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The 3 Month CD Rates for you

08.23.2009 · Posted in Loans Articles

The next best thing to a normal savings account is a savings certificate or a certificate of deposit or CD as it is popularly known. CDs definitely earn you a lot more money than you would in a savings account. When you sign up for a CD you agree to leave your money with the bank for a certain period of time and you are paid a certain percentage of interest for that specified time period. If you need your money back pretty soon then you might decide to opt for the 3 month CD rates. If you have to withdraw your money sooner than the maturity period is due, then it will attract a penalty and you will have to forfeit some of the interest your CD would have earned for you. So if you feel the need for money may arise soon enough it is better to go in for the 3 month CD option.rnrnBut before you decide which of the U.S. bank CD rates you should opt for you should do a comparison and see which ones suit your needs best. When you are comparing the different US bank CD rates you should first find out what the minimum deposit amount is like. Some banks might expect you to put in a minimum amount which is quite affordable even for first timers but other banks might expect too much from the customer. Each bank has the 3 month CD rates, 6 month CD rates, twelve month CD rates and others extending up to five years. Basically, investment in a 3 month CD may not give you the best of returns but then it is a better option rather than leave your money in a savings account till such time as when you need to use it. rnrnNormally, the longer your maturity period is and the bigger the sum of money that is invested the higher are the returns. So you should choose from the 3 month CD rates, 6 month CD rates, 1 year CD rates, 2 year CD rates, 3 year CD rates, 4 year CD rates and 5 year CD rates as per your needs. If you want your back soon then you had better invest in the 3 month CD as if you invest in the longer period CDs and find that you are in need of money before the maturity period ends then you will lose some of the interest that you would have earned.rnrnAlthough it doesn

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