RateAPY

Top 3 Ways to Get the Highest CD Rates

Posted by: RateAPY Bank Rates News
February 6th, 2010

In this economy, you have to be smart and know a few tricks to get the highest rates on your certificates of deposit (CDs). Here are the top three ways you can make the most of your CDs:

1. Shop online for CD interest rates. Online may be the most convenient way to compare what banks have to offer. Banks publish their highest CD rates daily. You can compare them in a side-by-side format and make an informed decision from the privacy and convenience of your home.
2. Layer your maturity dates. You can take advantage of changes in yields from year to year by dividing your certificates of deposit into five portions. Select five-year terms, one maturing each year. By doing this, your average yield should be higher over the long term.
3. Earn more from jumbo certificates of deposit. Research the required balance necessary to qualify for jumbo CD interest rates.