Business News from the President's Desk

Types Of Cds

Banktime.com is one of a kind website providing the common man with guidelines for all his financial dealings. The website has analyzed the options for safe investment open for a consumer and has listed investment in savings account and the Certificate of Deposit as the chief options. The pros and cons of both have been discussed in the website. The consumers are reminded about the easy withdrawing options in a savings account, while it is also pointed out that the rate of interest is lower, when comparing with the Certificate of deposits. But while the CD Rates are more attractive, it involves a predestined lock in period of say 3 months to 5 years.

The various types of CDs like the add on CD, Brokered CD, Bump up CD, Liquid CD, Step up and Step down CDs have been defined and conditions where these could be opted for have been given. The consumers are informed about the insurance available for CDs up to a sum of $250,000, which thus secures the investment fully. The consumers are advised to go for a second CD, in case one wishes to invest sum above $250,000. Banktime.com is a resource for auto, home equity and insurance deals.

Tags: CD, Deposits