Please forward this error screen to 69. Savers are having a tough time. Interest rates are low, and that means yields on cash are low, too. The term “high yield” doesn’t have the same meaning that it high yield bank secured investment program before the financial crisis of 2008, but that shouldn’t stop you from trying to get the best possible deal when it comes to your time deposit accounts.
What Should You Look for in a CD? Here are some of the items you should consider as you look for a CD. How long will your money be locked up? While you can get a higher yield if you choose a longer term, it’s important to remember that if you try to get your money before the CD matures, you will pay a penalty.
On top of that, if yields rise while your money is locked up, you can’t take advantage of the increase. Some CDs require a minimum deposit for you to take advantage of the yields. 25,000 to get the best return. Look for a CD that compounds your interest. This means that you earn interest on your interest. Each time your interest is compounded, it is added to your CD total, and begins earning interest along with the principal. Some CDs compound your interest daily, which provides you the best earning potential.