If you choose to do nothing, the bank will likely renew the CD automatically for another five-year term at whatever rate it’s currently paying — which may be 4.5 percent, for instance.

A certificate of deposit is a type of savings account that typically offers a fixed interest rate and a higher rate of return than a traditional savings account. Your access to the funds will be ...

For example, the popular step-up CD option from U.S. Bank comes in a 28-month term and offers three incremental rate increases—one for every seven months that pass from when the CD is purchased.

Each specific bank—and specific CD product—has its own minimum initial deposit. At many banks, the minimum deposit for a CD ranges from $500 to $2,500, though with jumbo CDs the initial ...

Certificates of deposit (CDs) let you lock in a fixed interest rate for a set period of time that typically spans from a few months to five years or longer. However, the CD rates banks and credit ...

Discover how CDs work, including their interest rates, types, early withdrawal penalties, and terms lengths. We also explain how to open and manage a CD.

Home Personal Finance How To Save Money I Wouldn't Use These Types of CD Accounts Right Now The good news is you can earn over 4% on many CDs. However, there are three types of CDs I wouldn’t ...