Scottsdale CD Rates

Best CD Rates, IRAs and Investments in Scottsdale

Scottsdale Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.

Many local Scottsdale credit unions offer competitive CD rates, money market accounts and IRAs, as do the larger national banks. If you want to get the highest interest rates, be sure to thoroughly research banks with the best offers before you make your decision. Scottsdale Banking Rates has relationships with many banks to maximize the potential of finding the best rates.

3 Types of CD Accounts

You are probably aware that a Certificate of Deposit, or CD, is useful in collecting high interest rates on your investment. You may not know, however, that there are many forms of CD accounts, all with varying conditions and interest rates.

Scottsdale Banking Rates can help you compare high CD interest rates from a multitude of banks and other financial institutions. If you find yourself unsure about what kind of CD account is best for you, consider the following variations:

Traditional CD

This is the type of CD account you are most familiar with. You deposit your money into a CD for a predetermined length of time and interest rate. You will most likely face a penalty for withdrawing your money early.

Liquid CD

This is like a combination of a CD and a savings account. You may withdraw money from your CD before the term is up without a penalty, though there is usually a minimum balance or limits on how much or how often you can make withdrawals. The interest rates are generally better than a savings or money market account but less than a traditional CD.

Bump-Up CD

The depositor has a chance to “bump up” the interest rate on their CD account to a higher rate that the bank is offering once during the term. This allows you to take advantage of rising interest rates, although the beginning CD rate will be lower than most.