Learn How to Get the Best CD Rates

Certificate of Deposit (also known as CD) refers to a financial product that is usually provided to clients and consumers by thrift institutions, banks as well as credit unions. Certificate deposits are more beneficial than savings accounts because the interest rates in CDs are higher than in savings accounts. Finding the best CD rates is easy with the use of the Internet. Below are the important steps and instructions that you should follow if you want to search for the best CD rates.


If you cannot access the Internet, you can get the best CD rates by visiting small banks and thrift institutions. However, to avoid experiencing problems, it is important to be sure that the bank is insured by FDIC because there is a big possibility that you lose a great amount of money if the financial institution filed for bankruptcy.

To get the best CD rates through the Internet, you need to visit some websites that provide a list of financial agencies that offer certificate of deposit accounts to consumers. One of the most efficient and reliable websites that you can visit is www.bankaholic.com. This site is very helpful because it allows you to organize the list from months to years. In addition, it allows you to arrange the list by rates, minimum deposits, lenders as well as APY.

Another website that you can check out and use if you want to find the best Certificate of Deposit rates is www.bankrate.com. The web page allows you to compare various rates in their areas. Additionally, it also offers the national average rate of CD for a particular length of time. If you are not satisfied with the results given by the websites, it is best to look at the own web pages of banks in your area. By visiting their web pages, you can easily compare the rates in your place.

Additional Tips

Always check the local newspapers since these feature special promotional rates offered by thrift institutions, credit unions and banks to consumers who want to open a CD account. You can also go to your bank and inquire about the rates that the institution offers to existing customers. Moreover, you can always check the rates offered at Internet-only finance institutions since these usually provide higher rates to clients. To avoid experiencing problems, it is best that you examine the terms and conditions attached with the CD before opening an account. Be sure that you are satisfied with the terms of service so that you will not have regrets in the future.

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