Loan


What Are the Best CD Rates Today?

However, it might not be the case when you factor in some high-yield savings accounts online, which I’ll return to later in this article.

Cons

What Are the Best CD Rates Today?

CDs aren’t known for their high yields...

If you’re looking for a place to stash your money for a longer period of time than a regular checking or savings account, you may have investigated a certificate of deposit, or CD...
All of these CDs mature at the same time, but you still had access to at least a portion of your money until the last year.

Alternatives to CDs

If you’re not quite sold on CDs, there are some other low-risk alternatives that might be a better fit — some more liquid than CDs, and some less so.

High- Yield Savings Accounts

A high-yield savings account offers a beefier interest rate than the paltry national savings account average, which is 0.09% in August 2015, according to Bankrate...
That makes these accounts a better pick for any money you need to be able to withdraw quickly and penalty-free, such as an emergency fund.

Of course, if you opt for a high-yield CD online or open one with a higher balance or longer term, a CD can still beat these accounts when it comes to APY...
Though very low-risk, CDs probably aren’t the best way to grow money in a retirement account because the return will be very low.

Pros and Cons of CDs

Now that you know some of the basics, are you wondering whether a CD is for you? Here are some of the advantages and disadvantages of CDs to help you decide:

Pros

Best Checking Account Promotions

To get a new clientele, many banks offer checking account promotions available for those opening an account with them...
Some banks offer refunds on the fees charged by other banks’ ATMs, ensuring that you use any ATM across the country with no fees at all
  • No sign-up charges and free monthly maintenance
  • If your balance is maintained on the level of about $1,000 for a certain time, you can also get a bonus in the amount of $50 or $100
  • Special gifts and presents are also part of checking account offers in many banks...


    There are several types of checking account offers: