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Getting the Highest Rates on Certificate of Deposit Accounts

Getting the Highest Rates on Certificate of Deposit Accounts

These days getting the highest rates on deposit accounts like certificates of deposit or savings accounts can be done with very little effort. Considering how low interest rates are right now every hundredth of a percent counts you need to find the best rates! Certificates of deposit still offer you a risk-free investment, the down side to having absolutely no risk is your return is lower. Current 1 year CD rates are low as 0.25 percent and as higher as 1.30 percent.

There are banks and credit unions that offer higher rates than 1.30 percent on 12 month CDs but they usually require you either have a loan with the institution or some other kind of relationship.

For most retirees, trying to preserve capital with no risk investments while earning some kind of return on their investments, current rates are making it hard and harder to do so.

With rates so low right now it is more important than ever to get the highest return possible on your CD investment while preserving your capital. Of course getting the highest return requires finding the best CD rates at banks and credit unions.

Another option are brokered CDs but those have some risk to your principal if you need to liquidate your holdings before the CD term ends. Unlike a traditional certificate of deposit at a bank or a share certificate at a credit union where you're interested earned is the only you can lose.

With a brokered CD if you need to liquidate the financial product you need to try and sell it in the market which means you can get less than you paid for it. In addition, brokered CD rates are lower than regular CD rates or jumbo CD rates.

Therefore, i recommend sticking with a time deposit product from a bank or a credit union. Finding the highest CD rates at banks and CD rates at credit unions can be done by using your search comparison tool. With this tool that ratesorama.com offers you can find the best rates. Investors like you can also contact us to get certificate of deposit information and a list of rates.

Author: Robert Till
April 17th, 2011