CD stands for certificate of deposit. It's basically a type of fixed-term savings account with a bank or credit society. In return for depositing your money for a predetermined term, the bank promise to pay you
LATEST BANKING ADVICE Banking Advice Is This the End of Paper Checks? ByGreg GarrisonJune 9, 2025 Credit After Trump signed an executive order ending the federal use of paper checks, experts were relieved. SEE ALL BANKING ADVICE»
You’ve still got time to earn solid returns in a certificate of deposit, but don’t delay. The Federal Reserve cut interest rates three times in 2024, which means average CD yields are well off their recent record highs. While CD rates have stabilized in 2025 as the Fed holds pat, the...
The next step in your CD ladder strategy is to highlight CDs that align with your financial goals. This means researching which banks have the types of CD accounts that suit your needs. Review terms and conditions Additionally, as with any bank account, fully understanding the terms and condit...
A fixed rate means you always know what to expect from your CD. All of our CD's are insured up to FDIC allowable limits. 2.00%APYAnnual Percentage Yield 270-day fixed 1.80%APYAnnual Percentage Yield 1-year fixed 1.70%APYAnnual Percentage Yield ...
For kids of the 1990s, CD means compact disc, specifically that one Spin Doctors album you totally bought the day it came out. But in banking terms, CD means certificate of deposit. What is a certificate of deposit? The definition ofcertificate of deposit is an accountthat allows you to ...
That means CD rates will remain stable for the time being. The most recent FOMC meeting happened on March 18-19 with no changes to the fed funds rate—and the next scheduled meeting is May 6-7. In 2024, the Fed cut rates three times, leaving the federal funds rate in a range of ...
5For savings accounts, you are permitted to make no more than six transfers and withdrawals or any combination thereof per statement cycle or similar period (of at least 4 weeks) by means of a preauthorized, automatic or telephonic transfer. The limitation on transfers and withdrawals does not...
CIT Bank CD rates are competitive for some terms, but not for others. Read our full CIT Bank CD rates review to learn more.
In addition to getting a higher rate than you can on many savings accounts,CD ratesare fixed, which means there’s no risk of the rate going down during the term. (Keep in mind they can’t go up, either.) Generally, the longer the CD term, the higher the interest rate you can loc...