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{/if}If you don’t know you can name your own interest rate … your bank is having their way with you. The good news is…Getting a Higher CD rate at your bank is easier than you think. Just do these two things:
First, find out what the best CD rates are both locally and Nationally
If you want to us to do all the work for you, and email you the best rates in your area and in the nation, simply give us:
Second, then go to your bank with our print out
Tell them you would like them to match the rates (they may not match them exactly … but if they will bump them (if they care about keeping you as a customer).
More topics
US Government issues a warning about CDs
The U.S. Securities and Exchange Commission has issued warnings about CD.
Potential Pitfall.
Do you understand the difference between a CD’s call period and maturity date? Don’t assume that a “federally insured one-year non-callable CD matures in one year. It doesn’t. These words mean the bank cannot redeem the CD during the first year, but they have nothing to do with the CD’s maturity date. A “one year Non-Callable” CD may still have a maturity date 15 to 20 years in the future. (Source: www.sec.gov)
Find Out When the CD Matures.
Sounds simple doesn’t it? But many individuals fail to confirm the maturity dates for their CDs and are later shocked that they’ve tied up their money for 5, 10 or even 20 years.
Thoroughly Check out the background of the Deposit Bank or Broker.
Many high yield CDs are actually done through a broker. Deposit brokers do not have to go through any licensing or certification procedures, and no state or federal agency licenses or approves them. You should always check to see if the deposit broker or bank has a history of complaints or fraud. You can do this either by contacting your state government’s consumer protection office. Or simply put in the bank or deposit broker’s name in our “Is Your Bank Safe” report service.
Find out what would happen if you needed to withdraw your money early.
Do not assume that it is something as simple as 6 months interest penalty. Brokered CDs can cause you to lose both principal and interest. In some cases the CD holder could lose more than 30% of their principal if they withdrew their money early. Early withdrawal penalty questions are excellent questions to ask.
How Does Your Bank’s Safety Rate?
Want to make sure your Bank has a high safety rating before you give them your money?
Just enter your bank name here and we’ll find out how the bank ranks in safety based on various rating services.
How Much Interest Do You Get After Taxes?
Knowing how much interest you actually get after taxes is very important to your planning and decision making process.
Below is a table that gives you that information.
Several different tax rates are given so that you may approximate both state and federal taxes affect on your income yield.
Important: If you are not satisfied with your after tax return, please click here for information on other safe alternatives.
| Taxable Intrest | 15% Tax | 18% Tax | 28% Tax | 31% Tax | 33% Tax | 35% Tax | 38% Tax | 41% Tax |
|---|---|---|---|---|---|---|---|---|
| 2.50% | 2.13 | 2.05 | 1.80 | 1.73 | 1.68 | 1.63 | 1.55 | 1.48 |
| 2.75% | 2.34 | 2.26 | 1.98 | 1.90 | 1.84 | 1.79 | 1.71 | 1.62 |
| 3.00% | 2.55 | 2.46 | 2.16 | 2.07 | 2.01 | 1.95 | 1.86 | 1.77 |
| 3.25% | 2.76 | 2.67 | 2.34 | 2.24 | 2.18 | 2.11 | 2.02 | 1.92 |
| 3.50% | 2.98 | 2.87 | 2.52 | 2.42 | 2.35 | 2.28 | 2.17 | 2.07 |
| 3.75% | 3.19 | 3.08 | 2.70 | 2.59 | 2.51 | 2.44 | 2.33 | 2.21 |
| 4.00% | 3.40 | 3.28 | 2.88 | 2.76 | 2.68 | 2.60 | 2.48 | 2.36 |
| 4.25% | 3.61 | 3.49 | 3.06 | 2.93 | 2.85 | 2.76 | 2.64 | 2.51 |
| 4.50% | 3.83 | 3.69 | 3.24 | 3.11 | 3.02 | 2.93 | 2.79 | 2.66 |
| 4.75% | 4.04 | 3.90 | 3.42 | 3.28 | 3.18 | 3.09 | 2.95 | 2.80 |
| 5.00% | 4.25 | 4.10 | 3.60 | 3.45 | 3.35 | 3.25 | 3.10 | 2.95 |
| 5.25% | 4.46 | 4.31 | 3.78 | 3.62 | 3.52 | 3.41 | 3.26 | 3.10 |
| 5.50% | 4.68 | 4.51 | 3.96 | 3.80 | 3.69 | 3.58 | 3.41 | 3.25 |
| 5.75% | 4.89 | 4.72 | 4.14 | 3.97 | 3.85 | 3.74 | 3.57 | 3.39 |
| 6.00% | 5.10 | 4.92 | 4.32 | 4.14 | 4.02 | 3.90 | 3.72 | 3.54 |
| 6.25% | 5.31 | 5.13 | 4.50 | 4.31 | 4.19 | 4.06 | 3.88 | 3.69 |
| 6.50% | 5.52 | 5.33 | 4.68 | 4.48 | 4.36 | 4.23 | 4.03 | 3.84 |
| 6.75% | 5.74 | 5.54 | 4.86 | 4.66 | 4.52 | 4.39 | 4.19 | 3.98 |
| 7.00% | 5.95 | 5.74 | 5.04 | 4.83 | 4.69 | 4.55 | 4.34 | 4.13 |
Not Satisfied With CD Rates?
See What Other Options You have For Your Safe Money
Low risk option comparisons
There is no perfect place for anyone’s money. There are always advantages and disadvantages to any type of account … but it always pays to be an informed consumer. If you are unsatisfied with your current CD rates, the chart below compares a couple of alternatives for you.
| Bank CD | US Treasuries | Annuity | |
|---|---|---|---|
| FDIC Insured | Yes | Backed by US Govt. | AM Best Safety rating |
| Tax deferred | Exempt to state taxes | Yes | |
| Tax deferred | Exempt to state taxes | Yes | |
| Potential inflation hedge | Yes | ||
| Potential disability benefit | Yes | ||
| Potential LTC benefit | Yes | ||
| Penalty free access to funds | Yes | ||
| Possible bonus to deposit | Yes | ||
| Avoidance of probate delays and costs | Yes | ||
| Advantages for Social Security taxation | Yes | ||
| Higher monthly income | Yes | ||
| Guaranteed lifetime income | Yes | ||
| Disappearing surrender charges | Early withdrawal could cause loss or gain depending on interest rate environment | Yes |
Learn about alternatives to CDs
If you are interested in learning more about possible alternatives to CDs including:
- How much additional interest you could receive
- How much additional monthly income would be possible for you
- Whether you would qualify for a bonus on your deposit or not
Simply submit your email address and we’ll quickly email information back to you to help in any decisions you may be making.
Find The Highest Interest Rate CDs Either Right Here in {if $location.city_state != ""}{$location.city_state}{else}{$owner->message_profile->location}{/if}
Find out what the best CD rates are both locally and Nationally