How can you find the best account for saving money for one year? It comes down to doing your research and understanding the different type of investment accounts that are out there. For short-term savings like this you should consider a 1-year CD or a money market account. Earning as much interest money as you can will help you to maximize your ability to save and grow your investment in 12 months. CD Account Opening an CD is a great way to help you save money. CD accounts provide you with a … [Read more...]
Top CD Rates Compared by Yield/Term Ratio
It is typical for CDs to offer a higher yield for a longer term. The farther out the term goes, the less the bank is willing to boost the yield. Using RateCatcher’s CD rate comparison tool, I calculated the ratio of yield to term for the most common CD terms. The longest term CDs provided the worst ratios with the best 7 year CD coming in at 0.49. The sweet spot is at the 1 year and 2 year CDs with ratios of 1.48 and 1.13 respectively. The 6 month CD is somewhat irrelevant because the … [Read more...]
