What exactly is a CD and what type of CDs do you offer?
Investors searching for relatively low-risk investments that can easily be converted into cash often turn to Certificates of Deposit (CDs). A CD is a special type of deposit account with a bank or thrift institution that typically offers a higher rate of interest than a regular savings account. Unlike other investments, CDs feature federal deposit insurance, currently up to $100,000 per investor.
Generally, here’s how Certificates of Deposit work. When you purchase a CD, you invest a fixed sum of money for fixed period of time (exp. six months, one year, ten years, or more) and in exchange, the issuing bank pays you interest, typically at regular intervals. When you cash in or redeem your CD, you receive the money you originally invested plus any accrued interest. But if you redeem your CD before it matures, you may have to pay an "early withdrawal" penalty or forfeit a portion of the interest you earned.
At RateService we offer a variety of Certificates of Deposit including "Jumbo", Negotiable, Variable Rate, and "Zero Coupon" CD. The details of each CD is listed on the individual Certificate of Deposit Details pages.