Getting some kind of return on your money is better than nothing. And although certificate of deposit rates aren’t as high as they’ve been in the past, you can take a few steps to earn some interest on your money now and possibly be able to take advantage of higher interest rates in the future.
A CD ladder can help you do this. You can take advantage of different CD rates and terms by spreading out a large sum of cash. For example, if you have $30,000 to invest, instead of putting it in one CD, divide it up and put it in four different accounts with different CD rates and terms.
Each time a CD matures, roll the money over into another CD. Hopefully, interest rates will have improved at the point you reinvest your money in another CD.
It’s probably easiest to build a CD ladder by opening multiple accounts at a bank that offers several CD rates and terms. But you can certainly shop around to find the best rates being offered by various banks and spread your accounts around at different institutions. Just make sure any bank where you open a CD is insured by the Federal Deposit Insurance Corp. (FDIC).
- 6 Month CD %
- 1-year CD %
- 2-year CD %
- Money Market Account %
- Savings Account %
- 30-year Fixed Mortgage 3.62 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
-
If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you. Whether you work with the bank or you found a deal in the newspaper, simply click on the submit a bank deal on the right hand side and help us all out!
-
If you know of any bank deal that we haven't featured on our blog yet, we would love to hear from you.
-
Confused on what you should invest in? Let the GoTalkMoney.com community help you when it comes to investing into a CD. If you already know what you're going to invest in, please vote on the poll on the right. If you want to see the results and you don't know what to vote, simply hit "I'm Not Sure" to see the results.
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
