CDs

How Risky Are Certificates of Deposit?

When you're talking about financial products, “risk” essentially means that you might lose money or simply miss opportunities to make money. With that in mind, certificates of deposit (CDs) are considered low-risk, but they aren't risk-free, according to Robert Schmansky, an independent certified financial planner in Royal Oak, Michigan. He explains, “It comes down to […]

CDs

Are There Any Drawbacks to Certificates of Deposit?

Saving money for the future is always a good idea, but there are some things you should consider before opening a certificate of deposit (CD). A CD from an FDIC-member bank like Ally Bank is one of the best ways to save money for the future. Your money is insured up to the maximum allowed […]

CDs

Why CDs?

As part of an overall savings plan, certificates of deposit (CDs) can be the foundation of a low-risk strategy to reach both long- and short-term goals. Simply put, CDs are savings products, not investments, although they can help you build your net worth. Sometimes people will refer to "CD returns" as a way to describe […]

CDs

Get the Facts Before Changing Your CD Strategies

A certificate of deposit (CD) can be a good basic savings product. CDs usually offer higher rates than money market or savings accounts. And because you may be charged a penalty if you withdraw funds before a CD matures, there is an added incentive to leave the deposit where it is and allow your funds […]

CDs

Pros and Cons of Certificates of Deposit

Considering a certificate of deposit (CD)as a savings option? As with any financial decision, you should weigh the pros and cons of CDs before you open an account. A CD is an easy, sensible way of saving money and earning interest. You'll find CD products at banks or credit unions. Online banks often offer some […]

CDs

CD Withdrawal Penalty

When you open a CD, you agree that you will not withdraw the funds until the maturity date, which varies from a few months to several years after you open the account, depending on the term you choose. If you decide to withdraw the money before the term is up (maturity), you may have to […]

CDs

When to Try a CD Account

If you're looking for places to put your savings, you've probably come across a variety of products that potentially could meet your needs. A certificate of deposit (CD), savings account, or money market account each has the ability to be a saver's best friend. But how do you know which one is best for you? […]

CDs

Reach Your Financial Goals With a CD

If you're looking for a safe way to help your savings grow, you might consider certificates of deposit (CDs). This type of savings product can help you stay on top of your saving goals. When you open a CD at a member-FDIC bank, like Ally Bank, your deposits are insured up to the maximum amount […]

CDs

Moving Into the Security of Certificates of Deposit (CDs)

Stocks, mutual funds and 401(k) accounts are great ways to save for your long-term financial goals. But as your future plans inch increasingly closer, certificates of deposit (CDs) can provide a secure place, away from market fluctuations, to hold money for a specific purpose that will be used at a specific time. Other life events […]

CDs

Is Managing Your Money Not Your Passion? CDs Provide “Set-It-And-Forget-It” Convenience.

What if you don't have the time or interest to devote to daily or even weekly management of your money, but still want a decent return? You might look into certificate of deposit (CD) interest rates. Certificate of deposit interest rates are secure—and so is your principal. CDs offer a low-risk way to balance your […]