About Us | Contact Us | Privacy Policy | © 2013 SelectCDrates.com All Rights Reserved.