The agency is best known for its deposit insurance. As of March 31, the FDIC's Deposit Insurance Fund contained $116.1 billion. Under federal law, the FDIC must keep $1.35 in the fund for every $100 of insured deposits. FDIC insurance protects deposits at any failed bank, as long as it...
Some of the advantages of savings accounts are: Safety: Money kept in a savings account at an FDIC-insured bank or an NCUA-insured credit union is insured (within limits). Growth: Savings accounts are generally interest-bearing, meaning you will earn interest on the money you save in the ...
A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate on money held for an agreed-upon period of time. Thebest CD ratesare usually higher than savings accounts, but you lose withdrawal flexibility. If you withdraw your CD funds early, you'll be charg...
The amount up to which the FDIC insures CDs.1 Advantages of Jumbo CDs Large institutional investors are the typical customers for jumbo CDs. These large institutions include banks, some large corporations, and pension funds. Primarily, this is due to the high minimum balance requirements. These...
How Does the FDIC Work? The FDIC maintains the Deposit Insurance Fund (DIF), which is backed by the full faith and credit of the U.S. government.3It’s also worth noting that since the FDIC was founded in 1933, no depositor has lost any FDIC-insured funds.4 ...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
A home equity loan is a loan taken out against the equity in your home. Equity is the difference between the current market value of your home and the amount you still owe on your mortgage.
The five-year Ally Bank High Yield CD, for example, offers a 3.50% APY for no minimum deposit required. Ally Bank® CDs Learn More Ally Bank® is a Member FDIC. Annual Percentage Yield (APY) From 3.40% to 4.05% APY Terms From 3 months to 5 years Minimum balance None Monthly fee...
Here’s all that you need to know about the meaning of APY and how to know how much your account is paying you. What does APY mean? APY is a key feature to consider when shopping for aplace to stash your savings. Some checking accounts also pay interest, too, although not much. ...
The point of sale (POS) is where your customers pay for goods or services, but today’s POS systems are far more than just a modern cash register. Nowadays a POS system includes hardware, software and support that allows it to function as a central data hub. “It has the...