Short-term CDs can still offer better rates than savings accounts.
If you have a little extra money to set aside, a six-month certificate of deposit can help you earn a great interest rate without locking up your money for the long term.
CDs resemble savings accounts in that you can purchase them at a local bank and they carryprotection. Unlike traditional savings accounts, however, CDs require you to lock up your money for the length of the term. In return, they generally offer you higher interest rates. Our six-month CD rate picks reflect the best available on DepositAccounts, com, which tracks roughly 275,000 rates at more than 11,000 banks and. Since six-month CDs are very popular, you can buy one at big national banks , your local hometown bank, credit unions and online banks.Financial experts think that six-month CD rates are probably at or near a peak, which means this is a good time to lock in a favorable rate if you have unallocated cash on hand.
Think of it as buying yourself time to research where and how to put that cash for the longer term, Haviland says. ”A six-month CD is going to give you the ability to realize that interest and think about what you want to do.”Laddering a portion of your cash savings gives you access to higher interest rates while keeping access to your money.entails opening multiple CDs that mature at regular, but staggered intervals.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Is Set to Thrive in October—No Matter Where Rates Go, Analyst SaysInstead, the token's performance in October could be propelled by a decision coming from the Securities and Exchange Commission next Friday.
Read more »
Your Horoscope This Week: October 8 to October 14Eclipse season is upon us.
Read more »
Vote for the Mid-Penn girls soccer player of the week for October 2-October 7High School Sports
Read more »
Vote for the Mid-Penn boys soccer player of the week for October 2-October 7High School Sports
Read more »
Irvington Businesses see major economic spike during the month of OctoberKaitlyn is an Emmy award winning anchor and Emmy nominated journalist. She joined WRTV in November of 2021 as a Multi Media Journalist.
Read more »
27 Things Reviewers Raved About Last Month October 2023They loved 'em in September, so maybe you'll love 'em in October.
Read more »