1. Traditional CD
Before we talk about all the variants, let’s get some things cleared out about traditional CDs. As mentioned early, you’ll start off with a fixed amount and allow it to grow for a specific term.
Once you reach the end of that term you have two options. You can choose to cash out or you can rollover the CD for another term. So what happens if you need to withdraw money sooner? Watch out for that mistake, since it can be costly. Early withdrawals will slap you with a penalty that could be devastating for your savings.
Read the fine print and educate yourself on all the fees before depositing your money. Furthermore, you have to calculate the amount of interest you will earn by the end of the term.
1 thought on “12 Types Of CDs That Could Boost Your Savings”
Greetings from Los angeles! I’m bored to death at work so I decided
to browse your site on my iphone during lunch break. I really like the knowledge you present here and can’t wait to take a look when I get home.
I’m surprised at how quick your blog loaded on my cell phone ..
I’m not even using WIFI, just 3G .. Anyhow, superb blog!