CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet

[@Omni0404]

Ally is offering 5% APY on 18 month CDs right now

[@Eli-lx2fq]

USAA is offering 5% 15 month 90 days maturity.❤

[@brandonmtb3767]

Just put $6000 into a 5 month CD at 4.65%. Cash was just sitting around anyways losing value from inflation. Might as well try to get that value back since I didn't need to touch that money for awhile.

[@MYTMIC]

I did the same, figured why not

[@Darkstalker212]

I did it last year.. but on a smaller scale. Planning on opening up another one real soon

[@bringithard6721]

Could I open a 3 month every month for one year and just keep them rolling every month there after?

[@joshflowers1834]

@@bringithard6721I was told you could, and the less months you use the higher the percentage would be. But I’m still trying to figure everything out and could have misheard.

[@ohigh6]

Just got a 10 month CD @ 5% from B of A, feeling it out.

[@bryaninmiami]

Great strategy for the risk averse like me. I started building a CD ladder with Merrill and found some nice 5% offers.

[@popsncracks9108]

are you using bank of america ? if so i been looking for awhile and highest i seen was 4.89% 7 months term. thank you for help

[@bryaninmiami]

@@popsncracks9108 yep. Merrill and BoA are connected.

[@derekmorgan8534]

So, a CD account is a way to give someone else your money to invest it on the market and potentially make X amount of money. Then you get some interest as payment 🤔

[@AllByDesign4]

Yes. They take on the risk. You Don’t. 🎉. You earn 4-5% for your money just being there.

[@stevencruz3348]

@@AllByDesign4can u lose money?

[@theopoliswaters2405]

What are the tax implications of cashing in on your CD after it matures? Is the interest earned considered income?

[@luceroschulz6848]

Yes

[@Curious_gen]

​@@luceroschulz6848can you elaborate more on this and how is it taxed?

[@el-hp1lj]

TD bank is offering a 4.5-5% cd for 12-18 months. For 10-250k deposit. I was going to do it but I dont want to lock that money up so I went with there 2.5% savings product. Less gain but have the money when I need it

[@MYTMIC]

Sounds like you just should set up an HYSA

[@X-Factor-by2kz]

Do you earn the APY each month for the term of the CD? How does this work? My CU has a special offer going on now. 4.75% APY for 13 months. I'm considering putting in $500 as its the minimum.

[@Omni0404]

How I've always seen it work is that those advertised APY amounts usually require you to keep your interest in the CD until it comes to term. You can choose to have the interest go somewhere else but your interest rate will be lower. Just make sure they don't have it set to auto-renew if you plan to cash it out.

[@thecryptidarchives]

I just started a CD today with my online bank for 5.25% apy at 6 months, this is Feb 24.

[@billl.2441]

Which bank? Is that 6month terms?

[@thecryptidarchives]

USAA and yes for 6 months @@billl.2441

[@ephraimwarrior6766]

bank name ?

[@acemany1126]

Lloyd Banks from G-Unit bank.. investment

[@samp6237]

So how much $ did you earn?

[@sargeatlarge24v]

I’m opening a cd today at 5.06% which is very high. My local bank in town offers it too which is crazy to me

[@youngbucks6504]

I don’t know much about the bank all I want to know is, if I open a cd account and out my money there will it double or not !

[@gigz9773]

What I plan to do is put my grandparents money into a savings acct. with high APY% (Money the bank gives you for having your money there) & open a CD acct. with a high APY%. If one doesn’t work out you have the other to fall back into.

[@derekmorgan8534]

I have a few questions. I would like the same, just want ti know how or in what to invest on

[@jamesparham4939]

Threw a big chunk of cash into a 3 month on Friday. Equity markets are going to be too crazy for my comfort level. June 22, I will reconsider day trading, in the meantime I am locked up for three months.

[@tigerrx7]

SMH ETF is up over 20% YTD. Equities are still winning my friend

[@raylopez9153]

@@tigerrx7 SMH?

[@raylopez9153]

⁠@@tigerrx7 what are SMH? And ETF, I got $30,000 to invest.

[@ECUCHRIS904]

Semiconductor ETF. I think you may of missed the rally though. I would look into Consumer Staples and healthcare. The CDs are nice too if you want to play it extremely safe.

[@omegaman8188]

BarclaysUS is offering 5%

[@MrCharlest9]

Excellent

[@SherellWasko-s9e]

Bernardo Circles

[@JRis44]

If a cd yields 4% and inflation according to cpi is 3% then don't we account for that and simply call it 1% interest?

[@CurieBohr]

Or, not losing 3% like savings

[@dailywordnuggets8148]

Can you add to a CD without closing it ?..like deposit a monthly amount??

[@mclaine33]

No the way it works is that you have to have all the money at once and it’s deposit in an account and then you can’t touch it until the maturity date. If you don’t have a bunch of cash, consider a high yield savings account. Usually they are offering around 4-4.5%

[@RichardLawrenceIII]

Depends on who you bank with some banks let you add to it

[@edwinprado5620]

So you cant add money to a cd once its been opened? Thank for the info ​@mclaine33

[@Rod-bp8ow]

Congratulations. Tierage.

[@JasperJacoby-r7p]

Simonis River

[@MuratGonullu-l3x]

Joyce Island

[@AndresKlouda-r1g]

Makenna Plain

[@karlap2846]

Who transfer the money, the bank or myself? I open the cd on Friday but the money is still on my savings account.

[@RichardLawrenceIII]

You can transfer it or they can

[@AlexisTrogstad-f9u]

Hermann Rest

[@SylviaElliott-c6v]

Walker Joseph Clark Margaret Hernandez David

[@ZacheryLineman-s5j]

Chelsey Islands

[@AllisonMandich-u9y]

Liana Oval

[@SarahWhite-g5u]

Thomas John Lee Cynthia Davis Jennifer

[@lispendens]

Where can I find a beautiful nerdy finance woman like you in the real world❤

[@javiercuevassanchez6446]

Can you add more money to your cd account

[@GearheadK20C4]

It depends on the bank or credit union and the type of CD. I have a CD with my credit union that allows me to add money to it during maturity.

[@abuwadie3]

Gonna be taxed on interest earned. So divide that interest in half. Not worth it. If your going to tie up your money then might as well do an IRA. Higher rate of return.

[@mariod850]

@@abuwadie3I didn’t know it was taxed? Wow thanks for the info. I already tied my money up but only for 9 months want do it since it’s gonna be taxed

[@1974dodgecharger]

@@mariod850 more like 0-20%

[@chingon3461]

​@MR. Davis yes because it's considered income

[@julioorta1830]

She hurts my ears at every end of her sentence, annoyed