Best CD Rates

Arizona Alaska Alabama

What is a (Cer­tifi­cate of Deposit) or CD?

A cer­tifi­cate of deposit is a deposit of monies into a bank or credit union. Depend­ing on the rate of inter­est offered to you, the bank or credit union will give you money in exchange for you leav­ing the monies in for 12 months or longer.

Terms & Glos­sary to Define the words in the table

What is the APY

What is Bank or Credit Union

The insti­tu­tion that is offer­ing the annual per­cent­age rate of return on your CD.

Date:

The date in which the bank or credit union inter­est rate has was updated

What is CM

CM stands for com­pound­ing method. The inter­est can be:

• S which stands for Sim­ple inter­est.
  
• A which stands for Com­pounded annu­ally.
  
• H which stands for Com­pounded semi-annually.
  
• Q which stands for Com­pounded quar­terly.
  
• M which stands for Com­pounded monthly.
  
• D which stands for Com­pounded daily.

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What is APY?

APY stands for Annual per­cent­age rate. This rate is the total inter­est you will earn or receive based on com­pound­ing method of cal­cu­la­tion for a 365 day year.

Minimum

In order to avoid any fees or penalty, in order to get the adver­tised APY, you must keep a min­i­mum deposit of for instance $1,000 or $5,000 in order to qual­ify for that spe­cific rate of return on your CD. If you don’t have the min­i­mum, the bank or credit union will charge you a monthly fee for that month you did not meet the minimum.