Fairbanks CD Rates

Your Credit and CD Rates

A Certificate of Deposit, or CD is similar to a savings account in that it earns interest, but different in that you can set a length of time (anywhere from 3 months to 5 years) that you will not touch your savings. The reason you may choose this option is that banks typically offer higher interest rates because they know you are not going to withdraw the money. Banks can then loan your money out, and pay you a higher Bank Rate to allow you to earn even more money.

Most investing options do not require a strong credit score to become an investor. However, there are a few who do, particularly high interest rate savings accounts. Even if they do not require a credit check, it is a good idea to always remain on top of your credit.

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Types of Investment Income

The most difficult, and important, decision to make when investing your hard-earned money is which type of investment account should you choose. Certificate of deposits mature at a fixed rate on a fixed length of time, so you know what you’re getting up front. Mutual Funds may give a higher return, but are risky because they rely on the success of the stock market and the choices of the firm doing the investing on your behalf. Be sure to do your research on Fairbanks Banking Rates before you decide.

Common types of investment income accounts:

• Certificate of Deposits (CDs)

• IRAs
• Savings Bonds
• Stock and Mutual Funds
• Money Market Accounts (MMAs)

No matter what type of investment you decide to make, or even if you’re just seeking more information to help you make the right decision, Fairbanks Banking Rates can help make that decision easier.

Submit your information today to learn more and see available rates for CD rates and investments.

Best CD Rates, IRAs and Investments in Fairbanks

Fairbanks Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.

Many local Fairbanks credit unions offer competitive CD rates, money market accounts and IRAs, as do the larger national banks. If you want to get the highest interest rates, be sure to thoroughly research banks with the best offers before you make your decision. Fairbanks Banking Rates has relationships with many banks to maximize the potential of finding the best rates.

3 Reasons to Invest in CDs

A Certificate of Deposit, or CD, is one of the most popular investment options available. They differ from traditional savings accounts in many ways and the unique features of a CD may help you save more over time. Here are three reasons you should invest in a CD.

1. CDs are a popular investment choice because of their simplicity — they are easy to obtain and require practically zero maintenance until they have matured.
2. CDs also offer a higher interest rate than a traditional savings account rate. By committing to a long-term investment period, CDs can deliver a higher rate of return. Often, the longer your funds remain invested in a CD, the greater the return.
3. Once the rate of return has been set, it cannot change and remains fixed for the entire term. As interest rates fluctuate, your investment will benefit from a steady rate.

Fairbanks Banking Rates provides you with CD rate comparisons from various financial institutions within Birmingham so you can make an informed decision when investing your money.