A Certificate of Deposit, or CD is similar to a savings account in that it earns interest, but different in that you can set a length of time (anywhere from 3 months to 5 years) that you will not touch your savings. The reason you may choose this option is that banks typically offer higher interest rates because they know you are not going to withdraw the money. Banks can then loan your money out, and pay you a higher Bank Rate to allow you to earn even more money.
Most investing options do not require a strong credit score to become an investor. However, there are a few who do, particularly high interest rate savings accounts. Even if they do not require a credit check, it is a good idea to always remain on top of your credit.
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| Featured Rate | Bank / Credit Union | Account Type | |
|---|---|---|---|
1.90% As of July 23, 2010 |  View Rate Details |  Discover Bank | CD Account |
| Highest Rates Recent Rate Changes | |||
| Best Rates (APY) | Bank / Credit Union | Account Type | |
1.66% As of July 30, 2010 | View Rate Details | 360 Credit Union | CD Account |
| Bank / Account Type | Rate Change | Date | |
|---|---|---|---|
The most difficult, and important, decision to make when investing your hard-earned money is which type of investment account should you choose. Certificate of deposits mature at a fixed rate on a fixed length of time, so you know what you’re getting up front. Mutual Funds may give a higher return, but are risky because they rely on the success of the stock market and the choices of the firm doing the investing on your behalf. Be sure to do your research on Cummington Banking Rates before you decide.
Common types of investment income accounts:
No matter what type of investment you decide to make, or even if you’re just seeking more information to help you make the right decision, Cummington Banking Rates can help make that decision easier.
Submit your information today to learn more and see available rates for CD rates and investments.
Your Cummington neighbors do not know your true identity as the “millionaire next door,” but because of your shrewd financial acumen you have amassed a fortune over our lifetime.
Part of your savings success has been living within your means, making only frugal purchases and diversifying your investment portfolio with a whole slew of investment instruments including a ladder composed of the the best CD rates Cummington has to offer.
If you want to continue on your path and keep your true identity a secret, Cummington Banking Rates will provide you with all the necessary financial information you need from the comfort of your own couch. For you having money provides you with a sense of security and by properly diversifying your portfolio with high yielding bond rates, you will be extremely secure.
Cummington Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.
Many local Cummington credit unions offer competitive CD rates, money market accounts and IRAs, as do the larger national banks. If you want to get the highest interest rates, be sure to thoroughly research banks with the best offers before you make your decision. Cummington Banking Rates has relationships with many banks to maximize the potential of finding the best rates.
A clear advantage of investing in CD‘s is that CD Rates are fixed, meaning you lock in an interest rate for the entire term of the CD, and it does not change. When interest rates are dropping, your CD stays at a higher rate. If you money is in a savings account, or interest paying checking account, your interest rate will drop daily, if rate are falling. Learn from Cummington Banking Rate partners if rates are falling or rising, and make the right choice to earn more money.
Check Rates in These Cities Near Cummington: | Serving the Following Cummington Zip Codes: | |||||||||||||||
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| 01026 |
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