CDs may seem intimidating to depositors because of the rules and restrictions associated with these accounts. However, it's important for consumers to educate themselves about [them], as they offer the potential to earn higher interest rates.
El Segundo, CA (PRWEB) October 23, 2012
When it comes to saving money, most depositors are familiar with savings accounts, but often overlook additional savings tools like the certificate of deposit due to a lack of comprehension. Go Banking Rates educates readers about how to strategically reach savings goals, including using high-yield CD rates to boost gains.
"Certificates of deposit may seem intimidating to depositors because of the rules and restrictions associated with these accounts. However, it's important for consumers to educate themselves about CDs, as they offer the potential to earn higher interest rates."
-Casey Bond, Go Banking Rates Managing Editor
In its most recent feature, Go Banking Rates uncovers the facts about CD accounts that consumers often don't know, and demystifies this deposit account so that savers can more easily determine whether CDs are the right option for them.
Go Banking Rates found the top five unknown facts about CD accounts to be:
1. There are several types of CDs.
2. CDs can automatically renew.
3. It’s possible to invest in long-term CDs without losing liquidity.
4. You can invest in CDs within your retirement account.
5. IRA CDs are the same as traditional CDs.
In addition to uncovering these little-known facts, Go Banking Rates also explains how readers can use this new found knowledge to determine whether CD accounts would make a beneficial addition to their bank accounts, and how to incorporate CDs into their overall savings plans in order to realize higher returns on deposits.
About Go Banking Rates
Go Banking Rates (GoBankingRates.com) a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. Go Banking Rates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information. Go Banking Rates also regularly publishes expert advice from personal finance professionals.
GoBankingRates.com is a division of ConsumerTrack, Inc., an 8-year leader in online lead generation, performance-based marketing, and customer acquisition in the financial, insurance and credit sectors. The company’s portfolio of 1500 finance websites includes GoBankingRates.com, GoInsuranceRates.com, and GoFreeCredit.com. These sites receive more than 2 million visits each month.
For questions or comments, please contact:
Jaime Catmull, Director of Public Relations