The best 3-year CD rates of October 2020 - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

If you're comfortable parting with your money for three years, a 3-year CD is a good tool for earning a guaranteed rate of return

Personal Finance Insider's mission is to help smart people make the best decisions with their money. We understand that "best" is often subjective, so in addition to highlighting the clear benefits of a financial product or account — a high APY, for example — we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various products so you don't have to.

You will, however, earn interest on the amount and have the option to collect those payments monthly or reinvest them into your CD. Most banks offer varying rates for different terms and deposit amounts — in many cases, the longer the term, the higher the rate. There are exceptions to the fixed-rate rule. Some institutions offer variable-rate CDs or CDs that allow your rate to change after a predetermined amount of time.Terms of one, three, and five years are some of the most common CD options. Your choice will likely depend on how soon you plan to need the money and which term pays the highest rate. For the most part, longer terms pay higher rates — but that isn't always the case.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

You’re better off putting your money in a mattress

good

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

2020 Chevrolet Corvette: A mid-engine bargain, yet tame to drive - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Survey shows 75% of NY October bar takers had negative experiences - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 'There are dozens of us!' -Tobias Funke
Source: BusinessInsider - 🏆 729. / 51 Read more »

14 Fashion Insiders on the Best Strapless Bras on the Market14 fashion insiders on the best strapless bras on the market.
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »

FAA gives SpaceX the 'streamlined' rocket rules it's wanted for years - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. nice
Source: BusinessInsider - 🏆 729. / 51 Read more »